Harman International Industries Inc./DE/ Price Target Increased to $47.00 by Analysts at Morgan Stanley (HAR)
Analysts at Morgan Stanley hoisted their price target on shares of Harman International Industries Inc./DE/ (NYSE:HAR) from $45.00 to $47.00 in a research report issued to clients and investors on Monday. Morgan Stanley’s price target would indicate a potential downside of 56.42% from the stock’s previous close.
A number of other firms have also recently commented on HAR. Analysts at Robert W. Baird raised their price target on shares of Harman International Industries Inc./DE/ from $123.00 to $125.00 in a research note on Wednesday, August 6th. Analysts at Tigress Financial initiated coverage on shares of Harman International Industries Inc./DE/ in a research note on Monday, July 14th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $116.56.
Harman International Industries Inc./DE/ (NYSE:HAR) traded up 3.26% during mid-day trading on Monday, hitting $111.36. The stock had a trading volume of 352,717 shares. Harman International Industries Inc./DE/ has a one year low of $63.61 and a one year high of $118.60. The stock has a 50-day moving average of $110.9 and a 200-day moving average of $106.3. The company has a market cap of $7.584 billion and a P/E ratio of 32.10.
Harman International Industries Inc./DE/ (NYSE:HAR) last announced its earnings results on Thursday, August 7th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.04. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the previous year, the company posted $0.91 earnings per share. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. On average, analysts predict that Harman International Industries Inc./DE/ will post $5.25 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Thursday, August 14th. This is a positive change from Harman International Industries Inc./DE/’s previous quarterly dividend of $0.30.
Harman International Industries, Incorporated (NYSE:HAR) is engaged in the developing, manufacturing and marketing of audio products and electronic systems.
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