In a research note issued to investors, Gautam Khanna at Cowen & Co Upgraded Harris Corporation (NYSE:HRS) to a Buy. In the year following Khanna’s ratings, the stocks covered yield an average return of 9.90% according to TipRanks.com. In the past year 9 out of 17 recommendations or 53% were successful.
On a technical level the stock has a 50 Day Moving Average of 70.087. Based on a recent trade, this puts the equity at +8.69% away from that average. In comparing the stock’s current level to its extended history, the stock is trading -3.96% away from it’s 52-week high of 79.32 and +25.34% away from the stock’s low point over the past 52 weeks, which was 60.78. On a consensus basis, analysts have a one year target price of 75.00. The company last reported earnings per share of 5.029.
The consensus analyst estimates according to First Call for the next quarter is 1.31. The current year EPS estimate on the stock is 4.93 and the EPS estimate for next year sits at 5.06. In looking at the fundamentals, HRS has a P/E ratio of 15.15 and a price to book ratio of 4.37. The company’s Book Value is 17.434 and most recently reported EBITDA of 1.063B. The price compared to next year’s EPS estimate in the current year is 15.06.
Harris Corporation (HRS), together with its subsidiaries, is an international communications and information technology (IT) company serving government and commercial markets in more than 125 countries. The Company operates in three segments: RF Communications segment, Integrated Network Solutions segment and Government Communications Systems. Its RF Communications segment consists of United States Department of Defense and international tactical communications, and public safety and professional communications. Its Integrated Network Solutions segment consists of IT services, Harris CapRock Communications and Healthcare Solutions. During the fiscal year ended June 29, 2012, the Company discontinued its cyber integrated solutions operation (CIS) and broadcast communications operations (Broadcast Communications) which were part of its Integrated Network Solutions segment. In February 2013, the Company sold Broadcast Communications business to an affiliate of The Gores Group, LLC.