Harris Corporation (HRS) Releases Earnings Results, Beats Expectations By $0.02 EPS

Harris Corporation (HRS) reported quarterly earnings results on Tuesday, Aug-2-2016. The company said it had a profit of $1.45 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $1.43. The company posted revenue of $1904.00 million in the period, compared to analysts expectations of $1936.65 million. The company’s revenue was up 24.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.32 EPS.

Many Wall Street Analysts have commented on Harris Corporation. Citigroup Initiated Harris Corporation on Jun 10, 2016 to “Buy”, Price Target of the shares are set at $95.

Harris Corporation opened for trading at $86.42 and hit $86.77 on the upside on Friday, eventually ending the session at $86.62, with a gain of 0.10% or 0.09 points. The heightened volatility saw the trading volume jump to 4,52,871 shares. Company has a market cap of $10,804 M.

In a different news, on Jun 13, 2016, Dana A Mehnert (SVP, Chief Global Bus Dev Off) sold 100 shares at $82.00 per share price. According to the SEC, on Nov 17, 2015, Scott T Mikuen (Sr VP-General Counsel & Secy) sold 8,800 shares at $80.00 per share price. On Sep 1, 2015, William M Brown (Chairman, President, and CEO) sold 195 shares at $81.25 per share price, according to the Form-4 filing with the securities and exchange commission.

Harris Corporation (Harris) together with its subsidiaries is engaged in providing technology-based solutions to government and commercial customers. As of July 3 2015 the Company operated through four business segments: RF Communications Government Communications Systems Integrated Network Solutions and Exelis. The RF Communications segment is engaged in serving the United States Department of Defense (DoD) and International Tactical Communications and public safety and professional communications markets. The Government Communications Systems segment is engaged in serving civil national intelligence and defense markets. The Integrated Network Solutions segment is engaged in serving information technology (IT) services and managed satellite and terrestrial communications solutions markets. The Exelis segment provides positioning and navigation sensors air traffic management solutions image processing and distribution communications and information systems.

Harris Corporation

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