Harris Corporation (NYSE:HRS) issued an update on its FY18 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $5.85-6.05 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $6.01. The company issued revenue guidance of $6.02-6.14 billion, compared to the consensus revenue estimate of $6.08 billion.
Harris Corporation (NYSE HRS) traded down 1.12% during mid-day trading on Wednesday, hitting $137.76. The stock had a trading volume of 293,494 shares. Harris Corporation has a 52-week low of $92.35 and a 52-week high of $141.97. The stock has a market cap of $16.50 billion, a P/E ratio of 31.06 and a beta of 1.18. The firm has a 50-day moving average of $133.26 and a 200-day moving average of $118.66.
Harris Corporation (NYSE:HRS) last posted its quarterly earnings data on Tuesday, October 31st. The communications equipment provider reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.03. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.44 billion. Harris Corporation had a return on equity of 23.49% and a net margin of 8.53%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 earnings per share. On average, analysts forecast that Harris Corporation will post $6.01 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 1.64%. The ex-dividend date is Thursday, November 16th. Harris Corporation’s dividend payout ratio (DPR) is presently 51.47%.
Several equities analysts recently commented on HRS shares. ValuEngine raised Harris Corporation from a hold rating to a buy rating in a report on Friday, September 1st. Zacks Investment Research raised Harris Corporation from a sell rating to a hold rating in a report on Tuesday, October 3rd. Credit Suisse Group started coverage on Harris Corporation in a report on Monday, August 28th. They issued an outperform rating and a $144.00 target price on the stock. BidaskClub raised Harris Corporation from a hold rating to a buy rating in a report on Saturday, August 5th. Finally, Jefferies Group LLC reissued a buy rating and issued a $135.00 target price (up previously from $125.00) on shares of Harris Corporation in a report on Friday, July 14th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $145.43.
In other Harris Corporation news, SVP Sheldon J. Fox sold 50,300 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $118.24, for a total value of $5,947,472.00. Following the completion of the transaction, the senior vice president now owns 73,092 shares in the company, valued at $8,642,398.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher D. Young sold 4,070 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $118.93, for a total transaction of $484,045.10. Following the completion of the transaction, the insider now owns 46,131 shares of the company’s stock, valued at approximately $5,486,359.83. The disclosure for this sale can be found here. Insiders sold 72,357 shares of company stock valued at $8,643,111 in the last 90 days. 1.91% of the stock is currently owned by insiders.
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