In the latest trading session, Harris (LHX - Free Report) closed at $206.78, marking a +0.61% move from the previous day. This change outpaced the S&P 500's 0.2% loss on the day. At the same time, the Dow lost 0.08%, and the tech-heavy Nasdaq lost 0.3%.
Heading into today, shares of the technology and communications company had lost 4.08% over the past month, lagging the Aerospace sector's loss of 1.23% and the S&P 500's loss of 0.25% in that time.
Investors will be hoping for strength from LHX as it approaches its next earnings release, which is expected to be October 30, 2019. In that report, analysts expect LHX to post earnings of $2.39 per share. This would mark year-over-year growth of 34.27%. Our most recent consensus estimate is calling for quarterly revenue of $4.45 billion, up 188.66% from the year-ago period.
Investors should also note any recent changes to analyst estimates for LHX. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. LHX is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that LHX has a Forward P/E ratio of 21.23 right now. For comparison, its industry has an average Forward P/E of 17.73, which means LHX is trading at a premium to the group.
It is also worth noting that LHX currently has a PEG ratio of 2.65. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Aerospace - Defense industry currently had an average PEG ratio of 2.02 as of yesterday's close.
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 98, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.