Elbit Systems Ltd. (NASDAQ:ESLT – Get Free Report) was the target of a significant drop in short interest in October. As of October 15th, there was short interest totalling 47,700 shares, a drop of 22.3% from the September 30th total of 61,400 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily volume of 23,300 shares, the short-interest ratio is currently 2.0 days.
Analyst Upgrades and Downgrades
Separately, StockNews.com raised Elbit Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 16th.
Read Our Latest Analysis on ESLT
Hedge Funds Weigh In On Elbit Systems
Elbit Systems Trading Up 0.3 %
Shares of NASDAQ ESLT traded up $0.73 during trading hours on Wednesday, hitting $228.24. The company’s stock had a trading volume of 34,789 shares, compared to its average volume of 23,479. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 1.13. The stock has a market cap of $10.15 billion, a price-to-earnings ratio of 41.96 and a beta of 0.53. Elbit Systems has a 12 month low of $175.30 and a 12 month high of $230.64. The business has a 50-day simple moving average of $203.41 and a 200-day simple moving average of $195.34.
Elbit Systems (NASDAQ:ESLT – Get Free Report) last posted its quarterly earnings data on Wednesday, August 14th. The aerospace company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.31. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Elbit Systems had a return on equity of 10.70% and a net margin of 3.85%. During the same period in the previous year, the firm posted $1.57 EPS. On average, analysts anticipate that Elbit Systems will post 7.8 earnings per share for the current fiscal year.
Elbit Systems Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Tuesday, October 15th were issued a dividend of $0.416 per share. The ex-dividend date was Tuesday, October 15th. This represents a $1.66 annualized dividend and a dividend yield of 0.73%. Elbit Systems’s payout ratio is 30.51%.
About Elbit Systems
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.
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