S&P 500 (NYSE:SPY) component Harris Corp (NYSE:HRS) will unveil its latest earnings on Tuesday, August 2, 2011. Harris Corp. is an international communications and information technology company serving commercial markets and government.
Harris Corp Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for net income of $1.23 per share, a decline of 0.8% 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 $1.25. Between one and three months ago, the average estimate moved down, but it has been unchanged at $1.23 during the last month. For the year, analysts are projecting profit of $4.88 per share, a rise of 9.9% 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 net income of $1.16 per share versus a mean estimate of profit of $1.15 per share.
Wall St. Revenue Expectations: On average, analysts predict $1.64 billion in revenue this quarter, a rise of 12.3% from the year ago quarter. Analysts are forecasting total revenue of $5.9 billion for the year, a rise of 13.2% from last year’s revenue of $5.21 billion.
Analyst Ratings: Analysts are bullish on this stock with 13 analysts rating it as a buy, none rating it as a sell and two rating it as a hold.
Revenue has risen the past four quarters. Revenue increased 6.3% to $1.41 billion in third quarter. The figure rose 18.1% in the second quarter from the year earlier, climbed 16.8% in the first quarter from the year-ago quarter and 93.6% in the fourth quarter of the last fiscal year.
Competitors to Watch: ViaSat, Inc. (NASDAQ:VSAT), EMS Technologies, Inc. (NASDAQ:ELMG), Motorola Solutions Inc (NYSE:MSI), Comtech Telecomm. Corp. (NASDAQ:CMTL), ITT Corporation (NYSE:ITT), Globecomm Systems, Inc. (NASDAQ:GCOM), SeaChange International (NASDAQ:SEAC), Avid Technology, Inc. (NASDAQ:AVID), Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC), and Technicolor S.A. (NYSE:TCH).
Stock Price Performance: During May 2, 2011 to July 27, 2011, the stock price had fallen $10.86 (-20.8%) from $52.14 to $41.28. The stock price saw one of its best stretches over the last year between January 3, 2011 and January 12, 2011 when shares rose for eight-straight days, rising 6.4% (+$2.86) over that span. It saw one of its worst periods between April 6, 2011 and April 13, 2011 when shares fell for six-straight days, falling 3.2% (-$1.65) over that span. Shares are down $3.54 (-7.9%) year to date.
(Source: Xignite Financials)