Wall Street brokerages predict that L-3 Communications Holdings, Inc. (NYSE:LLL) will post $2.70 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for L-3 Communications Holdings’ earnings. The lowest sales estimate is $2.65 billion and the highest is $2.73 billion. L-3 Communications Holdings reported sales of $2.66 billion during the same quarter last year, which indicates a positive year over year growth rate of 1.5%. The business is expected to issue its next quarterly earnings report on Thursday, July 27th.
On average, analysts expect that L-3 Communications Holdings will report full year sales of $2.70 billion for the current year, with estimates ranging from $10.92 billion to $11.00 billion. For the next fiscal year, analysts forecast that the firm will post sales of $11.33 billion per share, with estimates ranging from $11.18 billion to $11.51 billion. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for L-3 Communications Holdings.
L-3 Communications Holdings (NYSE:LLL) last released its quarterly earnings results on Thursday, April 27th. The aerospace company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.26. The company had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.45 billion. L-3 Communications Holdings had a return on equity of 13.90% and a net margin of 5.98%. L-3 Communications Holdings’s revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.08 earnings per share.
A number of equities research analysts have recently commented on the company. Cowen and Company reiterated an “outperform” rating and set a $185.00 price objective on shares of L-3 Communications Holdings in a research report on Wednesday, June 14th. BidaskClub upgraded L-3 Communications Holdings from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Royal Bank Of Canada reiterated a “hold” rating and set a $178.00 price objective on shares of L-3 Communications Holdings in a research report on Friday, June 2nd. Barclays PLC downgraded L-3 Communications Holdings from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $165.00 to $175.00 in a research report on Monday, May 1st. Finally, Deutsche Bank AG increased their price objective on L-3 Communications Holdings from $175.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $179.18.
In other news, Chairman Michael T. Strianese sold 22,547 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $169.02, for a total value of $3,810,893.94. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 67,641 shares of company stock worth $11,432,231 over the last ninety days. 2.90% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of LLL. Gulf International Bank UK Ltd boosted its stake in L-3 Communications Holdings by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 24,598 shares of the aerospace company’s stock worth $4,065,000 after buying an additional 300 shares during the period. Creative Planning purchased a new stake in L-3 Communications Holdings during the first quarter worth about $559,000. Raymond James Trust N.A. boosted its stake in L-3 Communications Holdings by 20.6% in the first quarter. Raymond James Trust N.A. now owns 3,278 shares of the aerospace company’s stock worth $542,000 after buying an additional 559 shares during the period. Contravisory Investment Management Inc. purchased a new stake in L-3 Communications Holdings during the first quarter worth about $264,000. Finally, Catawba Capital Management VA boosted its stake in L-3 Communications Holdings by 1.7% in the first quarter. Catawba Capital Management VA now owns 17,585 shares of the aerospace company’s stock worth $2,907,000 after buying an additional 290 shares during the period. 81.86% of the stock is currently owned by hedge funds and other institutional investors.
L-3 Communications Holdings (NYSE:LLL) traded down 1.22% during trading on Friday, reaching $169.88. The company’s stock had a trading volume of 391,103 shares. The firm has a 50-day moving average price of $166.31 and a 200-day moving average price of $163.43. The firm has a market capitalization of $13.23 billion, a P/E ratio of 20.72 and a beta of 1.14. L-3 Communications Holdings has a 52 week low of $132.38 and a 52 week high of $179.95.
L-3 Communications Holdings declared that its board has authorized a share buyback program 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 shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
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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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