L-3 Communications Holdings Stock Rating Lowered by Bank of America Corp. (LLL)
L-3 Communications Holdings (NYSE:LLL) was downgraded by equities researchers at Bank of America Corp. from a “neutral” rating to an “underperform” rating in a research report issued on Tuesday, American Banking News.com reports. They currently have a $106.00 target price on the stock. Bank of America Corp.’s price objective points to a potential upside of 1.20% from the stock’s previous close.
The analysts wrote, “In our view, LLL remains vulnerable to cuts as more than half of its business comes from short-cycle contracts and 22% of 2012 sales were derived from the US Army.”
LLL has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of L-3 Communications Holdings in a research note to investors on Friday, December 6th. They now have a $106.00 price target on the stock. Separately, analysts at Drexel Hamilton raised their price target on shares of L-3 Communications Holdings from $98.00 to $115.00 in a research note to investors on Wednesday, November 6th. They now have a “buy” rating on the stock. Finally, analysts at Barclays raised their price target on shares of L-3 Communications Holdings from $97.00 to $110.00 in a research note to investors on Monday, November 4th. They now have an “equal weight” rating on the stock. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. L-3 Communications Holdings has a consensus rating of “Hold” and a consensus price target of $100.46.
L-3 Communications Holdings (NYSE:LLL) traded down 0.80% on Tuesday, hitting $104.74. The stock had a trading volume of 717,239 shares. L-3 Communications Holdings has a 1-year low of $74.28 and a 1-year high of $108.69. The stock’s 50-day moving average is $103.6 and its 200-day moving average is $95.95. The company has a market cap of $9.283 billion and a price-to-earnings ratio of 12.25.
L-3 Communications Holdings (NYSE:LLL) last announced its earnings results on Tuesday, October 29th. The company reported $1.97 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.95 by $0.02. The company had revenue of $3.00 billion for the quarter, compared to the consensus estimate of $3.07 billion. During the same quarter last year, the company posted $1.87 earnings per share. L-3 Communications Holdings’s revenue was down 8.7% compared to the same quarter last year. Analysts expect that L-3 Communications Holdings will post $8.35 EPS for the current fiscal year.
L-3 Communications Holdings, Inc (NYSE:LLL) is a prime contractor in Command, Control, Communications, Intelligence, Surveillance and Reconnaissance (C3ISR) systems, aircraft modernization and maintenance, and government services.
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