Elbit Systems (NASDAQ:ESLT) Stock Rating Raised to Buy at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Elbit Systems (NASDAQ:ESLT – Free Report) from a hold rating to a buy rating in a research note published on Saturday morning,Wall Street Zen reports.

A number of other brokerages have also issued reports on ESLT. Weiss Ratings lowered shares of Elbit Systems from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, August 26th. Zacks Research downgraded shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 24th. Morgan Stanley set a $845.00 price target on shares of Elbit Systems in a research note on Wednesday, July 15th. Jefferies Financial Group decreased their price objective on shares of Elbit Systems from $950.00 to $880.00 and set a “hold” rating for the company in a report on Wednesday, June 24th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Elbit Systems from $950.00 to $885.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 19th. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $870.00.

Get Our Latest Stock Analysis on Elbit Systems

Elbit Systems Trading Down 0.6%

Shares of ESLT stock opened at $735.00 on Friday. Elbit Systems has a 1 year low of $453.00 and a 1 year high of $1,016.06. The firm has a market capitalization of $32.67 billion, a PE ratio of 55.39, a price-to-earnings-growth ratio of 3.06 and a beta of 0.14. The stock has a fifty day moving average of $761.79 and a two-hundred day moving average of $808.36. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.89 and a current ratio of 1.39.

Elbit Systems (NASDAQ:ESLT – Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The aerospace company reported $4.14 EPS for the quarter, beating analysts’ consensus estimates of $3.69 by $0.45. Elbit Systems had a return on equity of 16.66% and a net margin of 7.44%.The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.25 billion. As a group, research analysts expect that Elbit Systems will post 15.61 EPS for the current year.

Elbit Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Shareholders of record on Tuesday, October 13th will be given a $1.00 dividend. The ex-dividend date is Tuesday, October 13th. This represents a $4.00 annualized dividend and a yield of 0.5%. Elbit Systems’s payout ratio is 25.09%.

Hedge Funds Weigh In On Elbit Systems

Several large investors have recently made changes to their positions in ESLT. Royal Bank of Canada raised its holdings in shares of Elbit Systems by 45.8% in the 1st quarter. Royal Bank of Canada now owns 6,039 shares of the aerospace company’s stock worth $5,127,000 after purchasing an additional 1,898 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Elbit Systems during the second quarter valued at approximately $3,633,000. Navellier & Associates Inc. lifted its stake in Elbit Systems by 10.3% during the second quarter. Navellier & Associates Inc. now owns 16,247 shares of the aerospace company’s stock valued at $12,327,000 after purchasing an additional 1,514 shares during the last quarter. Krane Financial Solutions LLC bought a new stake in Elbit Systems during the first quarter worth approximately $1,443,000. Finally, Engineers Gate Manager LP boosted its holdings in Elbit Systems by 542.8% during the second quarter. Engineers Gate Manager LP now owns 2,507 shares of the aerospace company’s stock worth $1,902,000 after buying an additional 2,117 shares in the last quarter. Institutional investors own 17.88% of the company’s stock.

Elbit Systems Company Profile

(Get Free Report)

Elbit Systems Ltd. is an Israel-based international defense technology company that develops and supplies systems for military, homeland security, and commercial aviation applications. The company’s portfolio includes command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) solutions; unmanned aircraft and ground systems; electro-optical and night-vision equipment; electronic warfare and signals intelligence systems; and cyber-related technologies.

Elbit Systems also provides products and services for land forces, including artillery systems, precision-guided munitions, vehicle systems, tactical communications, and fire-control solutions.

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