Ultra Electronics (LON:ULE) Issues Earnings Results, Beats Estimates By $2.50 EPS

Ultra Electronics (LON:ULE) posted its quarterly earnings data on Wednesday. The company reported GBX 52.50 ($0.69) EPS for the quarter, topping analysts’ consensus estimates of GBX 50 ($0.65) by GBX 2.50 ($0.03), Digital Look Earnings reports.

Ultra Electronics stock traded up GBX 28 ($0.37) during midday trading on Friday, reaching GBX 2,148 ($28.07). The stock had a trading volume of 159,658 shares, compared to its average volume of 529,114. The firm has a fifty day moving average of GBX 1,773.02. Ultra Electronics has a twelve month low of GBX 1,200 ($15.68) and a twelve month high of GBX 2,074 ($27.10). The company has a debt-to-equity ratio of 60.30, a quick ratio of 0.72 and a current ratio of 1.02. The firm has a market cap of $1.52 billion and a price-to-earnings ratio of 49.27.

The company also recently disclosed a dividend, which will be paid on Friday, September 20th. Investors of record on Thursday, August 29th will be paid a GBX 15 ($0.20) dividend. This represents a yield of 0.77%. The ex-dividend date is Thursday, August 29th. Ultra Electronics’s dividend payout ratio is 1.19%.

ULE has been the subject of a number of recent analyst reports. Jefferies Financial Group initiated coverage on shares of Ultra Electronics in a research note on Wednesday, May 29th. They issued a “hold” rating and a GBX 1,775 ($23.19) price objective for the company. JPMorgan Chase & Co. raised their price objective on shares of Ultra Electronics from GBX 1,820 ($23.78) to GBX 2,200 ($28.75) and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Credit Suisse Group raised their price objective on shares of Ultra Electronics from GBX 1,900 ($24.83) to GBX 2,250 ($29.40) and gave the stock an “outperform” rating in a research note on Friday. Numis Securities initiated coverage on shares of Ultra Electronics in a research note on Wednesday, May 8th. They issued an “add” rating and a GBX 1,850 ($24.17) price objective for the company. Finally, Peel Hunt raised their price objective on shares of Ultra Electronics from GBX 1,700 ($22.21) to GBX 2,050 ($26.79) and gave the stock an “add” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of GBX 1,823.38 ($23.83).

Ultra Electronics Company Profile

Ultra Electronics Holdings plc, an electrical and electronics engineering company, provides various solutions and products in the defense and aerospace, security, transport, and energy markets. The company operates in three segments: Aerospace & Infrastructure, Communications & Security, and Maritime & Land.

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