Brokerages Anticipate L3Harris Technologies, Inc. (NYSE:LHX) Will Announce Earnings of $3.17 Per Share

Analysts expect L3Harris Technologies, Inc. (NYSE:LHXGet Rating) to post $3.17 earnings per share for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for L3Harris Technologies’ earnings, with the highest EPS estimate coming in at $3.35 and the lowest estimate coming in at $3.02. L3Harris Technologies posted earnings of $3.26 per share during the same quarter last year, which suggests a negative year over year growth rate of 2.8%. The business is scheduled to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that L3Harris Technologies will report full year earnings of $13.61 per share for the current year, with EPS estimates ranging from $13.49 to $13.80. For the next fiscal year, analysts expect that the business will post earnings of $14.82 per share, with EPS estimates ranging from $14.35 to $15.33. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover L3Harris Technologies.

L3Harris Technologies (NYSE:LHXGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The company reported $3.12 EPS for the quarter, topping analysts’ consensus estimates of $3.06 by $0.06. L3Harris Technologies had a return on equity of 13.18% and a net margin of 10.68%. The firm had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.13 billion. During the same period last year, the company posted $3.18 EPS. The business’s quarterly revenue was down 10.2% compared to the same quarter last year.

LHX has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price target on L3Harris Technologies from $240.00 to $291.00 and gave the stock an “overweight” rating in a research report on Monday, March 7th. Susquehanna Bancshares lowered their price objective on L3Harris Technologies from $302.00 to $298.00 in a research report on Monday, May 2nd. StockNews.com cut L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Friday, April 29th. Jefferies Financial Group decreased their price target on L3Harris Technologies from $320.00 to $300.00 in a research note on Monday, May 2nd. Finally, TheStreet raised L3Harris Technologies from a “c” rating to a “b-” rating in a research note on Monday, January 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $265.09.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wedbush Securities Inc. increased its holdings in L3Harris Technologies by 1.1% in the first quarter. Wedbush Securities Inc. now owns 3,876 shares of the company’s stock valued at $963,000 after purchasing an additional 41 shares during the last quarter. Boenning & Scattergood Inc. increased its holdings in shares of L3Harris Technologies by 0.9% in the first quarter. Boenning & Scattergood Inc. now owns 4,552 shares of the company’s stock worth $1,131,000 after acquiring an additional 42 shares in the last quarter. YHB Investment Advisors Inc. increased its holdings in shares of L3Harris Technologies by 0.4% in the first quarter. YHB Investment Advisors Inc. now owns 9,916 shares of the company’s stock worth $2,464,000 after acquiring an additional 42 shares in the last quarter. AdvisorNet Financial Inc increased its holdings in shares of L3Harris Technologies by 6.8% in the first quarter. AdvisorNet Financial Inc now owns 671 shares of the company’s stock worth $167,000 after acquiring an additional 43 shares in the last quarter. Finally, Boston Financial Mangement LLC increased its holdings in shares of L3Harris Technologies by 3.8% in the first quarter. Boston Financial Mangement LLC now owns 1,165 shares of the company’s stock worth $289,000 after acquiring an additional 43 shares in the last quarter. Institutional investors and hedge funds own 80.15% of the company’s stock.

Shares of L3Harris Technologies stock opened at $233.83 on Friday. The stock has a 50-day simple moving average of $246.91 and a 200-day simple moving average of $231.12. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 1.09. L3Harris Technologies has a 52-week low of $200.71 and a 52-week high of $279.71. The firm has a market cap of $45.10 billion, a price-to-earnings ratio of 25.14, a P/E/G ratio of 3.90 and a beta of 0.76.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 17th. Stockholders of record on Friday, June 3rd will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Thursday, June 2nd. L3Harris Technologies’s dividend payout ratio (DPR) is presently 48.17%.

L3Harris Technologies Company Profile (Get Rating)

L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions.

Further Reading

Get a free copy of the Zacks research report on L3Harris Technologies (LHX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for L3Harris Technologies (NYSE:LHX)

Receive News & Ratings for L3Harris Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L3Harris Technologies and related companies with MarketBeat.com's FREE daily email newsletter.