Harris Corp. Upgraded by Oppenheimer to “Market Perform” (HRS)
Harris Corp. (NYSE:HRS) was upgraded by equities research analysts at Oppenheimer from an “underperform” rating to a “market perform” rating in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports.
Shares of Harris Corp. (NYSE:HRS) traded down 0.15% during mid-day trading on Wednesday, hitting $73.37. 727,043 shares of the company’s stock traded hands. Harris Corp. has a one year low of $46.18 and a one year high of $75.33. The stock has a 50-day moving average of $72.49 and a 200-day moving average of $68.67. The company has a market cap of $7.836 billion and a P/E ratio of 19.59.
Harris Corp. (NYSE:HRS) last announced its earnings results on Tuesday, April 29th. The company reported $1.27 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.19 by $0.08. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the company posted $1.12 earnings per share. Harris Corp.’s revenue was up 5.3% compared to the same quarter last year. On average, analysts predict that Harris Corp. will post $5.00 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Wednesday, May 28th.
Separately, analysts at Barclays downgraded shares of Harris Corp. from an “equal weight” rating to an “underweight” rating in a research note on Monday, March 17th. They now have a $73.00 price target on the stock, up previously from $70.00. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Harris Corp. currently has an average rating of “Hold” and a consensus target price of $68.00.
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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