L-3 Communications (LLL) Reports 3Q EPS Beat; RBC Capital Raises Price Target to $131.00

RBC Capital reiterated a Sector Perform rating on L-3 Communications (NYSE: LLL), and raised the price target to $131.00 (from $121.00), following the company's 3Q earnings results. L-3 reported a loss per share of $3.74, versus the consensus EPS forecast of $1.82. L-3 also introduced 2016 guidance. This projects revenues to be down 3% YoY (-1.6% organic), with 80bps of margin expansion. EPS is expected to be up 6% YoY, which implies $7.27 versus the mid point of the revised 2015 guidance ($6.80-6.90 adjusted).

Analyst Robert Stallard commented, "L-3 reported a loss per share of $3.74, versus the consensus EPS forecast of $1.82. On an adjusted basis, excluding a $491m goodwill write off in NSS, EPS came in at $2.09. Although revenues were modestly below our forecasts, margins in three of the four divisions were good. The problem was NSS - sales down 14%, with a meager 2.7% margin. L-3 noted continued pricing pressure and award delays in this division."

For an analyst ratings summary and ratings history on L-3 Communications click here. For more ratings news on L-3 Communications click here.

Shares of L-3 Communications closed at $125.59 yesterday.

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