Harris Corp. Price Target Raised to $60.00 at Barclays (HRS)
Equities researchers at Barclays lifted their price target on shares of Harris Corp. (NYSE:HRS) from $53.00 to $60.00 in a research report issued on Wednesday, American Banking and Market News reports. The firm currently has an “equal weight” rating on the stock. Barclays’ price objective would suggest a potential downside of 2.79% from the company’s current price.
A number of other firms have also recently commented on HRS. Analysts at Raymond James upgraded shares of Harris Corp. from a “market perform” rating to an “outperform” rating in a research note to investors on Wednesday, September 25th. They now have a $65.00 price target on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Harris Corp. in a research note to investors on Wednesday, September 18th. They now have a $62.00 price target on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $57.40.
Harris Corp. (NYSE:HRS) traded down 0.39% on Wednesday, hitting $61.72. The stock had a trading volume of 483,535 shares. Harris Corp. has a 1-year low of $41.08 and a 1-year high of $62.81. The stock’s 50-day moving average is $59.37 and its 200-day moving average is $53.42. The company has a market cap of $6.600 billion and a price-to-earnings ratio of 63.10.
Harris Corp. (NYSE:HRS) last announced its earnings results on Tuesday, October 29th. The company reported $1.18 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.13 by $0.05. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the company posted $1.14 earnings per share. The company’s quarterly revenue was down 5.5% on a year-over-year basis. Analysts expect that Harris Corp. will post $4.81 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, December 6th. Investors of record on Thursday, November 21st will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Tuesday, November 19th.
Harris Corporation (NYSE:HRS), together with its subsidiaries, is an international communications and information technology (IT) company serving government and commercial markets in more than 125 countries.
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