Analysts Expect Raytheon (RTN) Will Post Earnings of $2.08 Per Share

Equities analysts forecast that Raytheon (NYSE:RTN) will announce $2.08 earnings per share for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Raytheon’s earnings, with the highest EPS estimate coming in at $2.29 and the lowest estimate coming in at $2.00. Raytheon reported earnings per share of $1.73 in the same quarter last year, which would indicate a positive year-over-year growth rate of 20.2%. The business is scheduled to announce its next earnings results before the market opens on Thursday, April 26th.

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

How to Become a New Pot Stock Millionaire

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

A number of equities research analysts have weighed in on RTN shares. JPMorgan Chase downgraded Raytheon from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $190.00 to $210.00 in a report on Tuesday, December 12th. Morgan Stanley lifted their target price on Raytheon from $224.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Wells Fargo reiterated an “outperform” rating and issued a $215.00 target price (up from $202.00) on shares of Raytheon in a report on Tuesday, January 16th. Robert W. Baird reiterated a “buy” rating and issued a $237.00 target price on shares of Raytheon in a report on Friday, January 26th. Finally, Zacks Investment Research upgraded Raytheon from a “hold” rating to a “buy” rating and set a $217.00 target price for the company in a report on Friday, January 12th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $219.83.

RTN stock traded up $4.76 during mid-day trading on Friday, reaching $215.82. The company’s stock had a trading volume of 2,154,356 shares, compared to its average volume of 1,879,278. The company has a market cap of $62,265.37, a P/E ratio of 28.32, a PEG ratio of 2.04 and a beta of 0.71. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.46 and a current ratio of 1.54. Raytheon has a 12 month low of $149.70 and a 12 month high of $222.82.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 10th. Shareholders of record on Wednesday, April 11th will be paid a $0.8675 dividend. This represents a $3.47 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Tuesday, April 10th. This is a boost from Raytheon’s previous quarterly dividend of $0.80. Raytheon’s dividend payout ratio (DPR) is 41.86%.

In related news, Chairman Thomas A. Kennedy sold 44,778 shares of Raytheon stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $215.90, for a total transaction of $9,667,570.20. Following the transaction, the chairman now owns 138,339 shares of the company’s stock, valued at $29,867,390.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Michael J. Wood sold 523 shares of Raytheon stock in a transaction that occurred on Thursday, March 29th. The shares were sold at an average price of $214.30, for a total value of $112,078.90. Following the transaction, the chief accounting officer now directly owns 15,773 shares in the company, valued at approximately $3,380,153.90. The disclosure for this sale can be found here. Insiders sold 94,462 shares of company stock valued at $20,294,971 in the last three months. Insiders own 0.19% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Investment Centers of America Inc. boosted its position in shares of Raytheon by 26.8% during the third quarter. Investment Centers of America Inc. now owns 2,635 shares of the aerospace company’s stock valued at $492,000 after buying an additional 557 shares during the last quarter. MUFG Securities EMEA plc bought a new stake in Raytheon during the fourth quarter worth $39,449,000. Marietta Wealth Management LLC lifted its holdings in Raytheon by 7.4% during the third quarter. Marietta Wealth Management LLC now owns 9,730 shares of the aerospace company’s stock worth $1,815,000 after acquiring an additional 667 shares during the period. Independent Advisor Alliance lifted its holdings in Raytheon by 151.1% during the third quarter. Independent Advisor Alliance now owns 4,289 shares of the aerospace company’s stock worth $806,000 after acquiring an additional 2,581 shares during the period. Finally, Artisan Partners Limited Partnership lifted its holdings in Raytheon by 97.5% during the third quarter. Artisan Partners Limited Partnership now owns 131,675 shares of the aerospace company’s stock worth $24,568,000 after acquiring an additional 64,996 shares during the period. 73.43% of the stock is currently owned by institutional investors.

COPYRIGHT VIOLATION WARNING: “Analysts Expect Raytheon (RTN) Will Post Earnings of $2.08 Per Share” was first reported by WKRB News and is owned by of WKRB News. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this piece can be read at https://www.wkrb13.com/2018/04/01/analysts-expect-raytheon-rtn-will-post-earnings-of-2-08-per-share.html.

About Raytheon

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.

Get a free copy of the Zacks research report on Raytheon (RTN)

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.

Leave a Reply