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L3Harris (LHX) Outpaces Stock Market Gains: What You Should Know
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L3Harris (LHX - Free Report) closed the most recent trading day at $198.48, moving +0.77% from the previous trading session. This change outpaced the S&P 500's 0.29% gain on the day. Meanwhile, the Dow gained 0.11%, and the Nasdaq, a tech-heavy index, added 0.44%.
Heading into today, shares of the technology and communications company had lost 0.62% over the past month, lagging the Aerospace sector's loss of 0.04% and the S&P 500's gain of 1.51% in that time.
Investors will be hoping for strength from LHX as it approaches its next earnings release. The company is expected to report EPS of $2.78, up 41.84% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.82 billion, up 189.04% from the year-ago period.
Investors might also notice recent changes to analyst estimates for LHX. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.23% higher. LHX is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that LHX has a Forward P/E ratio of 19.7 right now. Its industry sports an average Forward P/E of 17.86, so we one might conclude that LHX is trading at a premium comparatively.
It is also worth noting that LHX currently has a PEG ratio of 2.46. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Aerospace - Defense industry currently had an average PEG ratio of 2.08 as of yesterday's close.
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 60, which puts it in the top 24% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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L3Harris (LHX) Outpaces Stock Market Gains: What You Should Know
L3Harris (LHX - Free Report) closed the most recent trading day at $198.48, moving +0.77% from the previous trading session. This change outpaced the S&P 500's 0.29% gain on the day. Meanwhile, the Dow gained 0.11%, and the Nasdaq, a tech-heavy index, added 0.44%.
Heading into today, shares of the technology and communications company had lost 0.62% over the past month, lagging the Aerospace sector's loss of 0.04% and the S&P 500's gain of 1.51% in that time.
Investors will be hoping for strength from LHX as it approaches its next earnings release. The company is expected to report EPS of $2.78, up 41.84% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.82 billion, up 189.04% from the year-ago period.
Investors might also notice recent changes to analyst estimates for LHX. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.23% higher. LHX is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that LHX has a Forward P/E ratio of 19.7 right now. Its industry sports an average Forward P/E of 17.86, so we one might conclude that LHX is trading at a premium comparatively.
It is also worth noting that LHX currently has a PEG ratio of 2.46. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Aerospace - Defense industry currently had an average PEG ratio of 2.08 as of yesterday's close.
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 60, which puts it in the top 24% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.