Zacks: Analysts Expect L3Harris (NYSE:LHX) Will Announce Quarterly Sales of $4.81 Billion

Wall Street brokerages forecast that L3Harris (NYSE:LHX) will announce sales of $4.81 billion for the current quarter, according to Zacks. Four analysts have provided estimates for L3Harris’ earnings. The lowest sales estimate is $4.80 billion and the highest is $4.83 billion. L3Harris reported sales of $1.67 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 188%. The company is scheduled to report its next quarterly earnings report before the market opens on Tuesday, February 4th.

On average, analysts expect that L3Harris will report full year sales of $18.07 billion for the current financial year, with estimates ranging from $18.06 billion to $18.08 billion. For the next fiscal year, analysts anticipate that the company will report sales of $19.23 billion, with estimates ranging from $19.11 billion to $19.36 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for L3Harris.

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

A number of equities research analysts have issued reports on the company. Zacks Investment Research raised 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. Alembic Global Advisors assumed coverage on L3Harris in a research report on Monday, November 18th. They set an “overweight” rating and a $235.00 price target for the company. ValuEngine raised L3Harris from a “strong sell” rating to a “sell” rating in a research report on Friday, December 13th. UBS Group boosted their price target on L3Harris from $225.00 to $235.00 and gave the company a “neutral” rating in a research report on Wednesday, January 15th. Finally, Cowen reissued a “buy” rating and set a $210.00 price target on shares of L3Harris in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $237.34.

In other L3Harris news, SVP Scott T. Mikuen sold 15,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $210.51, for a total transaction of $3,157,650.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.70% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the business. Squar Milner Financial Services LLC lifted its stake in shares of L3Harris by 500.0% in the third quarter. Squar Milner Financial Services LLC now owns 120 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares in the last quarter. Sonora Investment Management LLC acquired a new position in shares of L3Harris in the third quarter worth about $26,000. Wealthcare Capital Management LLC acquired a new position in shares of L3Harris in the third quarter worth about $26,000. Corbenic Partners LLC acquired a new position in shares of L3Harris in the fourth quarter worth about $26,000. Finally, D Orazio & Associates Inc. acquired a new position in shares of L3Harris in the third quarter worth about $27,000. Institutional investors own 82.62% of the company’s stock.

LHX stock traded down $0.55 during trading on Friday, reaching $219.91. 1,411,389 shares of the stock traded hands, compared to its average volume of 1,420,099. The firm’s 50 day simple moving average is $204.24. L3Harris has a 52-week low of $139.42 and a 52-week high of $223.00. The company has a quick ratio of 1.21, a current ratio of 1.49 and a debt-to-equity ratio of 0.31. The firm has a market cap of $48.50 billion, a price-to-earnings ratio of 27.52, a PEG ratio of 2.41 and a beta of 0.86.

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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