L-3 Communications Holdings (LLL) reported quarterly earnings results on Wednesday, Apr-27-2016. The company said it had a profit of $2.08 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.50. Analysts had a consensus of $1.58. The company posted revenue of $2353.00 million in the period, compared to analysts expectations of $2352.59 million. The company’s revenue was down -5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.43 EPS.
Many Wall Street Analysts have commented on L-3 Communications Holdings. Company shares were Reiterated by Barclays on Feb 16, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 126 from a previous price target of $123 .BofA/Merrill Upgraded L-3 Communications Holdings on Feb 1, 2016 to ” Buy”, Price Target of the shares are set at $135.
L-3 Communications Holdings opened for trading at $122.99 and hit $124.66 on the upside on Friday, eventually ending the session at $124.03, with a gain of 0.98% or 1.2 points. The heightened volatility saw the trading volume jump to 6,15,352 shares. Company has a market cap of $9,652 M.
In a different news, on Mar 2, 2016, Michael T Strianese (Chairman and CEO) sold 100,000 shares at $118.35 per share price. According to the SEC, on Mar 2, 2016, Ralph Dambrosio (SVP & Chief Financial Officer) sold 11,000 shares at $118.55 per share price. On Feb 23, 2016, Richard A. Cody (SVP of Washington Operations) sold 6,805 shares at $118.61 per share price, according to the Form-4 filing with the securities and exchange commission.
L-3 Communications Holdings Inc. (L-3 Holdings) operates through its wholly owned operating subsidiary L-3 Communications Corporation (L-3 Communications). L-3 is a prime contractor in intelligence surveillance and reconnaissance (ISR) systems aircraft sustainment (including modifications logistics and maintenance) simulation and training night vision and image intensification equipment enterprise and mission information technology (IT) solutions and cyber operations. L-3 also provides a range of communication and electronic systems and products used on military and commercial platforms. It operates in four segments: Electronic Systems Aerospace Systems Communication Systems and National Security Solutions (NSS). Its customers include the United States Department of Defense and its prime contractors the United States Government intelligence agencies the United States Department of Homeland Security foreign Governments and domestic and international commercial customers.