Wall Street analysts expect L3Harris (LHX) to post quarterly earnings of $2.56 per share in its upcoming report, which indicates a year-over-year decline of 23.4%. Revenues are expected to be $5.53 billion, up 4.6% from the year-ago quarter.
The current level reflects an upward revision of 0.5% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
In light of this perspective, let's dive into the average estimates of certain L3Harris metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts expect 'Revenue- Space and Airborne Systems' to come in at $1.82 billion. The estimate indicates a change of +8.3% from the prior-year quarter.
The combined assessment of analysts suggests that 'Revenue- Aerojet Rocketdyne' will likely reach $727.54 million. The estimate suggests a change of +22.1% year over year.
Analysts' assessment points toward 'Revenue- Integrated Mission Systems' reaching $1.57 billion. The estimate indicates a year-over-year change of -5.8%.
The consensus estimate for 'Revenue- Communication Systems' stands at $1.45 billion. The estimate suggests a change of +4.6% year over year.
Based on the collective assessment of analysts, 'Segment operating income- Aerojet Rocketdyne' should arrive at $92.20 million. Compared to the present estimate, the company reported $75.00 million in the same quarter last year.
Analysts forecast 'Segment operating income- Communication Systems (CS)' to reach $362.02 million. The estimate is in contrast to the year-ago figure of $359.00 million.
The consensus among analysts is that 'Segment operating income- Space and Airborne Systems (SAS)' will reach $226.95 million. Compared to the present estimate, the company reported $195.00 million in the same quarter last year.
It is projected by analysts that the 'Segment operating income- Integrated Mission System (IMS)' will reach $180.83 million. The estimate compares to the year-ago value of $204.00 million.
View all Key Company Metrics for L3Harris here>>>
L3Harris shares have witnessed a change of -2% in the past month, in contrast to the Zacks S&P 500 composite's +3.6% move. With a Zacks Rank #2 (Buy), LHX is expected outperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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L3Harris Technologies Inc (LHX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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