L-3 Communications Holdings Inc. (LLL) Issues FY16 Earnings Guidance
L-3 Communications Holdings Inc. (NYSE:LLL) updated its FY16 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $7.85-7.95 for the period, compared to the Thomson Reuters consensus estimate of $7.93. The company issued revenue guidance of $10.25-10.35 billion, compared to the consensus revenue estimate of $10.31 billion.
A number of equities analysts have issued reports on the stock. Barclays PLC raised shares of L-3 Communications Holdings from an equal weight rating to an overweight rating and lifted their price objective for the stock from $155.00 to $165.00 in a report on Thursday, November 10th. Robert W. Baird initiated coverage on L-3 Communications Holdings in a research note on Friday, October 28th. They set an outperform rating and a $184.00 target price on the stock. Vertical Research initiated coverage on L-3 Communications Holdings in a research note on Friday, October 28th. They set a hold rating on the stock. Vertical Group initiated coverage on L-3 Communications Holdings in a research note on Friday, October 28th. They set a hold rating on the stock. Finally, Zacks Investment Research upgraded L-3 Communications Holdings from a hold rating to a buy rating and set a $157.00 target price on the stock in a research note on Monday, October 31st. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $161.54.
Shares of L-3 Communications Holdings Inc. (NYSE:LLL) traded down 0.81% on Wednesday, hitting $157.34. The stock had a trading volume of 241,946 shares. The stock has a market capitalization of $12.16 billion, a P/E ratio of 34.95 and a beta of 1.05. The firm has a 50-day moving average price of $146.87 and a 200-day moving average price of $146.72. L-3 Communications Holdings Inc. has a 52 week low of $105.88 and a 52 week high of $159.66.
L-3 Communications Holdings (NYSE:LLL) last released its quarterly earnings data on Thursday, October 27th. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.82 by $0.06. L-3 Communications Holdings had a return on equity of 13.90% and a net margin of 3.43%. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same period last year, the firm posted $2.09 earnings per share. L-3 Communications Holdings’s revenue was down 2.3% compared to the same quarter last year. Equities analysts expect that L-3 Communications Holdings Inc. will post $7.95 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, November 17th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a $2.80 annualized dividend and a dividend yield of 1.77%. L-3 Communications Holdings’s dividend payout ratio (DPR) is presently 61.95%.
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Hedge funds and other institutional investors have recently made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of L-3 Communications Holdings during the second quarter valued at about $210,000. Ameritas Investment Partners Inc. purchased a new position in shares of L-3 Communications Holdings during the second quarter valued at about $215,000. Veritable L.P. purchased a new position in shares of L-3 Communications Holdings during the second quarter valued at about $221,000. Pacer Advisors Inc. boosted its position in shares of L-3 Communications Holdings by 7.7% in the second quarter. Pacer Advisors Inc. now owns 1,540 shares of the company’s stock valued at $226,000 after buying an additional 110 shares during the last quarter. Finally, Bank of Nova Scotia purchased a new position in shares of L-3 Communications Holdings during the second quarter valued at about $229,000. 79.19% of the stock is currently owned by institutional investors and hedge funds.
About L-3 Communications Holdings
L-3 Communications Holdings, Inc (L-3 Holdings) operates through its operating subsidiary L-3 Communications (L-3). The Company operates through three segments: Electronic Systems, which provides a range of products and services, including components, products, subsystems, systems and related services to military and commercial customers; Aerospace Systems, which provides products and services for the Intelligence, Surveillance and Reconnaissance (ISR) market, specializing in signals intelligence (SIGINT) and multi-intelligence platforms, and Communication Systems, which provides network and communication systems, secure communications products, radio frequency components, satellite communication terminals, and space, microwave and telemetry products.
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