Wall Street brokerages expect Harris Corporation (NYSE:HRS) to report sales of $1.55 billion for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Harris’ earnings, with the lowest sales estimate coming in at $1.54 billion and the highest estimate coming in at $1.56 billion. Harris posted sales of $1.49 billion during the same quarter last year, which would indicate a positive year over year growth rate of 4%. The company is scheduled to announce its next quarterly earnings results on Wednesday, May 2nd.
On average, analysts expect that Harris will report full-year sales of $1.55 billion for the current fiscal year, with estimates ranging from $6.05 billion to $6.14 billion. For the next financial year, analysts anticipate that the firm will report sales of $6.49 billion per share, with estimates ranging from $6.43 billion to $6.59 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Harris.
Harris (NYSE:HRS) last issued its quarterly earnings results on Tuesday, January 30th. The communications equipment provider reported $1.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.28. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.48 billion. Harris had a return on equity of 24.49% and a net margin of 8.63%. The business’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.38 earnings per share.
Institutional investors have recently made changes to their positions in the stock. BB&T Investment Services Inc. purchased a new position in Harris during the second quarter worth approximately $113,000. First National Bank & Trust Co. of Newtown purchased a new position in Harris during the fourth quarter worth approximately $200,000. Koshinski Asset Management Inc. purchased a new position in Harris during the fourth quarter worth approximately $203,000. HL Financial Services LLC purchased a new position in Harris during the fourth quarter worth approximately $205,000. Finally, Abner Herrman & Brock LLC purchased a new position in Harris during the fourth quarter worth approximately $209,000. Hedge funds and other institutional investors own 84.50% of the company’s stock.
Shares of Harris (HRS) opened at $155.90 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.22 and a quick ratio of 0.64. The stock has a market capitalization of $18,721.31, a P/E ratio of 26.64, a PEG ratio of 4.06 and a beta of 1.29. Harris has a 12 month low of $104.01 and a 12 month high of $160.67.
Harris Corporation is a technology company that provides products, systems and services that have defense and civil government applications, as well as commercial applications. It offers its products and services to government and commercial customer. It operates in four segments: Communication Systems, which serves markets in tactical communications and defense, and public safety networks; Space and Intelligence Systems, which provides complete Earth observation, environmental, geospatial, space protection, and intelligence solutions from advanced sensors and payloads, as well as ground processing and information analytics; Electronic Systems, which offers a portfolio of solutions in electronic warfare, avionics, wireless and technology, among others, and Critical Networks, which provides managed services supporting air traffic management, energy and maritime communications, and ground network operation and sustainment, as well as information technology (IT) and engineering services.
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