Brokerages expect that Raytheon (NYSE:RTN) will post earnings of $3.12 per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Raytheon’s earnings. The highest EPS estimate is $3.24 and the lowest is $2.98. Raytheon posted earnings per share of $2.93 during the same quarter last year, which would suggest a positive year over year growth rate of 6.5%. The business is expected to announce its next earnings results on Thursday, January 30th.
According to Zacks, analysts expect that Raytheon will report full year earnings of $11.86 per share for the current fiscal year, with EPS estimates ranging from $11.75 to $12.00. For the next year, analysts forecast that the company will post earnings of $12.91 per share, with EPS estimates ranging from $12.20 to $13.45. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that that provide coverage for Raytheon.
Raytheon (NYSE:RTN) last announced its earnings results on Thursday, October 24th. The aerospace company reported $3.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.86 by $0.22. The business had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.29 billion. Raytheon had a return on equity of 27.23% and a net margin of 11.47%. The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $2.25 earnings per share.
Several equities analysts have recently weighed in on the stock. Sanford C. Bernstein raised their price objective on shares of Raytheon from $212.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, October 25th. ValuEngine downgraded shares of Raytheon from a “hold” rating to a “sell” rating in a report on Tuesday. JPMorgan Chase & Co. set a $240.00 target price on shares of Raytheon and gave the company a “buy” rating in a research note on Friday, October 25th. UBS Group set a $230.00 target price on shares of Raytheon and gave the stock a “hold” rating in a report on Friday, October 25th. Finally, Barclays set a $215.00 price target on shares of Raytheon and gave the stock a “hold” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $217.76.
In other news, Director Tracy A. Atkinson sold 500 shares of Raytheon stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $215.48, for a total transaction of $107,740.00. Following the transaction, the director now owns 4,376 shares in the company, valued at $942,940.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Wesley D. Kremer sold 2,915 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $200.00, for a total value of $583,000.00. Following the transaction, the vice president now directly owns 26,260 shares in the company, valued at $5,252,000. The disclosure for this sale can be found here. Insiders have sold 10,215 shares of company stock worth $2,038,770 in the last 90 days. 0.18% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in the stock. Bridger Capital Management LLC purchased a new position in Raytheon during the third quarter valued at approximately $26,000. Liberty Wealth Management LLC boosted its stake in shares of Raytheon by 312.5% during the 3rd quarter. Liberty Wealth Management LLC now owns 132 shares of the aerospace company’s stock valued at $26,000 after buying an additional 100 shares during the period. Garrett Wealth Advisory Group LLC acquired a new stake in shares of Raytheon during the 3rd quarter valued at $32,000. Sound Income Strategies LLC grew its holdings in shares of Raytheon by 95.3% during the 3rd quarter. Sound Income Strategies LLC now owns 166 shares of the aerospace company’s stock valued at $33,000 after acquiring an additional 81 shares in the last quarter. Finally, First Financial Corp IN purchased a new position in shares of Raytheon during the 3rd quarter valued at $33,000. 74.30% of the stock is owned by hedge funds and other institutional investors.
Raytheon stock traded up $0.03 during midday trading on Thursday, hitting $214.89. The company’s stock had a trading volume of 1,235,979 shares, compared to its average volume of 1,840,958. Raytheon has a 12 month low of $144.27 and a 12 month high of $220.03. The company has a quick ratio of 1.44, a current ratio of 1.54 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $60.26 billion, a PE ratio of 20.25, a price-to-earnings-growth ratio of 1.72 and a beta of 0.88. The stock’s 50-day moving average price is $213.53 and its 200-day moving average price is $191.69.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Wednesday, January 8th will be given a $0.9425 dividend. This represents a $3.77 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Tuesday, January 7th. Raytheon’s dividend payout ratio (DPR) is currently 35.53%.
Raytheon Company Profile
Raytheon Company develops integrated products, services, and solutions for the defense and other government markets worldwide. It operates through five segments: Integrated Defense Systems (IDS); Intelligence, Information and Services (IIS); Missile Systems (MS); Space and Airborne Systems (SAS); and Forcepoint.
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