Brokerages Expect L-3 Communications Holdings, Inc. (LLL) Will Post Quarterly Sales of $2.69 Billion

Brokerages expect that L-3 Communications Holdings, Inc. (NYSE:LLL) will report sales of $2.69 billion for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for L-3 Communications Holdings’ earnings, with the highest sales estimate coming in at $2.78 billion and the lowest estimate coming in at $2.60 billion. L-3 Communications Holdings reported sales of $2.51 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 7.2%. The business is scheduled to issue its next quarterly earnings report on Thursday, October 26th.

On average, analysts expect that L-3 Communications Holdings will report full year sales of $2.69 billion for the current fiscal year, with estimates ranging from $10.93 billion to $11.10 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $11.30 billion per share, with estimates ranging from $11.16 billion to $11.53 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover L-3 Communications Holdings.

L-3 Communications Holdings (NYSE:LLL) last posted its earnings results on Thursday, July 27th. The aerospace company reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.18. The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.70 billion. L-3 Communications Holdings had a net margin of 6.44% and a return on equity of 14.15%. L-3 Communications Holdings’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.88 EPS.

A number of analysts recently issued reports on the stock. Deutsche Bank AG lifted their price target on shares of L-3 Communications Holdings from $175.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Cowen and Company restated a “buy” rating and issued a $185.00 price target on shares of L-3 Communications Holdings in a research note on Thursday, July 20th. Drexel Hamilton upgraded shares of L-3 Communications Holdings from a “hold” rating to a “buy” rating in a research note on Tuesday. Goldman Sachs Group, Inc. (The) upgraded shares of L-3 Communications Holdings from a “buy” rating to a “conviction-buy” rating in a research note on Monday. Finally, Barclays PLC lowered shares of L-3 Communications Holdings from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $165.00 to $175.00 in a research note on Monday, May 1st. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $180.09.

In other L-3 Communications Holdings news, insider Michael T. Strianese sold 22,547 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $173.49, for a total transaction of $3,911,679.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have sold 67,641 shares of company stock valued at $11,511,371. 2.90% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in L-3 Communications Holdings by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,786 shares of the aerospace company’s stock valued at $967,000 after buying an additional 15 shares during the last quarter. Cipher Capital LP raised its stake in L-3 Communications Holdings by 174.5% in the second quarter. Cipher Capital LP now owns 22,581 shares of the aerospace company’s stock valued at $3,773,000 after buying an additional 14,356 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in L-3 Communications Holdings by 103.1% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 654 shares of the aerospace company’s stock valued at $109,000 after buying an additional 332 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in L-3 Communications Holdings by 7.4% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 6,134 shares of the aerospace company’s stock valued at $1,025,000 after buying an additional 424 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in L-3 Communications Holdings by 2.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,992 shares of the aerospace company’s stock valued at $2,171,000 after buying an additional 324 shares during the last quarter. Hedge funds and other institutional investors own 81.21% of the company’s stock.

L-3 Communications Holdings (NYSE LLL) traded up 1.67% during trading on Friday, reaching $181.16. 409,228 shares of the company’s stock traded hands. The firm has a 50 day moving average of $171.61 and a 200 day moving average of $166.79. L-3 Communications Holdings has a 1-year low of $132.38 and a 1-year high of $181.79. The firm has a market capitalization of $14.17 billion, a PE ratio of 20.42 and a beta of 1.15.

L-3 Communications Holdings announced that its board has authorized a stock repurchase plan on Tuesday, May 9th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the aerospace company to reacquire up to 11.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 17th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $3.00 annualized dividend and a yield of 1.68%. L-3 Communications Holdings’s payout ratio is 33.82%.

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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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Earnings History and Estimates for L-3 Communications Holdings (NYSE:LLL)

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