Equities research analysts expect that Raytheon (NYSE:RTN) will report sales of $6.50 billion for the current quarter, Zacks reports. Five analysts have made estimates for Raytheon’s earnings. The highest sales estimate is $6.56 billion and the lowest is $6.44 billion. Raytheon posted sales of $6.28 billion in the same quarter last year, which suggests a positive year over year growth rate of 3.5%. The firm is expected to report its next earnings report on Thursday, July 26th.
According to Zacks, analysts expect that Raytheon will report full year sales of $26.79 billion for the current fiscal year, with estimates ranging from $26.61 billion to $27.05 billion. For the next fiscal year, analysts forecast that the business will post sales of $28.06 billion per share, with estimates ranging from $27.65 billion to $28.28 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Raytheon.
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Raytheon (NYSE:RTN) last posted its earnings results on Thursday, April 26th. The aerospace company reported $2.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.10 by $0.10. Raytheon had a net margin of 8.40% and a return on equity of 22.69%. The company had revenue of $6.27 billion during the quarter, compared to analysts’ expectations of $6.21 billion. During the same period last year, the company posted $1.74 earnings per share. Raytheon’s quarterly revenue was up 4.4% on a year-over-year basis.
RTN has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $244.00 price target on the stock in a research report on Wednesday, April 11th. Cowen reissued a “buy” rating and issued a $235.00 price objective on shares of Raytheon in a research note on Tuesday, April 17th. Morgan Stanley increased their price objective on shares of Raytheon from $224.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Sanford C. Bernstein increased their price objective on shares of Raytheon from $231.00 to $255.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Finally, Wolfe Research raised shares of Raytheon from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 8th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $220.53.
Shares of NYSE:RTN traded up $0.44 during trading on Thursday, reaching $211.06. 1,720,508 shares of the stock traded hands, compared to its average volume of 2,282,245. Raytheon has a 52-week low of $158.32 and a 52-week high of $229.75. The company has a quick ratio of 1.52, a current ratio of 1.62 and a debt-to-equity ratio of 0.46. The stock has a market cap of $60.63 billion, a price-to-earnings ratio of 27.70, a PEG ratio of 1.86 and a beta of 0.70.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 10th. Shareholders of record on Wednesday, April 11th were paid a $0.8675 dividend. This is a boost from Raytheon’s previous quarterly dividend of $0.80. This represents a $3.47 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Tuesday, April 10th. Raytheon’s dividend payout ratio (DPR) is presently 45.54%.
In other news, CAO Michael J. Wood sold 543 shares of the firm’s stock in a transaction dated Friday, March 23rd. The shares were sold at an average price of $215.02, for a total value of $116,755.86. Following the completion of the sale, the chief accounting officer now owns 16,427 shares in the company, valued at approximately $3,532,133.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen J. Hadley sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $209.23, for a total transaction of $209,230.00. Following the completion of the sale, the director now owns 9,524 shares of the company’s stock, valued at approximately $1,992,706.52. The disclosure for this sale can be found here. Insiders sold a total of 38,969 shares of company stock valued at $8,323,643 over the last three months. Corporate insiders own 0.19% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Wesbanco Bank Inc. grew its holdings in Raytheon by 118.2% in the 1st quarter. Wesbanco Bank Inc. now owns 76,704 shares of the aerospace company’s stock valued at $16,555,000 after buying an additional 41,556 shares during the last quarter. CIBC World Markets Inc. grew its holdings in Raytheon by 512.5% in the 1st quarter. CIBC World Markets Inc. now owns 269,146 shares of the aerospace company’s stock valued at $58,087,000 after buying an additional 225,203 shares during the last quarter. EagleClaw Capital Managment LLC acquired a new stake in Raytheon in the 1st quarter valued at approximately $205,000. Moors & Cabot Inc. grew its holdings in Raytheon by 5.1% in the 1st quarter. Moors & Cabot Inc. now owns 10,509 shares of the aerospace company’s stock valued at $2,268,000 after buying an additional 513 shares during the last quarter. Finally, Trust Co. of Vermont grew its holdings in Raytheon by 2.6% in the 1st quarter. Trust Co. of Vermont now owns 9,788 shares of the aerospace company’s stock valued at $2,112,000 after buying an additional 244 shares during the last quarter. 73.65% of the stock is currently owned by institutional investors.
Raytheon Company Profile
Raytheon Company develops integrated products, services, and solutions for 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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