Leonardo DRS Inc. (NASDAQ: DRS) stock jumped 0.77% on Tuesday to $13.01 against a previous-day closing price of $12.91. With 1.06 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.86 million shares. During the session, the Aerospace & Defense company that operates in wider Industrials sector, reached to the highest price of $13.22 whereas the lowest price it dropped to was $12.25. The 52-week range on DRS shows that it touched its highest point at $16.70 and its lowest point at $7.51 during that stretch. It currently has a 1-year price target of $17.00. Beta for the stock currently stands at 0.89.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of DRS was up-trending over the past week, with a rise of 0.08%, but this was up by 5.77% over a month. Three-month performance surged to 28.68% while six-month performance rose 33.71%. The stock gained 35.10% in the past year, while it has gained 1.80% so far this year. A look at the trailing 12-month EPS for DRS yields 0.11 with Next year EPS estimates of 0.72. For the next quarter, that number is 0.05. This implies an EPS growth rate of 295.60% for this year and 46.90% for next year.
Float and Shares Shorts:
At present, 260.19 million DRS shares are outstanding with a float of 253.47 million shares on hand for trading.
Other institutions hold 6.98% of DRS, in contrast to 5.06% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in DRS with 1.35% of the stake, Excellence Investments Ltd. holds 3,518,481 shares worth 3,518,481. A second-largest stockholder of DRS, Templeton Investment Counsel LLC, holds 3,199,775 shares, controlling over 1.23% of the firm’s shares. Wellington Management Co. LLP is the third largest shareholder in DRS, holding 2,742,627 shares or 1.05% stake. With a 0.61% stake in DRS, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 1,588,300 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 0.51% of DRS stock, is the second-largest Mutual Fund holder. It holds 1,314,898 shares valued at 16.8 million. Invesco Aerospace & Defense ETF holds 0.43% of the stake in DRS, owning 1,125,730 shares worth 14.39 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for DRS since 3 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With DRS analysts setting a high price target of $19.00 and a low target of $14.00, the average target price over the next 12 months is $16.00. Based on these targets, DRS could surge 46.04% to reach the target high and rise by 7.61% to reach the target low. Reaching the average price target will result in a growth of 22.98% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. DRS will report FY 2022 earnings on 02/07/2024. Analysts have provided yearly estimates in a range of $0.70 being high and $0.59 being low. For DRS, this leads to a yearly average estimate of $0.65. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Leonardo DRS Inc. surprised analysts by -$0.01 when it reported $0.08 EPS against a consensus estimate of $0.09. The surprise factor in the prior quarter was -$0.15. Based on analyst estimates, the high estimate for the next quarter is $0.36 and the low estimate is $0.28. The average estimate for the next quarter is thus $0.32.