L-3 Communications Holdings, Inc. (LLL) Expected to Post Quarterly Sales of $2.69 Billion
Equities analysts expect L-3 Communications Holdings, Inc. (NYSE:LLL) to report sales of $2.69 billion for the current quarter, Zacks reports. Four analysts have made estimates for L-3 Communications Holdings’ earnings, with the highest sales estimate coming in at $2.78 billion and the lowest estimate coming in at $2.60 billion. L-3 Communications Holdings posted sales of $2.51 billion in the same quarter last year, which suggests a positive year over year growth rate of 7.2%. The company is expected to issue its next earnings report on Thursday, October 26th.
On average, analysts expect that L-3 Communications Holdings will report full-year sales of $2.69 billion for the current year, with estimates ranging from $10.93 billion to $11.10 billion. For the next financial year, analysts anticipate that the business will post sales of $11.30 billion per share, with estimates ranging from $11.16 billion to $11.53 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for L-3 Communications Holdings.
L-3 Communications Holdings (NYSE:LLL) last released its quarterly earnings data on Thursday, July 27th. The aerospace company reported $2.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.03 by $0.18. L-3 Communications Holdings had a net margin of 6.44% and a return on equity of 14.15%. The firm had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the prior year, the business earned $1.88 EPS. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year.
A number of analysts have recently commented on LLL shares. Barclays PLC lowered shares of L-3 Communications Holdings from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $165.00 to $175.00 in a research report on Monday, May 1st. Royal Bank Of Canada reissued a “hold” rating and issued a $178.00 price objective on shares of L-3 Communications Holdings in a research report on Friday, June 2nd. Cowen and Company reissued an “outperform” rating and issued a $185.00 price objective on shares of L-3 Communications Holdings in a research report on Wednesday, June 14th. Deutsche Bank AG boosted their price objective on shares of L-3 Communications Holdings from $175.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $170.00 price objective (up previously from $160.00) on shares of L-3 Communications Holdings in a research report on Saturday, April 29th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $180.09.
L-3 Communications Holdings (NYSE LLL) opened at 176.00 on Friday. The firm has a market cap of $13.77 billion, a price-to-earnings ratio of 19.84 and a beta of 1.15. L-3 Communications Holdings has a 52 week low of $132.38 and a 52 week high of $180.73. The stock’s 50 day moving average is $170.97 and its 200 day moving average is $166.60.
L-3 Communications Holdings declared that its board has approved a stock buyback plan on Tuesday, May 9th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to purchase up to 11.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 17th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $3.00 dividend on an annualized basis and a yield of 1.70%. L-3 Communications Holdings’s payout ratio is 33.82%.
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In other L-3 Communications Holdings news, insider Michael T. Strianese sold 22,547 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $168.04, for a total value of $3,788,797.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders sold 67,641 shares of company stock worth $11,511,371. Corporate insiders own 2.90% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in LLL. Parametrica Management Ltd bought a new position in L-3 Communications Holdings during the first quarter valued at approximately $268,000. First Command Financial Services Inc. increased its position in L-3 Communications Holdings by 13.6% in the first quarter. First Command Financial Services Inc. now owns 2,712 shares of the aerospace company’s stock valued at $448,000 after buying an additional 325 shares in the last quarter. Alpha Windward LLC increased its position in L-3 Communications Holdings by 1,165.3% in the first quarter. Alpha Windward LLC now owns 3,062 shares of the aerospace company’s stock valued at $506,000 after buying an additional 2,820 shares in the last quarter. Honkamp Krueger Financial Services Inc. bought a new position in L-3 Communications Holdings during the first quarter valued at approximately $216,000. Finally, TNB Financial bought a new position in L-3 Communications Holdings during the first quarter valued at approximately $248,000. Hedge funds and other institutional investors own 81.89% of the company’s stock.
L-3 Communications Holdings Company Profile
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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