Wall Street brokerages predict that Raytheon (NYSE:RTN) will post sales of $7.01 billion for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Raytheon’s earnings, with the highest sales estimate coming in at $7.07 billion and the lowest estimate coming in at $6.95 billion. Raytheon posted sales of $6.63 billion during the same quarter last year, which would indicate a positive year over year growth rate of 5.7%. The business is scheduled to announce its next quarterly earnings report on Thursday, July 25th.
According to Zacks, analysts expect that Raytheon will report full-year sales of $28.77 billion for the current year, with estimates ranging from $28.34 billion to $29.10 billion. For the next year, analysts expect that the firm will report sales of $30.75 billion, with estimates ranging from $30.52 billion to $31.31 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Raytheon.
Raytheon (NYSE:RTN) last announced its quarterly earnings results on Thursday, April 25th. The aerospace company reported $2.77 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.32. The business had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.58 billion. Raytheon had a net margin of 11.11% and a return on equity of 26.27%. Raytheon’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the company posted $2.20 EPS.
RTN has been the subject of a number of research reports. Zacks Investment Research cut Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, April 29th. Alembic Global Advisors raised Raytheon from a “neutral” rating to an “overweight” rating and set a $214.00 target price for the company in a research note on Tuesday, February 5th. ValuEngine cut Raytheon from a “hold” rating to a “sell” rating in a research note on Thursday, January 31st. Jefferies Financial Group increased their target price on Raytheon from $202.00 to $216.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Finally, Wolfe Research set a $205.00 target price on Raytheon and gave the stock a “buy” rating in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $209.69.
Shares of NYSE:RTN traded down $0.82 during mid-day trading on Thursday, reaching $179.71. The stock had a trading volume of 1,792,279 shares, compared to its average volume of 1,808,096. Raytheon has a twelve month low of $144.27 and a twelve month high of $214.76. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.31. The company has a market capitalization of $51.11 billion, a price-to-earnings ratio of 16.94, a P/E/G ratio of 1.40 and a beta of 0.96.
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Wednesday, April 10th were paid a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a yield of 2.10%. This is a boost from Raytheon’s previous quarterly dividend of $0.87. The ex-dividend date was Tuesday, April 9th. Raytheon’s dividend payout ratio is presently 35.53%.
In other news, VP Frank R. Jimenez sold 1,496 shares of the firm’s stock in a transaction that occurred on Friday, March 29th. The shares were sold at an average price of $181.58, for a total transaction of $271,643.68. Following the completion of the transaction, the vice president now directly owns 28,613 shares of the company’s stock, valued at approximately $5,195,548.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael J. Wood sold 427 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $177.58, for a total transaction of $75,826.66. Following the transaction, the vice president now directly owns 13,165 shares of the company’s stock, valued at $2,337,840.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,062 shares of company stock valued at $2,544,079. 0.18% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Alpha Omega Wealth Management LLC bought a new position in shares of Raytheon during the 1st quarter worth approximately $25,000. Loomis Sayles & Co. L P bought a new position in shares of Raytheon during the 1st quarter worth approximately $25,000. Athena Capital Advisors LLC bought a new position in shares of Raytheon during the 4th quarter worth approximately $26,000. Sontag Advisory LLC bought a new position in shares of Raytheon during the 4th quarter worth approximately $26,000. Finally, WP Advisors LLC bought a new position in shares of Raytheon during the 1st quarter worth approximately $26,000. 74.93% of the stock is owned by institutional investors.
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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