Elbit Systems (ESLT) came out with quarterly earnings of $2.08 per share, beating the Zacks Consensus Estimate of $1.77 per share. This compares to earnings of $1.57 per share a year ago.
It is quite possible that not only will presumptive Republican nominee Donald Trump win the White House in November but the Grand Old Party may also pick up seats in the House and capture the Senate. Democrats, particularly in vulnerable swing states, were worried that a tsunami of epic proportions would wash over the elections if President Joe Biden remained on the ticket.
Elbit (ESLT) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
LAUR, ESLT and LNTH made it to the Zacks Rank #1 (Strong Buy) value stocks list on June 21, 2024.
Elbit (ESLT) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.
Elbit Systems Ltd. (NASDAQ:ESLT ) Q1 2024 Earnings Conference Call May 28, 2024 9:00 AM ET Company Participants David Ravia - VP, IR Kobi Kagan - EVP & CFO Butzi Machlis - President & CEO Conference Call Participants Peter Skibitski - Alembic Global Sheila Kahyaoglu - Jefferies Omri Efroni - Oppenheimer Operator Ladies and gentlemen, thank you for standing by.