Elbit Systems (NASDAQ:ESLT) Hits New 1-Year High – Here’s Why
by Scott Moore · The Cerbat GemElbit Systems Ltd. (NASDAQ:ESLT – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $724.92 and last traded at $721.2190, with a volume of 86855 shares traded. The stock had previously closed at $699.50.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the company. Zacks Research cut Elbit Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Morgan Stanley assumed coverage on shares of Elbit Systems in a research note on Thursday, December 11th. They issued an “equal weight” rating and a $531.00 price objective on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Elbit Systems in a research report on Monday, December 29th. Wall Street Zen downgraded shares of Elbit Systems from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Finally, JPMorgan Chase & Co. lifted their price target on Elbit Systems from $530.00 to $580.00 and gave the company a “neutral” rating in a report on Friday, December 19th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Elbit Systems presently has an average rating of “Hold” and an average target price of $550.33.
Read Our Latest Research Report on ESLT
Elbit Systems Price Performance
The stock has a market cap of $32.03 billion, a price-to-earnings ratio of 73.23, a P/E/G ratio of 2.18 and a beta of 0.22. The company has a 50 day simple moving average of $532.40 and a 200-day simple moving average of $495.44. The company has a current ratio of 1.32, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06.
Elbit Systems (NASDAQ:ESLT – Get Free Report) last posted its quarterly earnings data on Tuesday, November 18th. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.75 by $0.60. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.99 billion. Elbit Systems had a return on equity of 15.04% and a net margin of 5.91%. Research analysts expect that Elbit Systems Ltd. will post 8.05 EPS for the current year.
Elbit Systems Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Monday, December 22nd were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, December 22nd. Elbit Systems’s payout ratio is currently 22.87%.
Institutional Investors Weigh In On Elbit Systems
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CoreCap Advisors LLC acquired a new position in shares of Elbit Systems during the 4th quarter worth about $26,000. USA Financial Formulas bought a new stake in Elbit Systems during the third quarter worth about $26,000. Activest Wealth Management acquired a new position in Elbit Systems during the second quarter valued at approximately $28,000. Traub Capital Management LLC bought a new position in Elbit Systems in the second quarter valued at approximately $31,000. Finally, Financial Consulate Inc. acquired a new position in shares of Elbit Systems during the 3rd quarter worth approximately $60,000. 17.88% of the stock is currently owned by institutional investors and hedge funds.
Elbit Systems Company Profile
Elbit Systems Ltd. is an Israel-based defense electronics company that designs, develops and supplies a broad range of systems for military, homeland security and commercial aviation customers. The company focuses on integrated, platform-level solutions that combine sensors, communications, command-and-control software and weapons integration to support intelligence, surveillance and reconnaissance (ISR), force protection and mission management.
Its product and service portfolio spans unmanned aircraft systems, electro-optic and signal intelligence systems, electronic warfare and communications equipment, avionics and mission systems for military and commercial aircraft, and land and naval systems.