Zacks: Brokerages Anticipate L3Harris (NYSE:LHX) Will Post Earnings of $2.75 Per Share

Brokerages forecast that L3Harris (NYSE:LHX) will post earnings per share of $2.75 for the current quarter, according to Zacks. Four analysts have issued estimates for L3Harris’ earnings. The highest EPS estimate is $2.81 and the lowest is $2.65. L3Harris posted earnings per share of $1.96 during the same quarter last year, which indicates a positive year over year growth rate of 40.3%. The company is expected to report its next earnings report before the market opens on Tuesday, February 4th.

According to Zacks, analysts expect that L3Harris will report full year earnings of $9.98 per share for the current financial year, with EPS estimates ranging from $9.90 to $10.03. For the next fiscal year, analysts expect that the firm will post earnings of $11.40 per share, with EPS estimates ranging from $11.15 to $11.69. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that follow L3Harris.

L3Harris (NYSE:LHX) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.39 by $0.19. L3Harris had a return on equity of 16.42% and a net margin of 12.02%. The company had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $4.43 billion. L3Harris’s quarterly revenue was up 187.4% on a year-over-year basis.

Several brokerages have weighed in on LHX. Alembic Global Advisors began coverage on L3Harris in a report on Monday, November 18th. They issued an “overweight” rating and a $235.00 price target for the company. SunTrust Banks lifted their target price on L3Harris to $245.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Zacks Investment Research upgraded L3Harris from a “hold” rating to a “buy” rating and set a $219.00 price target for the company in a research report on Friday, November 1st. Sanford C. Bernstein began coverage on L3Harris in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $247.00 price objective for the company. Finally, ValuEngine upgraded L3Harris from a “strong sell” rating to a “sell” rating in a research report on Friday, December 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the company’s stock. L3Harris has a consensus rating of “Buy” and an average price target of $238.76.

Shares of L3Harris stock traded up $0.17 during trading on Friday, hitting $222.98. 1,154,200 shares of the stock traded hands, compared to its average volume of 1,390,438. The firm’s fifty day moving average is $205.86. L3Harris has a 52-week low of $140.88 and a 52-week high of $224.50. The company has a current ratio of 1.49, a quick ratio of 1.21 and a debt-to-equity ratio of 0.31. The stock has a market cap of $48.61 billion, a price-to-earnings ratio of 27.91, a P/E/G ratio of 2.41 and a beta of 0.86.

In other L3Harris news, SVP Scott T. Mikuen sold 16,820 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $220.00, for a total transaction of $3,700,400.00. Following the completion of the transaction, the senior vice president now owns 81,527 shares of the company’s stock, valued at $17,935,940. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.70% of the company’s stock.

A number of institutional investors have recently modified their holdings of LHX. SG Americas Securities LLC purchased a new stake in shares of L3Harris during the third quarter worth about $9,344,000. Mackay Shields LLC bought a new position in shares of L3Harris during the third quarter valued at approximately $22,024,000. Squarepoint Ops LLC bought a new position in shares of L3Harris during the third quarter valued at approximately $12,474,000. Sciencast Management LP boosted its position in shares of L3Harris by 1.0% during the fourth quarter. Sciencast Management LP now owns 7,950 shares of the company’s stock worth $1,680,000 after buying an additional 75 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of L3Harris during the third quarter worth approximately $490,000. Hedge funds and other institutional investors own 82.62% of the company’s stock.

L3Harris Company Profile

L3Harris Technologies, Inc 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.

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Earnings History and Estimates for L3Harris (NYSE:LHX)

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