Zacks: Brokerages Anticipate Raytheon (RTN) Will Announce Earnings of $2.08 Per Share

Equities analysts predict that Raytheon (NYSE:RTN) will announce earnings of $2.08 per share for the current quarter, Zacks reports. Five analysts have issued estimates for Raytheon’s earnings. The highest EPS estimate is $2.29 and the lowest is $2.00. Raytheon posted earnings of $1.73 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 20.2%. The firm is expected to report its next quarterly earnings results on Thursday, April 26th.

According to Zacks, analysts expect that Raytheon will report full-year earnings of $9.66 per share for the current financial year, with EPS estimates ranging from $9.60 to $9.75. For the next year, analysts anticipate that the business will post earnings of $11.14 per share, with EPS estimates ranging from $10.75 to $11.68. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that follow Raytheon.

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Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, January 25th. The aerospace company reported $2.03 EPS for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.01. Raytheon had a net margin of 7.98% and a return on equity of 21.36%. The company had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same period in the prior year, the business posted $1.84 EPS. The company’s quarterly revenue was up 8.0% on a year-over-year basis.

A number of research firms have recently commented on RTN. Stifel Nicolaus increased their price objective on shares of Raytheon from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Cowen restated a “buy” rating and set a $215.00 price objective on shares of Raytheon in a research note on Thursday, January 25th. Zacks Investment Research downgraded shares of Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, March 12th. Royal Bank of Canada set a $235.00 target price on shares of Raytheon and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Finally, JPMorgan Chase & Co. downgraded shares of Raytheon from an “overweight” rating to a “neutral” rating and raised their target price for the company from $190.00 to $210.00 in a research note on Tuesday, December 12th. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Raytheon currently has a consensus rating of “Buy” and a consensus target price of $214.12.

In other Raytheon news, Director Letitia A. Long sold 650 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $185.83, for a total transaction of $120,789.50. Following the completion of the sale, the director now directly owns 2,273 shares in the company, valued at $422,391.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Frank R. Jimenez sold 175 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $189.13, for a total transaction of $33,097.75. Following the sale, the vice president now owns 28,311 shares of the company’s stock, valued at $5,354,459.43. The disclosure for this sale can be found here. Insiders have sold 79,400 shares of company stock valued at $17,052,714 over the last 90 days. Company insiders own 0.19% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its position in Raytheon by 6.2% during the fourth quarter. BlackRock Inc. now owns 21,240,939 shares of the aerospace company’s stock worth $3,990,111,000 after acquiring an additional 1,237,648 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Raytheon by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 4,182,034 shares of the aerospace company’s stock worth $785,594,000 after purchasing an additional 99,090 shares during the period. Geode Capital Management LLC increased its holdings in shares of Raytheon by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 3,486,232 shares of the aerospace company’s stock worth $653,684,000 after purchasing an additional 110,397 shares during the period. Franklin Resources Inc. increased its holdings in shares of Raytheon by 6.2% during the fourth quarter. Franklin Resources Inc. now owns 2,851,144 shares of the aerospace company’s stock worth $535,605,000 after purchasing an additional 166,467 shares during the period. Finally, Amundi Pioneer Asset Management Inc. increased its holdings in shares of Raytheon by 8.1% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 2,705,163 shares of the aerospace company’s stock worth $508,166,000 after purchasing an additional 203,076 shares during the period. Hedge funds and other institutional investors own 73.40% of the company’s stock.

Raytheon stock traded up $5.46 during trading on Friday, hitting $214.57. 2,927,231 shares of the stock were exchanged, compared to its average volume of 1,672,810. Raytheon has a one year low of $148.65 and a one year high of $222.82. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.46 and a current ratio of 1.54. The firm has a market cap of $61,904.74, a P/E ratio of 30.87, a price-to-earnings-growth ratio of 2.03 and a beta of 0.71.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 10th. Shareholders of record on Wednesday, April 11th will be given a dividend of $0.8675 per share. The ex-dividend date of this dividend is Tuesday, April 10th. This is an increase from Raytheon’s previous quarterly dividend of $0.80. This represents a $3.47 annualized dividend and a yield of 1.62%. Raytheon’s dividend payout ratio (DPR) is 45.90%.

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Raytheon Company Profile

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.

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