L-3 Communications Holdings (LLL) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $1.88 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.19. Analysts had a consensus of $1.69. The company posted revenue of $2664.00 million in the period, compared to analysts expectations of $2492.63 million. The company’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.36 EPS.
Many Wall Street Analysts have commented on L-3 Communications Holdings. L-3 Communications Holdings was Upgraded by Drexel Hamilton to ” Buy” on May 20, 2016. Company shares were Upgraded by RBC Capital Mkts on May 19, 2016 to ” Outperform”, Firm has raised the Price Target to $ 150 from a previous price target of $137 .Company shares were Reiterated by Barclays on May 2, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 133 from a previous price target of $126 .
L-3 Communications Holdings opened for trading at $148.25 and hit $154.5 on the upside on Thursday, eventually ending the session at $149.84, with a gain of 1.63% or 2.4 points. The heightened volatility saw the trading volume jump to 8,48,947 shares. Company has a market cap of $11,531 M.
Investors should note that on Jun 21, 2016, L-3 Communications Holdings announced a cash dividend of $0.7000. The company’s management has announced Aug 15, 2016 as the ex-dividend date and fixed the record date on Aug 17, 2016. The payable date has been fixed on Sep 15, 2016.
In a different news, on May 24, 2016, John S Mega (officer ) sold 7,567 shares at $138.00 per share price. According to the SEC, on May 11, 2016, Ralph Dambrosio (SVP and CFO) sold 10,000 shares at $136.25 per share price. On May 5, 2016, Steven M Post (officer ) sold 16,640 shares at $133.96 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.