Harris Corporation (HRS): Today's Featured Telecommunications Laggard

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Harris Corporation ( HRS) pushed the Telecommunications industry lower today making it today's featured Telecommunications laggard. The industry as a whole closed the day up 1.4%. By the end of trading, Harris Corporation fell $0.71 (-1.0%) to $69.77 on average volume. Throughout the day, 891,535 shares of Harris Corporation exchanged hands as compared to its average daily volume of 644,300 shares. The stock ranged in price between $68.72-$69.92 after having opened the day at $69.00 as compared to the previous trading day's close of $70.48. Other companies within the Telecommunications industry that declined today were: NeuStar ( NSR), down 19.8%, On Track Innovations ( OTIV), down 12.6%, InfoSonics Corporation ( IFON), down 6.8% and DSP Group ( DSPG), down 5.0%.

Harris Corporation, together with its subsidiaries, operates as an international communications and information technology company worldwide. The company operates in three segments: RF Communications, Integrated Network Solutions, and Government Communications Systems. Harris Corporation has a market cap of $7.5 billion and is part of the technology sector. The company has a P/E ratio of 16.7, below the S&P 500 P/E ratio of 17.7. Shares are up 1.0% year to date as of the close of trading on Wednesday. Currently there are 2 analysts that rate Harris Corporation a buy, 2 analysts rate it a sell, and 6 rate it a hold.

TheStreet Ratings rates Harris Corporation as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, compelling growth in net income, expanding profit margins, good cash flow from operations and growth in earnings per share. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.

On the positive front, Infinera Corporation ( INFN), up 29.0%, xG Technology ( XGTI), up 17.0%, Internet Gold Golden Lines ( IGLD), up 11.3% and Westell Technologies ( WSTL), up 10.2% , were all gainers within the telecommunications industry with LM Ericsson Telephone Company ( ERIC) being today's featured telecommunications industry leader.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the telecommunications industry could consider iShares Dow Jones US Telecom ( IYZ) while those bearish on the telecommunications industry could consider ProShares Ult Sht Telecommunication ( TLL).

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