Equities Analysts Offer Predictions for L-3 Communications Holdings, Inc.’s FY2017 Earnings (LLL)
L-3 Communications Holdings, Inc. (NYSE:LLL) – Stock analysts at SunTrust Banks lowered their FY2017 earnings per share (EPS) estimates for L-3 Communications in a report issued on Wednesday. SunTrust Banks analyst M. Ciarmoli now forecasts that the aerospace company will post earnings of $8.38 per share for the year, down from their prior estimate of $8.90. SunTrust Banks currently has a “Buy” rating on the stock. SunTrust Banks also issued estimates for L-3 Communications’ Q4 2017 earnings at $2.30 EPS, Q1 2018 earnings at $2.03 EPS, Q3 2018 earnings at $2.15 EPS, Q4 2018 earnings at $2.51 EPS, FY2018 earnings at $8.91 EPS and FY2019 earnings at $9.86 EPS.
A number of other research analysts have also weighed in on LLL. Citigroup boosted their target price on shares of L-3 Communications to $230.00 and gave the stock a “buy” rating in a research report on Thursday. Royal Bank Of Canada upgraded shares of L-3 Communications from a “sector perform” rating to an “outperform” rating and dropped their price objective for the stock from $202.00 to $159.00 in a report on Wednesday. Stifel Nicolaus restated a “hold” rating and set a $215.00 price objective on shares of L-3 Communications in a report on Wednesday. ValuEngine downgraded shares of L-3 Communications from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, Cowen restated a “buy” rating and set a $210.00 price objective on shares of L-3 Communications in a report on Wednesday. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $198.36.
L-3 Communications (NYSE:LLL) last released its quarterly earnings data on Thursday, October 26th. The aerospace company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.03. L-3 Communications had a net margin of 5.22% and a return on equity of 14.00%. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.68 billion. During the same quarter in the previous year, the business earned $1.88 EPS. L-3 Communications’s quarterly revenue was up 5.6% compared to the same quarter last year.
Large investors have recently modified their holdings of the business. Acrospire Investment Management LLC bought a new position in L-3 Communications in the second quarter valued at $100,000. Bronfman E.L. Rothschild L.P. grew its position in L-3 Communications by 103.1% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 654 shares of the aerospace company’s stock valued at $109,000 after purchasing an additional 332 shares in the last quarter. Invictus RG bought a new position in L-3 Communications in the third quarter valued at $135,000. Parallel Advisors LLC grew its position in L-3 Communications by 56.5% in the third quarter. Parallel Advisors LLC now owns 961 shares of the aerospace company’s stock valued at $178,000 after purchasing an additional 347 shares in the last quarter. Finally, NEXT Financial Group Inc grew its position in L-3 Communications by 53.8% in the third quarter. NEXT Financial Group Inc now owns 1,012 shares of the aerospace company’s stock valued at $190,000 after purchasing an additional 354 shares in the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Michael T. Strianese sold 22,547 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $185.87, for a total value of $4,190,810.89. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold 67,639 shares of company stock worth $12,818,253 over the last quarter. 2.90% of the stock is owned by company insiders.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 17th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.55%. L-3 Communications’s payout ratio is 41.27%.
About L-3 Communications
L3 Technologies, Inc, formerly L-3 Communications Holdings, Inc, is a prime contractor in Intelligence, Surveillance and Reconnaissance (ISR) systems, aircraft sustainment, simulation and training, night vision and image intensification equipment and security and detection systems. The Company provides a broad range of communication and electronic systems and products used on military and commercial platforms.
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