L-3 Communications Holdings Rating Increased to Outperform at Credit Suisse (LLL)
L-3 Communications Holdings (NYSE:LLL) was upgraded by equities research analysts at Credit Suisse from a “neutral” rating to an “outperform” rating in a research note issued to investors on Friday, TheFlyOnTheWall.com reports. The firm currently has a $145.00 price objective on the stock, up from their previous price objective of $122.00. Credit Suisse’s target price would suggest a potential upside of 24.62% from the stock’s previous close. The analysts noted that the move was a valuation call.
In other L-3 Communications Holdings news, Director Alan H. Washkowitz sold 2,000 shares of L-3 Communications Holdings stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $119.13, for a total transaction of $238,260.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.
L-3 Communications Holdings (NYSE:LLL) opened at 116.35 on Friday. L-3 Communications Holdings has a 1-year low of $82.60 and a 1-year high of $121.43. The stock’s 50-day moving average is $116.2 and its 200-day moving average is $109.7. The company has a market cap of $10.033 billion and a price-to-earnings ratio of 13.90.
L-3 Communications Holdings (NYSE:LLL) last posted its quarterly earnings results on Thursday, May 1st. The company reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.04. The company had revenue of $3.00 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the previous year, the company posted $2.00 earnings per share. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. Analysts expect that L-3 Communications Holdings will post $8.40 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, June 16th. Shareholders of record on Monday, May 19th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, May 15th.
Several other analysts have also recently commented on the stock. Analysts at Bank of America upgraded shares of L-3 Communications Holdings from an “underperform” rating to a “buy” rating in a research note on Thursday. They now have a $146.00 price target on the stock, up previously from $117.00. Separately, analysts at JPMorgan Chase & Co. upgraded shares of L-3 Communications Holdings from a “neutral” rating to an “overweight” rating in a research note on Monday, May 5th. They now have a $135.00 price target on the stock, up previously from $124.00. Finally, analysts at RBC Capital cut their price target on shares of L-3 Communications Holdings from $127.00 to $123.00 in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. L-3 Communications Holdings currently has a consensus rating of “Buy” and a consensus target price of $123.67.
L-3 Communications Holdings, Inc is a prime contractor in aerospace systems and national security solutions.
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