Q1 2019 EPS Estimates for Harris Corporation Boosted by Analyst (HRS)
Harris Corporation (NYSE:HRS) – Equities researchers at Seaport Global Securities boosted their Q1 2019 EPS estimates for shares of Harris Corporation in a research report issued on Friday. Seaport Global Securities analyst J. Sullivan now anticipates that the communications equipment provider will earn $1.48 per share for the quarter, up from their prior forecast of $1.44. Seaport Global Securities also issued estimates for Harris Corporation’s Q2 2019 earnings at $1.61 EPS, Q3 2019 earnings at $1.92 EPS and FY2019 earnings at $7.00 EPS.
Harris Corporation (NYSE:HRS) last announced its quarterly earnings data on Tuesday, August 1st. The communications equipment provider reported $1.49 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.49. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.52 billion. Harris Corporation had a return on equity of 23.49% and a net margin of 8.53%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the company earned $1.45 EPS. COPYRIGHT VIOLATION WARNING: This report was originally published by Daily Political and is the property of of Daily Political. If you are accessing this report on another website, it was copied illegally and republished in violation of U.S. and international copyright and trademark law. The original version of this report can be accessed at https://www.dailypolitical.com/2017/09/20/q1-2019-eps-estimates-for-harris-corporation-boosted-by-analyst-hrs.html.
Several other research analysts also recently issued reports on HRS. Zacks Investment Research upgraded shares of Harris Corporation from a “sell” rating to a “hold” rating in a report on Tuesday. BidaskClub raised shares of Harris Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Cowen and Company reissued a “buy” rating and issued a $134.00 price objective (up previously from $125.00) on shares of Harris Corporation in a research note on Tuesday, September 12th. ValuEngine raised shares of Harris Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $125.00 price objective on shares of Harris Corporation in a research note on Friday, July 7th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Harris Corporation currently has an average rating of “Buy” and an average target price of $121.57.
Harris Corporation (NYSE HRS) traded up 0.25% on Monday, hitting $131.24. The stock had a trading volume of 179,930 shares. The company has a 50 day moving average of $120.91 and a 200 day moving average of $113.51. The company has a market capitalization of $15.72 billion, a PE ratio of 29.59 and a beta of 1.19. Harris Corporation has a 12-month low of $88.89 and a 12-month high of $131.63.
A number of institutional investors and hedge funds have recently modified their holdings of HRS. BlackRock Inc. boosted its position in Harris Corporation by 3,267.9% during the first quarter. BlackRock Inc. now owns 7,670,217 shares of the communications equipment provider’s stock valued at $853,463,000 after acquiring an additional 7,442,472 shares during the last quarter. Capital Research Global Investors bought a new stake in Harris Corporation during the second quarter valued at $304,508,000. Janus Henderson Group PLC boosted its position in Harris Corporation by 12,337.7% during the second quarter. Janus Henderson Group PLC now owns 2,459,438 shares of the communications equipment provider’s stock valued at $268,276,000 after acquiring an additional 2,439,664 shares during the last quarter. Janus Capital Management LLC boosted its position in Harris Corporation by 253.7% during the first quarter. Janus Capital Management LLC now owns 2,165,991 shares of the communications equipment provider’s stock valued at $241,010,000 after acquiring an additional 1,553,628 shares during the last quarter. Finally, Private Advisor Group LLC boosted its position in Harris Corporation by 20,790.1% during the first quarter. Private Advisor Group LLC now owns 764,788 shares of the communications equipment provider’s stock valued at $9,623,000 after acquiring an additional 761,127 shares during the last quarter. 84.99% of the stock is currently owned by institutional investors and hedge funds.
In other Harris Corporation news, insider Christopher D. Young sold 4,070 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $118.93, for a total transaction of $484,045.10. Following the sale, the insider now owns 46,131 shares of the company’s stock, valued at $5,486,359.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Scott T. Mikuen sold 13,600 shares of the company’s stock in a transaction on 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 sale, the senior vice president now directly owns 61,349 shares in the company, valued at approximately $7,568,012.64. The disclosure for this sale can be found here. Insiders have sold 72,357 shares of company stock worth $8,643,111 in the last ninety days. Insiders own 1.91% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be given a dividend of $0.57 per share. The ex-dividend date is Thursday, September 7th. This represents a $2.28 dividend on an annualized basis and a yield of 1.74%. This is a boost from Harris Corporation’s previous quarterly dividend of $0.53. Harris Corporation’s dividend payout ratio is 51.47%.
About Harris Corporation
Receive News & Ratings for Harris Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harris Corporation and related companies with MarketBeat.com's FREE daily email newsletter.