L3Harris (NYSE:LHX) released its quarterly earnings results on Friday. The company reported $2.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.61 by $0.22, MarketWatch Earnings reports. The business had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.48 billion. L3Harris had a net margin of 8.30% and a return on equity of 13.20%. The business’s revenue was up 138.3% on a year-over-year basis. During the same period last year, the business earned $2.51 EPS. L3Harris updated its FY 2020
Pre-Market guidance to 11.15-11.55 EPS and its FY20 guidance to $11.15-11.55 EPS.
Shares of NYSE:LHX opened at $168.33 on Friday. The company has a market cap of $36.34 billion, a PE ratio of 24.54 and a beta of 0.74. The company’s 50-day moving average price is $174.02 and its 200 day moving average price is $191.96. L3Harris has a fifty-two week low of $142.01 and a fifty-two week high of $230.99. The company has a quick ratio of 1.21, a current ratio of 1.41 and a debt-to-equity ratio of 0.32.
LHX has been the subject of several recent analyst reports. Benchmark reissued a “buy” rating and set a $260.00 price objective (down from $280.00) on shares of L3Harris in a report on Wednesday, May 13th. They noted that the move was a valuation call. Sanford C. Bernstein raised their price objective on shares of L3Harris from $217.00 to $236.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. SunTrust Banks decreased their price objective on shares of L3Harris from $265.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, April 16th. Bank of America initiated coverage on shares of L3Harris in a report on Thursday, April 16th. They set a “buy” rating and a $250.00 price objective for the company. Finally, Royal Bank of Canada assumed coverage on shares of L3Harris in a report on Wednesday, May 20th. They set an “outperform” rating and a $219.00 price objective for the company. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $240.32.
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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