Harris Corporation (HRS) Beats on Earnings & Revenues in Q3
Harris Corporation HRS, based in Melbourne, FL, leading supplier of communications equipment and services. The company has brought about a transformation pertaining to communications and information technology.
The company has a healthy track record with respect to earnings. The company has delivered positive earnings surprises in each of the last four quarters, with an average beat of 2.72%.
Zacks Rank: Currently, Harris Corporation has a Zacks Rank # 3 (Hold) but that could change following the company’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Harris Corporation’s adjusted earnings of $1.38 per share in the third quarter of fiscal 2017 (ended Mar 31, 2017) beating the Zacks Consensus Estimate of $1.31 per share.
Revenue: Revenues in the third quarter came in at $1,489.0 million beating the Zacks Consensus Estimate of $1,467.2 million. Revenues declined 22% from the year-ago figure.
Harris Corporation Price and EPS Surprise
Harris Corporation Price and EPS Surprise | Harris Corporation Quote
Key Stats: The company expects earnings per share (on an adjusted basis) in fiscal 2017 in the band of $5.50 to $5.55 narrower than its previous guidance of $5.40 to $5.60. The Zacks Consensus Estimate for fiscal 2017 currently stands at $5.54 per share, within the guidance range. The company expects fiscal 2017 revenues to be down 1% year-over-year vis-à-vis the previous guidance of flat to down 2%. The Zacks Consensus Estimate currently stands at $5.83 billion for fiscal 2017.
Check back later for our full write up on this Harris Corporation earnings report later!
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