L3Harris (LHX) closed at $177.17 in the latest trading session, marking a -1.64% move from the prior day. This move was narrower than the S&P 500's daily loss of 4.41%. Meanwhile, the Dow lost 4.44%, and the Nasdaq, a tech-heavy index, lost 4.41%.
Prior to today's trading, shares of the technology and communications company had lost 9.34% over the past month. This has was narrower than the Aerospace sector's loss of 25.76% and the S&P 500's loss of 12.16% in that time.
LHX will be looking to display strength as it nears its next earnings release. On that day, LHX is projected to report earnings of $2.64 per share, which would represent year-over-year growth of 25.12%. Our most recent consensus estimate is calling for quarterly revenue of $4.60 billion, up 166.12% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $11.59 per share and revenue of $19.22 billion, which would represent changes of +14.98% and +102.18%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for LHX. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.04% lower within the past month. LHX is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, LHX is holding a Forward P/E ratio of 15.53. This represents a premium compared to its industry's average Forward P/E of 13.6.
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 89, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
L3Harris Technologies Inc (LHX) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research