Elbit Systems (NASDAQ:ESLT) Announces Quarterly Earnings Results, Beats Expectations By $0.48 EPS

Elbit Systems (NASDAQ:ESLT) announced its quarterly earnings data on Monday. The aerospace company reported $2.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.85 by $0.48, Fidelity Earnings reports. Elbit Systems had a return on equity of 15.12% and a net margin of 5.25%. During the same period last year, the company earned $1.64 earnings per share.

ESLT opened at $152.32 on Wednesday. The firm has a market capitalization of $6.73 billion, a P/E ratio of 26.04 and a beta of 0.84. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.12 and a quick ratio of 0.73. Elbit Systems has a 1-year low of $116.60 and a 1-year high of $162.77. The business has a 50 day moving average price of $148.47.

Separately, Zacks Investment Research lowered Elbit Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 12th.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Citadel Advisors LLC acquired a new stake in Elbit Systems in the second quarter worth approximately $220,000. Royal Bank of Canada lifted its position in shares of Elbit Systems by 10.6% during the 3rd quarter. Royal Bank of Canada now owns 2,658 shares of the aerospace company’s stock valued at $385,000 after acquiring an additional 255 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Elbit Systems by 804.9% during the 2nd quarter. Wells Fargo & Company MN now owns 9,909 shares of the aerospace company’s stock valued at $1,283,000 after acquiring an additional 8,814 shares during the last quarter. Morgan Stanley lifted its position in shares of Elbit Systems by 16.3% during the 2nd quarter. Morgan Stanley now owns 20,634 shares of the aerospace company’s stock valued at $2,678,000 after acquiring an additional 2,899 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Elbit Systems by 1.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 48,362 shares of the aerospace company’s stock valued at $7,005,000 after acquiring an additional 527 shares during the last quarter. Hedge funds and other institutional investors own 12.02% of the company’s stock.

About Elbit Systems

Elbit Systems Ltd. is a technology company, which engages in the development and distribution of defense and homeland security solutions. Its portfolio includes airborne, land, and naval systems and products for defense, homeland security, and commercial applications. The company was founded in 1996 and is headquartered in Haifa, Israel.

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Earnings History for Elbit Systems (NASDAQ:ESLT)

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