Elbit Systems (NASDAQ:ESLT) Posts Earnings Results, Beats Expectations By $0.31 EPS

Elbit Systems (NASDAQ:ESLT) issued its quarterly earnings results on Wednesday. The aerospace company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.77 by $0.31, Zacks reports. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Elbit Systems had a net margin of 3.70% and a return on equity of 10.14%. During the same period in the previous year, the firm posted $1.57 EPS.

Elbit Systems Price Performance

ESLT traded up $0.80 during trading on Friday, hitting $200.17. 17,118 shares of the stock traded hands, compared to its average volume of 23,370. The business has a 50 day moving average price of $184.38 and a 200 day moving average price of $197.08. The company has a market cap of $8.90 billion, a price-to-earnings ratio of 39.40 and a beta of 0.53. Elbit Systems has a twelve month low of $175.30 and a twelve month high of $225.64. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.16 and a quick ratio of 0.66.

Elbit Systems Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Tuesday, October 15th will be given a dividend of $0.416 per share. The ex-dividend date is Tuesday, October 15th. This represents a $1.66 annualized dividend and a dividend yield of 0.83%. Elbit Systems’s dividend payout ratio is 32.68%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Elbit Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday.

Elbit Systems Company Profile

Elbit Systems Ltd. develops and supplies a portfolio of airborne, land, and naval systems and products for the defense, homeland security, and commercial aviation applications primarily in Israel. The company operates through Aerospace, C4I and Cyber, ISTAR and EW, Land, and Elbit Systems of America segments.