Elbit Systems Ltd. (ESLT) Releases Quarterly Earnings Results
Elbit Systems Ltd. (NASDAQ:ESLT) announced its quarterly earnings data on Thursday. The company reported $1.46 earnings per share (EPS) for the quarter. The business had revenue of $780.80 million for the quarter, compared to the consensus estimate of $764.80 million. Elbit Systems had a net margin of 6.90% and a return on equity of 17.62%.
Shares of Elbit Systems (NASDAQ:ESLT) opened at 103.69 on Friday. Elbit Systems has a 52 week low of $79.71 and a 52 week high of $105.00. The stock has a 50 day moving average of $97.49 and a 200 day moving average of $96.27. The firm has a market cap of $4.43 billion, a P/E ratio of 20.22 and a beta of 0.61.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 5th. Stockholders of record on Sunday, November 27th will be paid a $0.40 dividend. This is an increase from Elbit Systems’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Tuesday, November 22nd. This represents a $1.60 annualized dividend and a dividend yield of 1.54%. Elbit Systems’s dividend payout ratio (DPR) is presently 31.25%.
Separately, Standpoint Research began coverage on shares of Elbit Systems in a research note on Monday, August 1st. They issued an “accumulate” rating and a $115.00 price objective on the stock.
Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in Elbit Systems by 115.9% in the first quarter. JPMorgan Chase & Co. now owns 22,439 shares of the company’s stock valued at $2,106,000 after buying an additional 12,047 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Elbit Systems by 32.6% in the first quarter. Goldman Sachs Group Inc. now owns 96,848 shares of the company’s stock valued at $9,084,000 after buying an additional 23,819 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Elbit Systems by 17.2% in the first quarter. Renaissance Technologies LLC now owns 168,735 shares of the company’s stock valued at $15,826,000 after buying an additional 24,800 shares during the last quarter. Eqis Capital Management Inc. boosted its stake in Elbit Systems by 16.7% in the second quarter. Eqis Capital Management Inc. now owns 9,097 shares of the company’s stock valued at $827,000 after buying an additional 1,304 shares during the last quarter. Finally, Trust Department MB Financial Bank N A purchased a new stake in Elbit Systems during the second quarter valued at approximately $258,000. Hedge funds and other institutional investors own 5.92% of the company’s stock.
About Elbit Systems
Elbit Systems Ltd. is an international technology company engaged in a range of programs across the world. The Company develops and supplies a portfolio of airborne, land and naval systems and products for defense, homeland security and commercial aviation applications. Its systems and products are installed on new platforms, and it also performs platform modernization programs.
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