Key Highlights:
- Mixed Q1 results with a 2% revenue dip but a 7% rise in adjusted EPS.
- L3Harris revises annual outlook post the Commercial Aviation Solutions sale.
- Wall Street maintains an optimistic view with a "Buy" rating.
L3Harris Technologies (NYSE: LHX) reported mixed first-quarter earnings, triggering a downward revision of its annual outlook due to the divestiture of its Commercial Aviation Solutions unit. The company's revenue slipped by 2% to $5.1 billion, falling short of analyst expectations. However, the adjusted earnings per share showed resilience, climbing 7% to $2.41, surpassing forecasts. Despite these mixed results, shares saw a 3.3% decline in premarket trading.
Wall Street Analysts' Outlook
Analyst projections provide a promising outlook for L3Harris Technologies Inc. (LHX, Financial). The one-year price target, as derived from 20 analysts, averages at $255.09. Estimates range from a high of $324.00 to a low of $212.00. This suggests a potential upside of 20.40% from the current stock price of $211.87. For more comprehensive forecast insights, visit the L3Harris Technologies Inc (LHX) Forecast page.
The consensus among 24 brokerage firms positions L3Harris Technologies Inc. as an "Outperform" candidate with an average recommendation of 2.0 on a scale where 1 signifies a Strong Buy and 5 indicates a Sell.
According to GuruFocus estimates, the projected GF Value for L3Harris Technologies Inc. is $251.37 over the next year. This value denotes an expected gain of 18.64% from the current market price of $211.87. The GF Value is GuruFocus' calculated fair value, utilizing historical trading multiples, past business growth, and future performance estimates. Detailed information is accessible on the L3Harris Technologies Inc (LHX, Financial) Summary page.
