Advertisement
New Zealand markets open in 9 hours 50 minutes

  • NZX 50

    11,946.43
    +143.15 (+1.21%)
     

  • NZD/USD

    0.5961
    +0.0024 (+0.41%)
     

  • NZD/EUR

    0.5558
    +0.0012 (+0.22%)
     

  • ALL ORDS

    7,937.50
    -0.40 (-0.01%)
     

  • ASX 200

    7,683.00
    -0.50 (-0.01%)
     

  • OIL

    82.98
    +0.17 (+0.21%)
     

  • GOLD

    2,340.70
    +2.30 (+0.10%)
     

  • NASDAQ

    17,526.80
    +55.33 (+0.32%)
     

  • FTSE

    8,095.38
    +55.00 (+0.68%)
     

  • Dow Jones

    38,460.92
    -42.77 (-0.11%)
     

  • DAX

    17,987.46
    -101.24 (-0.56%)
     

  • Hang Seng

    17,284.54
    +83.27 (+0.48%)
     

  • NIKKEI 225

    37,628.48
    -831.60 (-2.16%)
     

  • NZD/JPY

    92.6920
    +0.5770 (+0.63%)
     

Leonardo DRS, Inc. (DRS) Soars 5.4%: Is Further Upside Left in the Stock?

Zacks Equity Research
·2-min read

Leonardo DRS, Inc. (DRS) shares soared 5.4% in the last trading session to close at $13.15. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 25.9% gain over the past four weeks.

The latest uptick in the share performance of Leonardo DRS can be attributed to the the appointment of Dr. Louis Reginald “Reggie” Brothers to DRS’  board of directors.

This company is expected to post quarterly earnings of $0.05 per share in its upcoming report, which represents a year-over-year change of -58.3%. Revenues are expected to be $31.7 million, down 0.9% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

ADVERTISEMENT

For Leonardo DRS, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on DRS going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Leonardo DRS, Inc. is a member of the Zacks Aerospace - Defense Equipment industry. One other stock in the same industry, Spirit Aerosystems (SPR), finished the last trading session 0.2% higher at $28.83. SPR has returned 11.6% over the past month.

Spirit Aerosystems' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.46. Compared to the company's year-ago EPS, this represents a change of +45.2%. Spirit Aerosystems currently boasts a Zacks Rank of #3 (Hold).

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Leonardo DRS, Inc. (DRS) : Free Stock Analysis Report

Spirit Aerosystems Holdings, Inc. (SPR) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research