Harris Bags Another Contract - Analyst Blog
September 16 2011 - 2:21PM
Zacks
A leading supplier of communications equipment and services,
Harris Corp. (HRS) recently won a contract worth
$29 million to supply its popular Falcon III portable multi-band
manpack radios to the U.S. Air Force.
Falcon III radios support interoperable voice and wideband data
communications facilities, thus enabling the user to communicate
properly on land or from land to air.
Recently, Harris CapRock Communications, which is a global
provider of mission-critical managed satellite communications
solutions for the energy, government, and maritime industries,
received a contract from Farstad Shipping to supply Very Small
Aperture Terminal (VSAT) for its 53 fleets.
Harris remains the leader in the public safety and professional
communication market and boasts products ranging from IP voice and
data networks, industry leading multi-band, multi-mode radios,
public safety-grade broadband voice, video and data solutions that
support 500 systems globally. Recently, the company declared its
fourth quarter 2011 financial results, where both revenue and
earnings per share (EPS) surpassed the Zacks Consensus
Estimate.
Accretive share repurchase plan and recent dividend hikes will
act as positive catalysts for the stock going forward. Moreover,
continuous contract wins and huge order back logs will support
future growth.
However, the company remains exposed to stiff competition from
companies like Boeing Co. (BA), General
Dynamics Corp. (GD) and Raytheon Co.
(RTN), which also provide high-end public safety communication
systems.
We thus maintain our long-term Neutral recommendation for Harris
Corporation. Currently, Harris Corporation has a Zacks #3 Rank,
implying a short-term Hold rating on the stock.
BOEING CO (BA): Free Stock Analysis Report
GENL DYNAMICS (GD): Free Stock Analysis Report
HARRIS CORP (HRS): Free Stock Analysis Report
RAYTHEON CO (RTN): Free Stock Analysis Report
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