Q3 2017 EPS Estimates for Harris Co. Cut by Seaport Global Securities (HRS)
Harris Co. (NYSE:HRS) – Analysts at Seaport Global Securities lowered their Q3 2017 earnings per share (EPS) estimates for shares of Harris in a note issued to investors on Monday. Seaport Global Securities analyst J. Sullivan now expects that the communications equipment provider will post earnings of $1.35 per share for the quarter, down from their prior estimate of $1.44. Seaport Global Securities also issued estimates for Harris’ Q1 2018 earnings at $1.37 EPS, Q2 2018 earnings at $1.45 EPS, Q3 2018 earnings at $1.67 EPS, Q4 2018 earnings at $1.65 EPS and FY2018 earnings at $6.15 EPS.
Harris (NYSE:HRS) last posted its quarterly earnings data on Thursday, February 2nd. The communications equipment provider reported $1.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.05. The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.77 billion. Harris had a return on equity of 22.73% and a net margin of 9.15%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.49 EPS. COPYRIGHT VIOLATION WARNING: “Q3 2017 EPS Estimates for Harris Co. Cut by Seaport Global Securities (HRS)” was originally reported by Daily Political and is owned by of Daily Political. If you are accessing this story on another domain, it was copied illegally and republished in violation of international trademark and copyright legislation. The legal version of this story can be viewed at https://www.dailypolitical.com/2017/04/18/q3-2017-eps-estimates-for-harris-co-cut-by-seaport-global-securities-hrs.html.
A number of other brokerages have also recently commented on HRS. Jefferies Group LLC set a $120.00 target price on Harris and gave the company a “buy” rating in a report on Thursday, March 16th. Zacks Investment Research cut Harris from a “hold” rating to a “sell” rating in a report on Tuesday, March 14th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $106.14.
Harris (NYSE:HRS) traded down 0.58% during midday trading on Tuesday, hitting $109.57. The company had a trading volume of 549,709 shares. The firm has a market cap of $13.64 billion, a price-to-earnings ratio of 20.74 and a beta of 1.27. The stock has a 50 day moving average of $110.67 and a 200 day moving average of $103.32. Harris has a 52-week low of $73.32 and a 52-week high of $113.00.
Several large investors have recently bought and sold shares of HRS. Contravisory Investment Management Inc. boosted its stake in Harris by 303.3% in the first quarter. Contravisory Investment Management Inc. now owns 1,222 shares of the communications equipment provider’s stock valued at $136,000 after buying an additional 919 shares during the period. Meeder Asset Management Inc. boosted its stake in Harris by 157.4% in the third quarter. Meeder Asset Management Inc. now owns 1,552 shares of the communications equipment provider’s stock valued at $142,000 after buying an additional 949 shares during the period. Seven Eight Capital LP acquired a new stake in Harris during the fourth quarter valued at about $160,000. CENTRAL TRUST Co boosted its stake in Harris by 30.8% in the third quarter. CENTRAL TRUST Co now owns 1,619 shares of the communications equipment provider’s stock valued at $149,000 after buying an additional 381 shares during the period. Finally, Fulton Bank N.A. acquired a new stake in Harris during the first quarter valued at about $202,000. Institutional investors and hedge funds own 83.24% of the company’s stock.
In other Harris news, Director James F. Albaugh acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, February 9th. The shares were acquired at an average price of $104.99 per share, for a total transaction of $104,990.00. Following the completion of the acquisition, the director now directly owns 825 shares of the company’s stock, valued at $86,616.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Dana A. Mehnert sold 99,400 shares of the firm’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $104.64, for a total value of $10,401,216.00. Following the sale, the senior vice president now owns 116,490 shares in the company, valued at approximately $12,189,513.60. The disclosure for this sale can be found here. Insiders have sold 141,050 shares of company stock worth $14,882,228 in the last 90 days. Insiders own 1.71% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 24th. Stockholders of record on Tuesday, March 14th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend was Friday, March 10th. Harris’s dividend payout ratio (DPR) is 40.08%.
Harris Company Profile
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