Wall Street analysts expect Harris Co. (NYSE:HRS) to report sales of $1.64 billion for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Harris’ earnings. The highest sales estimate is $1.65 billion and the lowest is $1.62 billion. Harris posted sales of $1.54 billion during the same quarter last year, which would indicate a positive year over year growth rate of 6.5%. The firm is expected to announce its next earnings report before the market opens on Tuesday, January 29th.
According to Zacks, analysts expect that Harris will report full year sales of $6.63 billion for the current year, with estimates ranging from $6.61 billion to $6.65 billion. For the next financial year, analysts forecast that the business will report sales of $7.11 billion, with estimates ranging from $7.07 billion to $7.18 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Harris.
Several research firms have weighed in on HRS. Zacks Investment Research cut Harris from a “buy” rating to a “hold” rating in a research report on Thursday, January 3rd. Barclays decreased their price objective on Harris from $181.00 to $161.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 4th. ValuEngine lowered Harris from a “buy” rating to a “hold” rating in a research note on Saturday, December 1st. Raymond James boosted their price objective on Harris from $180.00 to $190.00 and gave the company an “outperform” rating in a research note on Tuesday, October 16th. Finally, Credit Suisse Group boosted their price objective on Harris from $190.00 to $209.00 and gave the company an “outperform” rating in a research note on Monday, October 15th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $182.88.
Shares of NYSE:HRS opened at $142.78 on Friday. The company has a market cap of $16.31 billion, a P/E ratio of 21.97 and a beta of 1.17. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.96 and a current ratio of 1.17. Harris has a 12-month low of $123.24 and a 12-month high of $175.50.
Harris Company Profile
Harris Corporation provides technology-based solutions that solve government and commercial customers' mission-critical challenges in the United States and internationally. The company operates in three segments: Communication Systems, Electronic Systems, and Space and Intelligence Systems. It designs, develops, and manufactures radio communications products and systems, including single channel ground and airborne radio systems, multiband manpack and handheld radios, multi-channel manpack and airborne radios, and single-channel airborne radios, as well as wideband rifleman team, ground, and high frequency manpack radios.
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