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Elbit Systems Limited (NASDAQ:ESLT) stock has reached an unprecedented peak, setting an all-time high at $294.13. According to InvestingPro analysis, the stock is currently trading above its Fair Value, with impressive returns of 56% over the past six months and a market capitalization of $13 billion. This milestone reflects a significant surge in the defense and technology company's market performance, with a remarkable 1-year change showing an impressive 41.87% increase. Investors have shown increased confidence in Elbit Systems, as the company continues to expand its global footprint and secures new contracts, reinforcing its position in the defense sector. The company has maintained dividend payments for 28 consecutive years, demonstrating consistent shareholder returns. The all-time high represents not only a 52-week triumph but also a historic level for the company's stock, signaling robust growth and a positive outlook for the future. Get access to 16 additional key insights and comprehensive analysis with an InvestingPro subscription, including the detailed Pro Research Report available for this stock.
In other recent news, Elbit Systems Ltd. reported impressive third quarter results that surpassed analyst estimates on both earnings and revenue. The defense technology company posted adjusted earnings per share of $2.21, significantly outperforming the expected $1.72. Revenue saw a 14.4% year-over-year increase, reaching $1.72 billion, which also exceeded the anticipated $1.63 billion.
These robust results were attributed to increased demand across multiple segments, with the Aerospace division reporting a 7% revenue growth, and the Land division observing a 24% sales surge due to higher ammunition and munition orders. Elbit Systems of America, the company's U.S. subsidiary, also reported a 17% revenue increase.
According to CEO Bezhalel Machlis, the company's order backlog reached a record $22.1 billion as of September 30, offering stability for the company in the coming years. He also mentioned an increased demand for Elbit's products from the Israeli Ministry of Defense since the outbreak of the Israel-Hamas war. The company anticipates this heightened demand to potentially generate additional orders, while acknowledging the full impact of the ongoing conflict remains difficult to predict.
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