L-3 Communications Holdings, Inc. (LLL) Updates FY17 Earnings Guidance
L-3 Communications Holdings, Inc. (NYSE:LLL) issued an update on its FY17 earnings guidance on Thursday morning. The company provided earnings per share guidance of $8.65-8.85 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $8.77. The company issued revenue guidance of $10.80-11.00 billion, compared to the consensus revenue estimate of $10.93 billion.
L-3 Communications Holdings, Inc. (NYSE LLL) traded up 0.02% on Thursday, hitting $175.55. 130,824 shares of the company’s stock were exchanged. L-3 Communications Holdings, Inc. has a 52-week low of $132.38 and a 52-week high of $180.73. The stock has a market cap of $13.67 billion, a P/E ratio of 21.41 and a beta of 1.14. The firm has a 50 day moving average price of $169.79 and a 200-day moving average price of $165.71.
L-3 Communications Holdings (NYSE:LLL) last announced its quarterly earnings data on Thursday, July 27th. The aerospace company reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.18. L-3 Communications Holdings had a net margin of 5.98% and a return on equity of 13.90%. The business had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same period last year, the firm posted $1.88 EPS. The company’s revenue was up 2.6% on a year-over-year basis. Analysts predict that L-3 Communications Holdings, Inc. will post $8.76 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 17th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Tuesday, August 15th. L-3 Communications Holdings’s dividend payout ratio (DPR) is currently 36.54%.
L-3 Communications Holdings declared that its board has approved a share repurchase plan on Tuesday, May 9th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the aerospace company to purchase up to 11.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
LLL has been the subject of a number of research reports. Zacks Investment Research upgraded L-3 Communications Holdings from a hold rating to a buy rating and set a $187.00 target price for the company in a research report on Wednesday, March 29th. Deutsche Bank AG increased their target price 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. Jefferies Group LLC reiterated a hold rating and set a $170.00 target price (up from $160.00) on shares of L-3 Communications Holdings in a research report on Saturday, April 29th. Barclays PLC downgraded L-3 Communications Holdings from an overweight rating to an equal weight rating and increased their target price for the company from $165.00 to $175.00 in a research report on Monday, May 1st. Finally, Royal Bank Of Canada reiterated a hold rating and set a $178.00 target price on shares of L-3 Communications Holdings in a research report on Friday, June 2nd. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. L-3 Communications Holdings currently has an average rating of Hold and an average target price of $179.18.
In other news, Chairman Michael T. Strianese sold 22,547 shares of L-3 Communications Holdings stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $169.02, for a total transaction of $3,810,893.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 67,641 shares of company stock valued at $11,432,231. Corporate insiders own 2.90% of the company’s stock.
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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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