Equities research analysts predict that L3 Technologies Inc (NYSE:LLL) will announce $2.48 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for L3 Technologies’ earnings. The lowest sales estimate is $2.44 billion and the highest is $2.52 billion. L3 Technologies reported sales of $2.73 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 9.2%. The company is expected to announce its next quarterly earnings report on Thursday, July 26th.
According to Zacks, analysts expect that L3 Technologies will report full year sales of $9.98 billion for the current financial year, with estimates ranging from $9.84 billion to $10.07 billion. For the next financial year, analysts forecast that the business will post sales of $10.45 billion per share, with estimates ranging from $10.21 billion to $10.58 billion. Zacks’ sales averages are an average based on a survey of research firms that cover L3 Technologies.
L3 Technologies (NYSE:LLL) last posted its earnings results on Tuesday, May 1st. The aerospace company reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.33. L3 Technologies had a net margin of 6.94% and a return on equity of 13.74%. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the previous year, the firm posted $2.07 earnings per share. The firm’s quarterly revenue was up 2.2% on a year-over-year basis.
A number of brokerages have recently weighed in on LLL. Zacks Investment Research lowered shares of L3 Technologies from a “buy” rating to a “hold” rating in a report on Monday, March 12th. Barclays assumed coverage on shares of L3 Technologies in a report on Thursday, March 29th. They issued an “overweight” rating and a $274.00 target price on the stock. Credit Suisse Group lowered their target price on shares of L3 Technologies from $244.00 to $218.00 and set an “outperform” rating on the stock in a report on Tuesday, May 22nd. ValuEngine downgraded shares of L3 Technologies from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Stifel Nicolaus lifted their target price on shares of L3 Technologies from $215.00 to $220.00 and gave the company a “hold” rating in a report on Wednesday, May 2nd. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $222.55.
L3 Technologies traded up $1.24, hitting $194.14, during trading hours on Thursday, according to MarketBeat. 736,475 shares of the company’s stock traded hands, compared to its average volume of 552,534. L3 Technologies has a 52-week low of $164.34 and a 52-week high of $218.71. The stock has a market cap of $15.14 billion, a PE ratio of 22.92, a P/E/G ratio of 2.32 and a beta of 1.21. The company has a current ratio of 1.92, a quick ratio of 1.49 and a debt-to-equity ratio of 0.63.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Friday, May 18th were issued a $0.80 dividend. The ex-dividend date of this dividend was Thursday, May 17th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.65%. L3 Technologies’s dividend payout ratio is 37.78%.
In related news, Chairman Michael T. Strianese sold 39,515 shares of L3 Technologies stock in a transaction dated Monday, May 7th. The stock was sold at an average price of $187.05, for a total value of $7,391,280.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 276,605 shares of company stock valued at $56,587,456 over the last ninety days. 2.90% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in LLL. Certified Advisory Corp bought a new position in shares of L3 Technologies in the fourth quarter valued at approximately $128,000. Institutional & Family Asset Management LLC acquired a new position in L3 Technologies during the first quarter valued at $129,000. Kings Point Capital Management acquired a new position in L3 Technologies during the fourth quarter valued at $158,000. Bray Capital Advisors acquired a new position in L3 Technologies during the first quarter valued at $177,000. Finally, NEXT Financial Group Inc acquired a new position in L3 Technologies during the first quarter valued at $203,000. Institutional investors and hedge funds own 80.36% of the company’s stock.
L3 Technologies Company Profile
L3 Technologies, Inc provides aerospace systems, communication, electronic, and sensor systems used on military, homeland security, and commercial platforms in the United States and internationally. It offers simulation and training, night vision and image intensification equipment, and security and detection systems; and components, products, subsystems, and systems, as well as related services to military and commercial customers in various business areas, such as total training solutions, power and propulsion systems, aviation products, precision engagement systems, and security and detection systems.
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