Raytheon (RTN) Expected to Announce Earnings of $2.05 Per Share

Analysts expect that Raytheon (NYSE:RTN) will announce earnings per share of $2.05 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Raytheon’s earnings, with the highest EPS estimate coming in at $2.77 and the lowest estimate coming in at $1.90. Raytheon posted earnings per share of $1.97 during the same quarter last year, which would suggest a positive year over year growth rate of 4.1%. The firm is scheduled to report its next quarterly earnings report before the market opens on Thursday, October 25th.

On average, analysts expect that Raytheon will report full year earnings of $9.93 per share for the current financial year, with EPS estimates ranging from $9.78 to $10.00. For the next fiscal year, analysts expect that the company will report earnings of $11.60 per share, with EPS estimates ranging from $11.15 to $11.95. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Raytheon.

Raytheon (NYSE:RTN) last posted its earnings results on Thursday, July 26th. The aerospace company reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.46. The firm had revenue of $6.63 billion during the quarter, compared to analysts’ expectations of $6.51 billion. Raytheon had a net margin of 9.24% and a return on equity of 24.01%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.98 earnings per share.

A number of research analysts have recently commented on the stock. Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $224.00 target price for the company in a report on Wednesday, July 18th. Morgan Stanley dropped their target price on shares of Raytheon from $239.00 to $228.00 and set an “overweight” rating for the company in a report on Thursday, July 12th. Stifel Nicolaus dropped their target price on shares of Raytheon from $235.00 to $230.00 and set a “buy” rating for the company in a report on Friday, July 27th. Finally, UBS Group assumed coverage on shares of Raytheon in a report on Wednesday, August 15th. They issued a “buy” rating and a $250.00 target price for the company. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Raytheon presently has a consensus rating of “Buy” and an average price target of $228.43.

In related news, VP Taylor W. Lawrence sold 3,299 shares of the firm’s stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $199.41, for a total value of $657,853.59. Following the completion of the transaction, the vice president now owns 44,220 shares in the company, valued at approximately $8,817,910.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.19% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rainier Group Investment Advisory LLC bought a new position in Raytheon during the 1st quarter worth approximately $103,000. Squar Milner Financial Services LLC bought a new position in Raytheon during the 2nd quarter worth approximately $100,000. Clarus Wealth Advisors bought a new position in Raytheon during the 2nd quarter worth approximately $113,000. Fort L.P. bought a new position in Raytheon during the 2nd quarter worth approximately $117,000. Finally, Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in Raytheon during the 3rd quarter worth approximately $134,000. Institutional investors and hedge funds own 72.90% of the company’s stock.

RTN stock opened at $191.01 on Wednesday. The stock has a market capitalization of $55.09 billion, a PE ratio of 25.07, a P/E/G ratio of 1.48 and a beta of 0.68. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.61 and a quick ratio of 1.51. Raytheon has a 12 month low of $179.29 and a 12 month high of $229.75.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 8th. Investors of record on Wednesday, October 10th will be issued a $0.8675 dividend. The ex-dividend date is Tuesday, October 9th. This represents a $3.47 dividend on an annualized basis and a yield of 1.82%. Raytheon’s dividend payout ratio (DPR) is presently 45.54%.

About Raytheon

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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