In the latest trading session, L3Harris (LHX - Free Report) closed at $167.99, marking a -0.57% move from the previous day. This change was narrower than the S&P 500's 5.18% loss on the day. Meanwhile, the Dow lost 6.3%, and the Nasdaq, a tech-heavy index, lost 4.7%.
Heading into today, shares of the technology and communications company had lost 26.14% over the past month, outpacing the Aerospace sector's loss of 41.05% and lagging the S&P 500's loss of 24.68% in that time.
Wall Street will be looking for positivity from LHX as it approaches its next earnings report date. The company is expected to report EPS of $2.62, up 24.17% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.60 billion, up 166.12% from the year-ago period.
LHX's full-year Zacks Consensus Estimates are calling for earnings of $11.61 per share and revenue of $19.23 billion. These results would represent year-over-year changes of +15.18% and +54.17%, respectively.
Any recent changes to analyst estimates for LHX should also be noted by investors. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. LHX currently has a Zacks Rank of #2 (Buy).
Digging into valuation, LHX currently has a Forward P/E ratio of 14.55. This valuation marks a premium compared to its industry's average Forward P/E of 13.49.
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 100, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow LHX in the coming trading sessions, be sure to utilize Zacks.com.