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L3Harris (LHX) Moves 10.0% Higher: Will This Strength Last?
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L3Harris (LHX - Free Report) shares soared 10% in the last trading session to close at $180.21. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 2.4% loss over the past four weeks.
The recent attack made by Palestine’s Hamas group on Israel and the following retaliatory strike from the Israeli military in Gaza has once again created a war zone the Middle East. Such conflicts tend to boost investors’ confidence in defense stocks, which in turn must have resulted in the latest uptick in LHX’s share price.
This technology and communications company is expected to post quarterly earnings of $3.08 per share in its upcoming report, which represents a year-over-year change of -5.5%. Revenues are expected to be $4.7 billion, up 10.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For L3Harris, the consensus EPS estimate for the quarter has been revised 0.5% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on LHX going forward to see if this recent jump can turn into more strength down the road.
L3Harris belongs to the Zacks Aerospace - Defense industry. Another stock from the same industry, Airbus Group (EADSY - Free Report) , closed the last trading session 0.7% lower at $32.67. Over the past month, EADSY has returned -9.1%.
For Airbus Group, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.33. This represents a change of +57.1% from what the company reported a year ago. Airbus Group currently has a Zacks Rank of #4 (Sell).
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L3Harris (LHX) Moves 10.0% Higher: Will This Strength Last?
L3Harris (LHX - Free Report) shares soared 10% in the last trading session to close at $180.21. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 2.4% loss over the past four weeks.
The recent attack made by Palestine’s Hamas group on Israel and the following retaliatory strike from the Israeli military in Gaza has once again created a war zone the Middle East. Such conflicts tend to boost investors’ confidence in defense stocks, which in turn must have resulted in the latest uptick in LHX’s share price.
This technology and communications company is expected to post quarterly earnings of $3.08 per share in its upcoming report, which represents a year-over-year change of -5.5%. Revenues are expected to be $4.7 billion, up 10.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For L3Harris, the consensus EPS estimate for the quarter has been revised 0.5% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on LHX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
L3Harris belongs to the Zacks Aerospace - Defense industry. Another stock from the same industry, Airbus Group (EADSY - Free Report) , closed the last trading session 0.7% lower at $32.67. Over the past month, EADSY has returned -9.1%.
For Airbus Group, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.33. This represents a change of +57.1% from what the company reported a year ago. Airbus Group currently has a Zacks Rank of #4 (Sell).