Harman International Industries Inc./DE/ Receives Average Recommendation of “Buy” from Brokerages (NYSE:HAR)
Shares of Harman International Industries Inc./DE/ (NYSE:HAR) have received a consensus recommendation of “Buy” from the twelve brokerages that are presently covering the company, American Banking News.com reports. One research analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $116.56.
Harman International Industries Inc./DE/ (NYSE:HAR) traded down 0.25% on Monday, hitting $115.88. The stock had a trading volume of 36,864 shares. Harman International Industries Inc./DE/ has a 52-week low of $63.61 and a 52-week high of $118.60. The stock’s 50-day moving average is $112. and its 200-day moving average is $107.8. The company has a market cap of $7.892 billion and a P/E ratio of 34.57.
Harman International Industries Inc./DE/ (NYSE:HAR) last posted its quarterly earnings results on Thursday, August 7th. The company reported $1.25 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.91 earnings per share. The company’s quarterly revenue was up 22.2% on a year-over-year basis. Analysts expect that Harman International Industries Inc./DE/ will post $5.26 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Thursday, August 14th. This is a positive change from Harman International Industries Inc./DE/’s previous quarterly dividend of $0.30.
HAR has been the subject of a number of recent research reports. Analysts at Morgan Stanley raised their price target on shares of Harman International Industries Inc./DE/ from $45.00 to $47.00 in a research note on Monday, August 11th. Separately, 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. Finally, 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.
Harman International Industries, Incorporated (NYSE:HAR) is engaged in the developing, manufacturing and marketing of audio products and electronic systems.
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