S&P 500 (NYSE:SPY) component Harman International Industries, Inc. (NYSE:HAR) will unveil its latest earnings on Monday, August 1, 2011. Harman International Industries Inc. is a global audio equipment company. It is engaged in the design, development, manufacturing and marketing of high-quality audio products. It also offers electronic systems for vehicle applications.
Harman International Industries, Inc. Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for profit of 42 cents per share, a rise of 40% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 47 cents. Between one and three months ago, the average estimate moved down, but has risen from 39 cents during the last month. For the year, analysts are projecting net income of $2.20 per share, a rise of more than twofold from last year.
Past Earnings Performance: The company’s quarterly results have come in above estimates for the last three quarters. Last quarter, the company booked profit of 60 cents per share versus a mean estimate of net income of 46 cents per share.
Wall St. Revenue Expectations: On average, analysts predict $902.5 million in revenue this quarter, a rise of 6.1% from the year ago quarter. Analysts are forecasting total revenue of $3.64 billion for the year, a rise of 8.3% from last year’s revenue of $3.36 billion.
Analyst Ratings: Analysts seem relatively indifferent about Harman International Industries, Inc./DE with four of six analysts surveyed maintaining a hold rating.
Revenue has risen the past four quarters. Revenue increased 11.8% to $948.2 million in third quarter. The figure rose 2% in the second quarter from the year earlier, climbed 10.5% in the first quarter from the year-ago quarter and 23% in the fourth quarter of the last fiscal year.
Competitors to Watch: Panasonic Corp. (NYSE:PC), Sony Corporation (NYSE:SNE), Audiovox Corporation (NASDAQ:VOXX), Koss Corporation (NASDAQ:KOSS), Emerson Radio Corp. (AMEX:MSN), Apple Inc. (NASDAQ:AAPL), and Mad Catz Interactive, Inc. (AMEX:MCZ).
Stock Price Performance: During April 29, 2011 to July 26, 2011, the stock price had fallen $3.59 (-7.4%) from $48.50 to $44.91. The stock price saw one of its best stretches over the last year between October 7, 2010 and October 15, 2010 when shares rose for seven-straight days, rising 8.1% (+$2.69) over that span. It saw one of its worst periods between April 27, 2011 and May 6, 2011 when shares fell for eight-straight days, falling 8.6% (-$4.35) over that span. Shares are down $1.34 (-2.9%) year to date.
(Source: Xignite Financials)