Elbit Systems (NASDAQ:ESLT) Announces Earnings Results

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

NASDAQ ESLT opened at $152.32 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 0.73 and a debt-to-equity ratio of 0.23. The company 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. The company has a market capitalization of $6.73 billion, a PE ratio of 26.04 and a beta of 0.84.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC bought a new stake in shares of Elbit Systems in the second quarter valued at about $220,000. Royal Bank of Canada raised its position in Elbit Systems by 10.6% in the third quarter. Royal Bank of Canada now owns 2,658 shares of the aerospace company’s stock worth $385,000 after purchasing an additional 255 shares in the last quarter. Wells Fargo & Company MN raised its position in Elbit Systems by 804.9% in the second quarter. Wells Fargo & Company MN now owns 9,909 shares of the aerospace company’s stock worth $1,283,000 after purchasing an additional 8,814 shares in the last quarter. Morgan Stanley raised its position in Elbit Systems by 16.3% in the second quarter. Morgan Stanley now owns 20,634 shares of the aerospace company’s stock worth $2,678,000 after purchasing an additional 2,899 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Elbit Systems by 1.1% in the third quarter. Bank of New York Mellon Corp now owns 48,362 shares of the aerospace company’s stock worth $7,005,000 after purchasing an additional 527 shares in the last quarter. Institutional investors and hedge funds own 12.02% of the company’s stock.

Elbit Systems Company Profile

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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