Q2 2017 EPS Estimates for Harman International Industries Inc. Lifted by Northcoast Research (HAR)
Harman International Industries Inc. (NYSE:HAR) – Analysts at Northcoast Research upped their Q2 2017 earnings estimates for shares of Harman International Industries in a research note issued on Monday. Northcoast Research analyst B. Keller now forecasts that the firm will post earnings of $1.90 per share for the quarter, up from their previous forecast of $1.89. Northcoast Research also issued estimates for Harman International Industries’ Q3 2017 earnings at $1.64 EPS, Q4 2017 earnings at $1.80 EPS, FY2017 earnings at $7.19 EPS and FY2018 earnings at $7.56 EPS.
Other research analysts have also recently issued research reports about the stock. Piper Jaffray Cos. set a $88.00 price target on shares of Harman International Industries and gave the stock a “hold” rating in a research note on Saturday, August 6th. Zacks Investment Research upgraded shares of Harman International Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, August 9th. Pacific Crest reiterated a “hold” rating on shares of Harman International Industries in a research note on Friday, August 5th. Barclays PLC lifted their price target on shares of Harman International Industries from $103.00 to $104.00 and gave the stock an “overweight” rating in a research note on Friday, August 5th. Finally, FBR & Co lifted their price target on shares of Harman International Industries from $85.00 to $90.00 and gave the stock a “mkt perform” rating in a research note on Friday, August 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Harman International Industries currently has a consensus rating of “Buy” and an average price target of $98.38.
Harman International Industries (NYSE:HAR) traded up 2.58% on Wednesday, hitting $87.32. 65,119 shares of the stock traded hands. Harman International Industries has a 52-week low of $64.93 and a 52-week high of $106.38. The company’s 50 day moving average price is $81.74 and its 200-day moving average price is $79.83. The stock has a market cap of $6.09 billion, a price-to-earnings ratio of 17.50 and a beta of 1.53.
Harman International Industries (NYSE:HAR) last released its quarterly earnings results on Thursday, November 3rd. The company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.34. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Harman International Industries had a net margin of 5.37% and a return on equity of 19.36%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.48 earnings per share.
Hedge funds have recently bought and sold shares of the company. Kistler Tiffany Companies LLC increased its stake in Harman International Industries by 8.8% in the third quarter. Kistler Tiffany Companies LLC now owns 1,382 shares of the company’s stock worth $117,000 after buying an additional 112 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Harman International Industries during the second quarter valued at approximately $115,000. Acadian Asset Management LLC purchased a new position in shares of Harman International Industries during the third quarter valued at approximately $140,000. Tower Research Capital LLC TRC increased its position in shares of Harman International Industries by 15,627.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,730 shares of the company’s stock valued at $124,000 after buying an additional 1,719 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of Harman International Industries by 9.4% in the third quarter. Daiwa Securities Group Inc. now owns 1,750 shares of the company’s stock valued at $148,000 after buying an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.
In other news, EVP Michael Mauser sold 11,260 shares of the business’s stock in a transaction dated Saturday, September 10th. The shares were sold at an average price of $80.93, for a total value of $911,271.80. Following the sale, the executive vice president now directly owns 12,801 shares in the company, valued at approximately $1,035,984.93. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Herbert K. Parker sold 8,744 shares of the business’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $79.48, for a total transaction of $694,973.12. Following the completion of the sale, the executive vice president now owns 21,321 shares in the company, valued at $1,694,593.08. The disclosure for this sale can be found here. 0.94% of the stock is currently owned by insiders.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Monday, November 14th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, November 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.64%. Harman International Industries’s dividend payout ratio (DPR) is presently 26.77%.
Harman International Industries Company Profile
Harman International Industries, Incorporated is engaged in the designing and engineering of connected products and solutions for automakers, consumers and enterprises, including connected car systems, audio and visual products, enterprise automation solutions and connected services. The Company’s segments include Connected Car, Lifestyle Audio, Professional Solutions, Connected Services and Other.
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