The Zacks Rank Buys featured in this article are: Elbit Systems Ltd. (ESLT), Buckle, Inc. (BKE), Lumber liquidators, Inc. (LL), Gymboree Corp (GYMB), and Pennantpark Investment Corp (PNNT).
Elbit Systems Ltd. (ESLT) has been surging since it was originally featured as a Zacks Rank Buy back in March.
An Excellent Quarter
The Israeli defense company reported first-quarter results on May 20 that included a record backlog of $5.1 billion. Revenues rose 6.6% to $657 million. Growth in the communication equipment and unmanned air craft drove the increase in revenues.
Positive Comments
In the same release the President and CEO of Elbit, Joseph Ackerman said, “We have also witnessed continued demand in other areas of our activity. Based on all these factors, we expect a double digit growth in revenues in 2009, as compared to 2008.” Mr. Ackerman continued, “Based on our recent acquisitions, as well as our recent announcements regarding cooperation with industry leaders, we continue to feel confident about our future success.”
Estimates Spike
Following the earnings release the consensus estimate for 2009 jumped to $4.35, up from $3.88. Estimates for 2010 are averaging $5.06, up from $4.43. These projections would yield year-over-year growth rates of 31% and 16%, respectively.
The Chart
The recent quarter was enough to propel shares to set and continue to pressure a new 52-week high. Take a look below.
Read the March 18th Feature Here
Last Week’s Aggressive Growth Zacks Rank Buy Stocks
Buckle, Inc. (BKE) reported a great first quarter as sales, earnings, and forecasts are all on the rise.
Lumber liquidators, Inc. (LL) is expanding its footprint throughout the U.S. and earnings continue to grow.
Gymboree Corp (GYMB) is on fire after a solid quarterly report proceeded by excellent sales and earnings guidance.
Pennantpark Investment Corp (PNNT) has been screaming over the past few months and another solid quarterly announcement added fuel to the fire. Zacks Investment Research
