Harris Rating Lowered to Neutral at Lazard Capital (HRS)

By admin | 6 years ago

Harris (NYSE: HRS) was downgraded by investment analysts at Lazard Capital from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday.

Shares of Harris traded down 1.69% during mid-day trading on Wednesday, hitting $41.99. Harris has a one year low of $32.68 and a one year high of $49.75. The company has a market cap of $4.781 billion and a P/E ratio of 9.89.

The company last announced its quarterly results on Tuesday, May 1st. It reported $1.39 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $1.34 EPS by $0.05. The company’s quarterly revenue was up 4.5% on a year-over-year basis. On average, analysts predict that Harris will post $1.17 earnings per share next quarter.

Other equities research analysts have also recently issued reports about the stock. Analysts at Needham & Company downgraded shares of Harris from a “buy” rating to a “hold” rating in a research note to investors on Tuesday. They now have a $46.00 price target on the stock. Separately, analysts at Raymond James (NYSE: RJF) downgraded shares of Harris from an “outperform” rating to a “market perform” rating in a research note to investors on Tuesday. Finally, analysts at Drexel Hamilton initiated coverage on shares of Harris in a research note to investors on Wednesday, April 25th. They set a “hold” rating on the stock.

Harris Corporation (Harris), together with its subsidiaries, is an international communications and information technology company serving government and commercial markets in more than 150 countries.

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