Stock Update: L-3 Communications Holdings, Inc. (NYSE:LLL)

[Zacks] L-3 Communications Holdings, Inc. (NYSE:LLL) is scheduled to report third-quarter 2014 results before the opening bell on Oct 30. Last quarter, L-3 Communications posted a 2.5% negative earnings surprise. Let’s see how things are shaping up for the third quarter.L-3 Communications Holdings operates through its wholly owned subsidiary, L-3 Communications Corporation (L-3). L-3 Communications is a leading supplier of a broad range of aerospace and defense products.Stock PerformanceTaking a look at the company’s recent performance, L-3 Communications Holdings, Inc. (LLL) reported Second quarter earnings for fiscal 2014 on July 31^st. The company reported actual earnings per share of $1.96 against the consensus Street estimate of $2.02. This represents year over year downfall of 3.57%. L-3 Communications Holdings posted revenue of $3.02 billion against estimates of $2.99 billion.L-3 Communications Holdings, Inc. (LLL) is currently valued at $9.99 billion and closed the last trading session at $117.49. The stock has a 50-day moving average of $112.45 and a 200-day moving average of $116.08.

Is this a Buying Opportunity?There are currently eight analysts that we track that cover the stock. Of those eight, five have a Buy rating, two have a hold rating and one has a sell rating. On a consensus basis this yields a score of 2.50 and a Buy. The combined price objective of these covering analysts is $126.40, which represents a 14.08% upside difference to the last closing price.The most recent analyst activity consisted of Oppenheimerupgrading their outperform stance on the company. Oppenheimer has a price target of $128.00 which represents an upside of 13.31% from the last closing price. On the date of the report, the stock closed at $112.96.Another research firm weighing in recently was Barclays who Barclays Reiterated Rating with equal weight stance on the stock. On August 11^th Barclays downgraded their price target on the stock from $124.00 to $116.00, a 2.58% upside to the current price. On the day of the report, LLL shares closed at $104.12.Company ProfileL-3 Communications Holdings, Inc. (NYSE:LLL) through its subsidiary, L-3 Communications Corporation, provides command, control, communications, intelligence, surveillance, and reconnaissance (C3ISR) systems; aircraft modernization and maintenance; and national security solutions in the United States and internationally. The company operates in four segments: Aerospace Systems, Electronic Systems, Communication Systems, and National Security Solutions.