In its upcoming report, L3Harris (LHX) is predicted by Wall Street analysts to post quarterly earnings of $3.26 per share, reflecting an increase of 2.2% compared to the same period last year. Revenues are forecasted to be $5.31 billion, representing a year-over-year increase of 8%.

Over the last 30 days, there has been a downward revision of 0.2% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.

Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.

While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.

In light of this perspective, let's dive into the average estimates of certain L3Harris metrics that are commonly tracked and forecasted by Wall Street analysts.

According to the collective judgment of analysts, 'Revenue- Space and Airborne Systems' should come in at $1.74 billion. The estimate points to a change of +3.2% from the year-ago quarter.

The consensus among analysts is that 'Revenue- Integrated Mission Systems' will reach $1.64 billion. The estimate indicates a change of +4.6% from the prior-year quarter.

Analysts expect 'Revenue- Communication Systems' to come in at $1.35 billion. The estimate indicates a year-over-year change of +7.8%.

View all Key Company Metrics for L3Harris here>>>

L3Harris shares have witnessed a change of +6.7% in the past month, in contrast to the Zacks S&P 500 composite's +4.5% move. With a Zacks Rank #3 (Hold), LHX is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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