$2.33 Billion in Sales Expected for L3 Technologies Inc (LLL) This Quarter
Equities analysts expect L3 Technologies Inc (NYSE:LLL) to report sales of $2.33 billion for the current quarter, Zacks reports. Five analysts have made estimates for L3 Technologies’ earnings, with the highest sales estimate coming in at $2.42 billion and the lowest estimate coming in at $2.24 billion. L3 Technologies posted sales of $2.67 billion in the same quarter last year, which suggests a negative year over year growth rate of 12.7%. The company is expected to issue its next earnings report on Thursday, April 26th.
On average, analysts expect that L3 Technologies will report full-year sales of $2.33 billion for the current year, with estimates ranging from $9.89 billion to $10.07 billion. For the next financial year, analysts anticipate that the business will post sales of $10.48 billion per share, with estimates ranging from $10.35 billion to $10.60 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for L3 Technologies.
L3 Technologies (NYSE:LLL) last posted its earnings results on Thursday, January 25th. The aerospace company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.05. L3 Technologies had a return on equity of 13.63% and a net margin of 6.37%. The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the prior year, the company earned $2.38 earnings per share. L3 Technologies’s revenue was down 2.6% on a year-over-year basis.
In related news, insider Michael T. Strianese sold 39,515 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $211.92, for a total transaction of $8,374,018.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 338,665 shares of company stock valued at $70,025,114 in the last quarter. 2.90% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in LLL. Ameriprise Financial Inc. grew its position in shares of L3 Technologies by 221.3% during the third quarter. Ameriprise Financial Inc. now owns 1,137,399 shares of the aerospace company’s stock worth $214,322,000 after purchasing an additional 783,446 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of L3 Technologies by 2,744.3% during the third quarter. Victory Capital Management Inc. now owns 338,645 shares of the aerospace company’s stock worth $63,811,000 after purchasing an additional 326,739 shares in the last quarter. Millennium Management LLC grew its position in shares of L3 Technologies by 52.0% during the fourth quarter. Millennium Management LLC now owns 703,966 shares of the aerospace company’s stock worth $139,280,000 after purchasing an additional 240,875 shares in the last quarter. APG Asset Management N.V. grew its position in shares of L3 Technologies by 178.0% during the fourth quarter. APG Asset Management N.V. now owns 327,781 shares of the aerospace company’s stock worth $54,007,000 after purchasing an additional 209,886 shares in the last quarter. Finally, Gotham Asset Management LLC grew its position in shares of L3 Technologies by 3,338.0% during the fourth quarter. Gotham Asset Management LLC now owns 119,539 shares of the aerospace company’s stock worth $23,651,000 after purchasing an additional 116,062 shares in the last quarter. Hedge funds and other institutional investors own 77.80% of the company’s stock.
L3 Technologies (NYSE:LLL) traded up $1.39 during mid-day trading on Wednesday, reaching $213.41. The company’s stock had a trading volume of 324,684 shares, compared to its average volume of 769,969. L3 Technologies has a 52 week low of $159.43 and a 52 week high of $218.71. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.72 and a current ratio of 1.89. The company has a market capitalization of $16,680.00, a P/E ratio of 25.17, a price-to-earnings-growth ratio of 2.69 and a beta of 1.26.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be paid a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $3.20 annualized dividend and a dividend yield of 1.50%. This is an increase from L3 Technologies’s previous quarterly dividend of $0.75. L3 Technologies’s dividend payout ratio (DPR) is 35.38%.
L3 Technologies 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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