Q1 2018 Earnings Forecast for Harris Corporation (NYSE:HRS) Issued By Jefferies Group
Harris Corporation (NYSE:HRS) – Jefferies Group dropped their Q1 2018 earnings estimates for shares of Harris Corporation in a report released on Tuesday. Jefferies Group analyst H. Rubel now anticipates that the communications equipment provider will post earnings of $1.34 per share for the quarter, down from their previous estimate of $1.42. Jefferies Group has a “Buy” rating and a $135.00 price objective on the stock. Jefferies Group also issued estimates for Harris Corporation’s Q2 2018 earnings at $1.43 EPS, Q3 2018 earnings at $1.57 EPS and Q4 2018 earnings at $1.71 EPS.
HRS has been the topic of several other reports. Zacks Investment Research cut Harris Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Cowen and Company reiterated a “buy” rating and issued a $125.00 price objective on shares of Harris Corporation in a research note on Thursday, July 6th. BidaskClub upgraded Harris Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. ValuEngine upgraded Harris Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Barclays PLC cut Harris Corporation from an “overweight” rating to an “equal weight” rating and set a $110.00 price objective on the stock. in a research note on Monday, May 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $113.29.
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Shares of Harris Corporation (NYSE HRS) traded down 0.19% during midday trading on Thursday, hitting $116.69. The company had a trading volume of 390,570 shares. Harris Corporation has a 12 month low of $86.87 and a 12 month high of $117.71. The company has a 50-day moving average of $112.47 and a 200-day moving average of $109.74. The company has a market capitalization of $14.04 billion, a PE ratio of 26.31 and a beta of 1.22.
Harris Corporation (NYSE:HRS) last issued its quarterly earnings results on Tuesday, August 1st. The communications equipment provider reported $1.49 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.49. Harris Corporation had a return on equity of 23.49% and a net margin of 8.53%. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the company earned $1.45 EPS. Harris Corporation’s quarterly revenue was up .6% compared to the same quarter last year.
A number of institutional investors have recently bought and sold shares of HRS. Trust Co. of Vermont raised its position in shares of Harris Corporation by 20.6% in the second quarter. Trust Co. of Vermont now owns 919 shares of the communications equipment provider’s stock valued at $100,000 after buying an additional 157 shares during the last quarter. Contravisory Investment Management Inc. raised its position in shares of Harris Corporation 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 last quarter. Ropes Wealth Advisors LLC raised its position in shares of Harris Corporation by 198.8% in the first quarter. Ropes Wealth Advisors LLC now owns 1,551 shares of the communications equipment provider’s stock valued at $173,000 after buying an additional 1,032 shares during the last quarter. Ullmann Financial Group Inc. purchased a new position in shares of Harris Corporation during the first quarter valued at about $179,000. Finally, Harbour Capital Advisors LLC raised its position in shares of Harris Corporation by 10,808.2% in the second quarter. Harbour Capital Advisors LLC now owns 21,271 shares of the communications equipment provider’s stock valued at $195,000 after buying an additional 21,076 shares during the last quarter. 85.64% of the stock is currently owned by hedge funds and other institutional investors.
In related news, SVP Robert L. Duffy sold 33,600 shares of the stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $112.01, for a total value of $3,763,536.00. Following the transaction, the senior vice president now owns 50,311 shares of the company’s stock, valued at $5,635,335.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.71% of the company’s stock.
About Harris Corporation
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