NEW YORK (TheStreet) -- Harris Corp. (HRS) shares are flat at $68 on Tuesday after the international communications and information technology service provider reported its first quarter earnings results and maintained its 2015 guidance.
The company reported net income of $125.1 million, or $1.18 per diluted share, which is 8 cents better than the $1.10 per diluted share analysts were expecting for the period.
The company also generated $1.16 billion in quarterly revenues, a 3.1% decline from the same quarter the previous year, but ahead of Zack's analysts consensus estimate of $1.15 billion in revenue.
Meanwhile, the company maintained its full year earnings guidance between $4.75 and $5 per diluted share.
TheStreet Ratings team rates HARRIS CORP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate HARRIS CORP (HRS) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, increase in stock price during the past year, good cash flow from operations, impressive record of earnings per share growth and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: HRS Ratings Report