Brokerages Anticipate L3Harris (NYSE:LHX) Will Post Earnings of $2.62 Per Share

Brokerages predict that L3Harris (NYSE:LHX) will announce earnings per share (EPS) of $2.62 for the current quarter, Zacks reports. Six analysts have made estimates for L3Harris’ earnings, with estimates ranging from $2.53 to $2.68. L3Harris reported earnings per share of $2.44 in the same quarter last year, which suggests a positive year-over-year growth rate of 7.4%. The firm is expected to announce its next earnings report on Wednesday, July 29th.

According to Zacks, analysts expect that L3Harris will report full year earnings of $11.31 per share for the current fiscal year, with EPS estimates ranging from $11.15 to $11.43. For the next year, analysts anticipate that the business will post earnings of $12.68 per share, with EPS estimates ranging from $12.16 to $12.91. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover L3Harris.

L3Harris (NYSE:LHX) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $2.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.61 by $0.19. L3Harris had a return on equity of 13.20% and a net margin of 8.30%. The firm had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.60 billion. During the same quarter in the previous year, the business earned $2.32 earnings per share. The company’s revenue was up 167.7% on a year-over-year basis.

A number of analysts recently commented on LHX shares. Seaport Global Securities started coverage on L3Harris in a research report on Tuesday, May 19th. They set a “buy” rating and a $225.00 price objective for the company. Zacks Investment Research cut L3Harris from a “buy” rating to a “hold” rating and set a $184.00 price objective for the company. in a research report on Thursday, March 26th. Royal Bank of Canada started coverage on L3Harris in a research report on Wednesday, May 20th. They set an “outperform” rating and a $219.00 price objective for the company. Benchmark reiterated a “buy” rating and set a $260.00 price objective (down previously from $280.00) on shares of L3Harris in a research report on Wednesday, May 13th. They noted that the move was a valuation call. Finally, SunTrust Banks reduced their price objective on L3Harris from $265.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, April 16th. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. L3Harris currently has an average rating of “Buy” and an average target price of $239.40.

Shares of LHX stock traded down $3.06 during mid-day trading on Thursday, hitting $171.74. The company’s stock had a trading volume of 21,304 shares, compared to its average volume of 2,090,207. L3Harris has a 52-week low of $142.01 and a 52-week high of $230.99. The business has a 50-day moving average price of $187.17 and a 200 day moving average price of $197.41. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.21 and a current ratio of 1.41. The stock has a market cap of $37.73 billion, a price-to-earnings ratio of 25.21 and a beta of 0.77.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 2nd were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend was Monday, June 1st. L3Harris’s dividend payout ratio (DPR) is 33.73%.

In other news, Director Lewis Kramer sold 6,000 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $195.00, for a total value of $1,170,000.00. Following the completion of the transaction, the director now owns 13,278 shares of the company’s stock, valued at $2,589,210. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Roger Fradin acquired 161 shares of the company’s stock in a transaction dated Thursday, April 23rd. The stock was acquired at an average cost of $191.45 per share, with a total value of $30,823.45. Following the purchase, the director now owns 725 shares of the company’s stock, valued at $138,801.25. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LHX. Virtus ETF Advisers LLC purchased a new stake in shares of L3Harris in the fourth quarter worth about $25,000. Filbrandt Wealth Management LLC purchased a new position in shares of L3Harris during the 4th quarter valued at about $25,000. NuWave Investment Management LLC purchased a new position in shares of L3Harris during the 1st quarter valued at about $30,000. Sowell Financial Services LLC raised its stake in shares of L3Harris by 161.2% during the 1st quarter. Sowell Financial Services LLC now owns 175 shares of the company’s stock valued at $32,000 after buying an additional 108 shares during the last quarter. Finally, Americana Partners LLC purchased a new position in shares of L3Harris during the 4th quarter valued at about $37,000. 84.85% of the stock is owned by hedge funds and other institutional investors.

About L3Harris

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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