$7.26 Billion in Sales Expected for Raytheon (NYSE:RTN) This Quarter

Equities analysts expect Raytheon (NYSE:RTN) to post $7.26 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Raytheon’s earnings, with the highest sales estimate coming in at $7.32 billion and the lowest estimate coming in at $7.15 billion. Raytheon posted sales of $6.81 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.6%. The business is scheduled to report its next earnings results before the market opens on Thursday, October 24th.

According to Zacks, analysts expect that Raytheon will report full year sales of $29.07 billion for the current financial year, with estimates ranging from $28.97 billion to $29.23 billion. For the next financial year, analysts expect that the company will post sales of $31.10 billion, with estimates ranging from $30.75 billion to $31.61 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Raytheon.

Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, July 25th. The aerospace company reported $2.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.61 by $0.31. The business had revenue of $7.16 billion during the quarter, compared to analyst estimates of $7.02 billion. Raytheon had a return on equity of 26.34% and a net margin of 10.96%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.45 earnings per share.

A number of research firms have recently issued reports on RTN. UBS Group upped their price target on Raytheon from $205.00 to $215.00 and gave the company a “neutral” rating in a research report on Friday, September 13th. Credit Suisse Group upgraded Raytheon from a “neutral” rating to an “outperform” rating and upped their price target for the company from $188.00 to $230.00 in a research report on Thursday, October 3rd. ValuEngine lowered Raytheon from a “hold” rating to a “sell” rating in a research report on Friday, October 11th. Sanford C. Bernstein lowered Raytheon from an “outperform” rating to a “market perform” rating and set a $212.00 price objective for the company. in a research report on Tuesday, September 17th. Finally, Bank of America reiterated a “buy” rating and issued a $265.00 price objective (up from $224.00) on shares of Raytheon in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $214.11.

In other news, VP Frank R. Jimenez sold 2,500 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $196.76, for a total transaction of $491,900.00. Following the completion of the transaction, the vice president now directly owns 25,504 shares in the company, valued at $5,018,167.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Wesley D. Kremer sold 2,915 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $200.00, for a total value of $583,000.00. Following the transaction, the vice president now owns 26,260 shares of the company’s stock, valued at $5,252,000. The disclosure for this sale can be found here. Insiders sold 10,769 shares of company stock valued at $2,120,750 over the last quarter. 0.18% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Amundi Pioneer Asset Management Inc. boosted its position in shares of Raytheon by 7.3% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 4,165,178 shares of the aerospace company’s stock worth $758,397,000 after buying an additional 284,688 shares during the period. Morgan Stanley boosted its position in shares of Raytheon by 5.5% during the second quarter. Morgan Stanley now owns 3,432,646 shares of the aerospace company’s stock worth $596,867,000 after buying an additional 178,321 shares during the period. Nuveen Asset Management LLC boosted its position in shares of Raytheon by 11,865.9% during the second quarter. Nuveen Asset Management LLC now owns 1,593,864 shares of the aerospace company’s stock worth $277,141,000 after buying an additional 1,580,544 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Raytheon by 16.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 1,509,939 shares of the aerospace company’s stock worth $262,548,000 after buying an additional 212,361 shares during the period. Finally, Charles Schwab Investment Advisory Inc. boosted its position in shares of Raytheon by 5.5% during the second quarter. Charles Schwab Investment Advisory Inc. now owns 1,399,452 shares of the aerospace company’s stock worth $243,337,000 after buying an additional 73,207 shares during the period. Institutional investors and hedge funds own 72.80% of the company’s stock.

RTN stock opened at $204.71 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.46 and a quick ratio of 1.35. The business has a 50 day simple moving average of $196.02 and a 200-day simple moving average of $184.07. The firm has a market capitalization of $55.63 billion, a PE ratio of 19.29, a price-to-earnings-growth ratio of 1.60 and a beta of 0.87. Raytheon has a 1 year low of $144.27 and a 1 year high of $207.48.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 7th. Investors of record on Wednesday, October 9th will be given a $0.9425 dividend. The ex-dividend date of this dividend is Tuesday, October 8th. This represents a $3.77 annualized dividend and a yield of 1.84%. Raytheon’s payout ratio is 35.53%.

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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