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Defense Stocks' Q3 Earnings Slated for Oct 27: LLL, RTN
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Last week, we saw Textron Inc. (TXT - Free Report) kick-starting the Q3 earnings season for the defense sector with its quarterly numbers. Yesterday, sector behemoth Lockheed Martin Corp. (LMT - Free Report) reported third-quarter results. Meanwhile, a few big names of the sector — The Boeing Company (BA - Free Report) , General Dynamics Corporation (GD - Free Report) and Northrop Grumman Corporation (NOC - Free Report) — are scheduled to report third-quarter results today. For the rest of the week too, we have several other defense companies lining up to reveal financial numbers.
As of Oct 21, 29.7% of the market cap of the S&P 500 index has reported quarterly results, marking a 3.3% increase in earnings on 1.8% higher revenues. Overall, earnings are anticipated to record a 0.1% increase on 1.5% higher revenues, with 7 of the 16 Zacks sectors witnessing growth in the negative territory. The picture should become clearer by the end of this week after the scheduled earnings releases by the majority of the index members.
Notably, projections for the aerospace and defense sector hint at a dismal quarter, in fact, worse than the overall forecast for the S&P 500 cohort. Sector earnings are likely to decline 1.3% on 3.3% deterioration in revenues. For more details on quarterly releases, you can go through our Earnings Preview report.
Let’s take a look at a couple of major defense companies that are scheduled to release quarterly results before the opening bell on Oct 27.
L-3 Communications Holdings Inc. posted a positive earnings surprise of 11.90% in the preceding quarter.
Our proven model shows that L-3 Communications is likely to beat earnings this quarter. This is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), #2 (Buy) or #3 (Hold) for this to happen and L-3 Communications has the right mix. Please check our Earnings ESP Filter that enables you to find stocks that are expected to come out with earnings surprises.
Raytheon Company , a Zacks Rank #4(Sell) stock, posted a positive earnings surprise of 2.94% last quarter.
The company has an Earnings ESP of +1.22%. That is because the Most Accurate estimate is $1.66, while the Zacks Consensus Estimate is pegged lower at $1.64. (Read more: Raytheon to Report Q3 Earnings: What's in Store?)
Stay tuned! Check later for our full write-up on earnings releases of these stocks.
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Defense Stocks' Q3 Earnings Slated for Oct 27: LLL, RTN
Last week, we saw Textron Inc. (TXT - Free Report) kick-starting the Q3 earnings season for the defense sector with its quarterly numbers. Yesterday, sector behemoth Lockheed Martin Corp. (LMT - Free Report) reported third-quarter results. Meanwhile, a few big names of the sector — The Boeing Company (BA - Free Report) , General Dynamics Corporation (GD - Free Report) and Northrop Grumman Corporation (NOC - Free Report) — are scheduled to report third-quarter results today. For the rest of the week too, we have several other defense companies lining up to reveal financial numbers.
As of Oct 21, 29.7% of the market cap of the S&P 500 index has reported quarterly results, marking a 3.3% increase in earnings on 1.8% higher revenues. Overall, earnings are anticipated to record a 0.1% increase on 1.5% higher revenues, with 7 of the 16 Zacks sectors witnessing growth in the negative territory. The picture should become clearer by the end of this week after the scheduled earnings releases by the majority of the index members.
Notably, projections for the aerospace and defense sector hint at a dismal quarter, in fact, worse than the overall forecast for the S&P 500 cohort. Sector earnings are likely to decline 1.3% on 3.3% deterioration in revenues. For more details on quarterly releases, you can go through our Earnings Preview report.
Let’s take a look at a couple of major defense companies that are scheduled to release quarterly results before the opening bell on Oct 27.
L-3 Communications Holdings Inc. posted a positive earnings surprise of 11.90% in the preceding quarter.
Our proven model shows that L-3 Communications is likely to beat earnings this quarter. This is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), #2 (Buy) or #3 (Hold) for this to happen and L-3 Communications has the right mix. Please check our Earnings ESP Filter that enables you to find stocks that are expected to come out with earnings surprises.
L-3 Communications carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here. The company has an Earnings ESP of +2.75% because the Most Accurate estimate stands at $1.87, while the Zacks Consensus Estimate is pegged slightly lower at $1.82. (Read more: L-3 Communications Q3 Earnings: A Beat in Store?)
L-3 COMM HLDGS Price and EPS Surprise
L-3 COMM HLDGS Price and EPS Surprise | L-3 COMM HLDGS Quote
Raytheon Company , a Zacks Rank #4(Sell) stock, posted a positive earnings surprise of 2.94% last quarter.
The company has an Earnings ESP of +1.22%. That is because the Most Accurate estimate is $1.66, while the Zacks Consensus Estimate is pegged lower at $1.64. (Read more: Raytheon to Report Q3 Earnings: What's in Store?)
RAYTHEON CO Price and EPS Surprise
RAYTHEON CO Price and EPS Surprise | RAYTHEON CO Quote
Stay tuned! Check later for our full write-up on earnings releases of these stocks.
Zacks' Best Investment Ideas for Long-Term Profit
Today you can gain access to long-term trades with double and triple-digit profit potential rarely available to the public. Starting now, you can look inside our stocks under $10, home run and value stock portfolios, plus more. Want a peek at this private information? Click here >>