Elbit Systems (NASDAQ:ESLT) Issues Quarterly Earnings Results, Beats Expectations By $0.48 EPS

Elbit Systems (NASDAQ:ESLT) released its quarterly earnings results on Monday. The aerospace company reported $2.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.85 by $0.48, Fidelity Earnings reports. Elbit Systems had a return on equity of 15.12% and a net margin of 5.25%. During the same quarter in the previous year, the company posted $1.64 earnings per share.

NASDAQ ESLT traded down $0.93 during midday trading on Wednesday, hitting $151.39. The company had a trading volume of 1,237 shares, compared to its average volume of 36,317. The stock has a market cap of $6.69 billion, a P/E ratio of 25.85 and a beta of 0.84. The company has a quick ratio of 0.73, a current ratio of 1.12 and a debt-to-equity ratio of 0.23. The business has a 50-day moving average of $148.47. Elbit Systems has a twelve month low of $116.60 and a twelve month high of $162.77.

Separately, Zacks Investment Research cut Elbit Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 12th.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Citadel Advisors LLC raised its holdings in Elbit Systems by 14.5% in the 3rd quarter. Citadel Advisors LLC now owns 1,946 shares of the aerospace company’s stock valued at $281,000 after acquiring an additional 247 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Elbit Systems by 10.6% in the 3rd quarter. Royal Bank of Canada now owns 2,658 shares of the aerospace company’s stock valued at $385,000 after purchasing an additional 255 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Elbit Systems by 1.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 48,362 shares of the aerospace company’s stock valued at $7,005,000 after purchasing an additional 527 shares during the last quarter. Morgan Stanley increased its stake in shares of Elbit Systems by 4.3% in the 3rd quarter. Morgan Stanley now owns 21,522 shares of the aerospace company’s stock valued at $3,117,000 after purchasing an additional 888 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Elbit Systems by 804.9% in the 2nd quarter. Wells Fargo & Company MN now owns 9,909 shares of the aerospace company’s stock valued at $1,283,000 after purchasing an additional 8,814 shares during the last quarter. 12.02% of the stock is owned by hedge funds and other institutional investors.

About Elbit Systems

Elbit Systems Ltd. is a technology company, which engages in the development and distribution of defense and homeland security solutions. Its portfolio includes airborne, land, and naval systems and products for defense, homeland security, and commercial applications. The company was founded in 1996 and is headquartered in Haifa, Israel.

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Earnings History for Elbit Systems (NASDAQ:ESLT)

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