Harris Corporation (HRS) Scheduled to Post Quarterly Earnings on Tuesday
Harris Corporation (NYSE:HRS) is scheduled to be issuing its quarterly earnings data before the market opens on Tuesday, October 31st. Analysts expect the company to announce earnings of $1.34 per share for the quarter. Harris Corporation has set its FY18 guidance at $5.85-6.05 EPS.
Harris Corporation (NYSE:HRS) last announced its earnings results on Tuesday, August 1st. The communications equipment provider reported $1.49 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.49. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Harris Corporation had a return on equity of 23.49% and a net margin of 8.53%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.45 EPS. On average, analysts expect Harris Corporation to post $5.98 EPS for the current fiscal year and $6.91 EPS for the next fiscal year.
Harris Corporation (NYSE HRS) opened at 136.82 on Tuesday. The stock has a 50 day moving average price of $131.15 and a 200-day moving average price of $117.56. The stock has a market cap of $16.39 billion, a PE ratio of 30.84 and a beta of 1.18. Harris Corporation has a one year low of $88.89 and a one year high of $137.64.
HRS has been the subject of a number of analyst reports. ValuEngine raised shares of Harris Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research raised shares of Harris Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. Credit Suisse Group initiated coverage on shares of Harris Corporation in a report on Monday, August 28th. They set an “outperform” rating and a $144.00 price objective for the company. BidaskClub raised shares of Harris Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $135.00 price objective (up from $125.00) on shares of Harris Corporation in a report on Friday, July 14th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $133.86.
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In related news, SVP Sheldon J. Fox sold 50,300 shares of Harris Corporation stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $118.24, for a total transaction of $5,947,472.00. Following the completion of the transaction, the senior vice president now directly owns 73,092 shares of the company’s stock, valued at approximately $8,642,398.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Scott T. Mikuen sold 13,600 shares of Harris Corporation stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $123.36, for a total transaction of $1,677,696.00. Following the transaction, the senior vice president now directly owns 61,349 shares of the company’s stock, valued at $7,568,012.64. The disclosure for this sale can be found here. Insiders have sold a total of 72,357 shares of company stock valued at $8,643,111 over the last ninety days. 1.91% of the stock is owned by insiders.
About Harris Corporation
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