Elbit Systems Ltd. (NASDAQ:ESLT - Get Free Report) announced a quarterly dividend on Wednesday, March 19th, Wall Street Journal reports. Stockholders of record on Tuesday, April 22nd will be given a dividend of 0.60 per share by the aerospace company on Monday, May 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend is Tuesday, April 22nd. This is a 20.0% increase from Elbit Systems's previous quarterly dividend of $0.50.
Elbit Systems has raised its dividend by an average of 3.6% per year over the last three years. Elbit Systems has a payout ratio of 17.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Elbit Systems to earn $8.85 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 22.6%.
Elbit Systems Stock Performance
Shares of ESLT traded down $2.17 during midday trading on Friday, reaching $410.83. 150,487 shares of the stock were exchanged, compared to its average volume of 33,472. Elbit Systems has a twelve month low of $175.30 and a twelve month high of $420.00. The company has a quick ratio of 0.64, a current ratio of 1.15 and a debt-to-equity ratio of 0.10. The company has a market cap of $18.26 billion, a P/E ratio of 70.23 and a beta of 0.53. The stock's 50 day simple moving average is $321.05 and its 200 day simple moving average is $261.79.
Elbit Systems (NASDAQ:ESLT - Get Free Report) last posted its earnings results on Tuesday, March 18th. The aerospace company reported $2.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.95 by $0.71. Elbit Systems had a return on equity of 11.34% and a net margin of 4.00%. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.78 billion. On average, sell-side analysts expect that Elbit Systems will post 8.05 earnings per share for the current year.
Wall Street Analyst Weigh In
Separately, StockNews.com downgraded Elbit Systems from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 25th.
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About Elbit Systems
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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.
Further Reading
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