Zacks: Brokerages Anticipate L3 Technologies Inc (NYSE:LLL) Will Announce Quarterly Sales of $2.72 Billion

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Analysts predict that L3 Technologies Inc (NYSE:LLL) will post $2.72 billion in sales for the current quarter, Zacks reports. Three analysts have made estimates for L3 Technologies’ earnings. The highest sales estimate is $2.73 billion and the lowest is $2.69 billion. L3 Technologies posted sales of $2.58 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 5.4%. The company is scheduled to issue its next earnings results on Thursday, July 25th.

On average, analysts expect that L3 Technologies will report full-year sales of $10.95 billion for the current year, with estimates ranging from $10.85 billion to $11.08 billion. For the next financial year, analysts expect that the company will post sales of $11.59 billion, with estimates ranging from $11.41 billion to $11.84 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover L3 Technologies.

L3 Technologies (NYSE:LLL) last released its earnings results on Wednesday, May 1st. The aerospace company reported $2.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.52 by $0.37. The firm had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.53 billion. L3 Technologies had a net margin of 9.64% and a return on equity of 15.50%. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.34 EPS.

Several research analysts recently issued reports on the stock. Barclays upped their price target on shares of L3 Technologies from $245.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. ValuEngine upgraded shares of L3 Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th. SunTrust Banks upgraded shares of L3 Technologies to a “buy” rating and set a $265.00 price target on the stock in a research report on Thursday, May 2nd. Credit Suisse Group increased their target price on L3 Technologies from $232.00 to $258.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Finally, Cowen reaffirmed a “buy” rating and set a $250.00 price target on shares of L3 Technologies in a research note on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. L3 Technologies presently has an average rating of “Buy” and an average target price of $238.33.

Shares of LLL traded up $1.62 during trading hours on Friday, hitting $245.65. The stock had a trading volume of 399,300 shares, compared to its average volume of 541,563. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.65 and a current ratio of 2.02. L3 Technologies has a 52 week low of $158.76 and a 52 week high of $259.58. The firm has a market cap of $19.33 billion, a price-to-earnings ratio of 22.85, a PEG ratio of 2.22 and a beta of 1.07.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Friday, May 17th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Thursday, May 16th. L3 Technologies’s dividend payout ratio is currently 31.63%.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Simmons Bank lifted its position in shares of L3 Technologies by 3.6% during the 1st quarter. Simmons Bank now owns 1,359 shares of the aerospace company’s stock valued at $280,000 after buying an additional 47 shares during the last quarter. Oakbrook Investments LLC grew its position in L3 Technologies by 1.3% during the 1st quarter. Oakbrook Investments LLC now owns 3,760 shares of the aerospace company’s stock worth $776,000 after acquiring an additional 50 shares during the last quarter. Bronfman E.L. Rothschild L.P. grew its position in L3 Technologies by 8.5% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 653 shares of the aerospace company’s stock worth $113,000 after acquiring an additional 51 shares during the last quarter. First Commonwealth Financial Corp PA grew its position in shares of L3 Technologies by 2.9% in the 4th quarter. First Commonwealth Financial Corp PA now owns 2,190 shares of the aerospace company’s stock worth $380,000 after buying an additional 62 shares during the last quarter. Finally, Mosaic Family Wealth LLC grew its position in shares of L3 Technologies by 36.1% in the 4th quarter. Mosaic Family Wealth LLC now owns 264 shares of the aerospace company’s stock worth $46,000 after buying an additional 70 shares during the last quarter. 82.31% of the stock is currently owned by hedge funds and other institutional investors.

About L3 Technologies

L3 Technologies, Inc provides aircraft sustainment, simulation and training, night vision and image intensification equipment, and security and detection systems used on military, homeland security, and commercial platforms in the United States and internationally. It operates in three segments: Intelligence, Surveillance and Reconnaissance (ISR) Systems; Communications and Networked Systems (C&NS); and Electronic Systems.

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