Analysts predict that Raytheon (NYSE:RTN) will report earnings of $2.08 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Raytheon’s earnings. The lowest EPS estimate is $2.00 and the highest is $2.29. Raytheon posted earnings per share of $1.73 in the same quarter last year, which suggests a positive year-over-year growth rate of 20.2%. The business is expected to issue its next earnings results on Thursday, April 26th.
On average, analysts expect that Raytheon will report full-year earnings of $9.66 per share for the current year, with EPS estimates ranging from $9.60 to $9.75. For the next financial year, analysts forecast that the business will report earnings of $11.14 per share, with EPS estimates ranging from $10.75 to $11.68. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover Raytheon.
Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, January 25th. The aerospace company reported $2.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.01. Raytheon had a return on equity of 21.36% and a net margin of 7.98%. The company had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter in the prior year, the business earned $1.84 EPS. Raytheon’s revenue was up 8.0% on a year-over-year basis.
In related news, Chairman Thomas A. Kennedy sold 44,778 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $215.90, for a total value of $9,667,570.20. Following the completion of the sale, the chairman now directly owns 138,339 shares of the company’s stock, valued at approximately $29,867,390.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Frank R. Jimenez sold 175 shares of the company’s stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $189.13, for a total value of $33,097.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,400 shares of company stock valued at $17,052,714. Insiders own 0.19% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. boosted its position in shares of Raytheon by 2.0% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 42,187 shares of the aerospace company’s stock valued at $7,925,000 after purchasing an additional 807 shares during the period. Certified Advisory Corp acquired a new stake in Raytheon during the 4th quarter worth approximately $174,000. D.B. Root & Company LLC acquired a new stake in Raytheon during the 4th quarter worth approximately $711,000. KCM Investment Advisors LLC lifted its position in Raytheon by 4.2% during the 4th quarter. KCM Investment Advisors LLC now owns 25,462 shares of the aerospace company’s stock worth $4,783,000 after acquiring an additional 1,019 shares during the period. Finally, We Are One Seven LLC acquired a new stake in Raytheon during the 4th quarter worth approximately $903,000. 72.50% of the stock is owned by hedge funds and other institutional investors.
Shares of Raytheon (NYSE RTN) traded up $0.72 during midday trading on Thursday, reaching $214.81. The company’s stock had a trading volume of 1,744,826 shares, compared to its average volume of 1,910,000. The company has a current ratio of 1.54, a quick ratio of 1.46 and a debt-to-equity ratio of 0.48. Raytheon has a 12 month low of $148.65 and a 12 month high of $222.82. The stock has a market cap of $61,970.00, a P/E ratio of 28.53, a price-to-earnings-growth ratio of 2.03 and a beta of 0.71.
Raytheon announced that its Board of Directors has initiated a share repurchase plan on Wednesday, November 15th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the aerospace company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
Raytheon Company is a technology company, which specializes in defense and other government markets. The Company develops integrated products, services and solutions in various markets, including sensing; effects; command, control, communications, computers, cyber and intelligence; mission support, and cybersecurity.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Raytheon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon and related companies with MarketBeat.com's FREE daily email newsletter.