Zacks: Brokerages Anticipate Raytheon Company (RTN) Will Announce Earnings of $2.03 Per Share
Equities research analysts predict that Raytheon Company (NYSE:RTN) will report earnings of $2.03 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Raytheon’s earnings. The lowest EPS estimate is $1.96 and the highest is $2.11. Raytheon reported earnings of $1.88 per share in the same quarter last year, which would indicate a positive year over year growth rate of 8%. The firm is expected to issue its next quarterly earnings results on Thursday, January 25th.
On average, analysts expect that Raytheon will report full-year earnings of $7.61 per share for the current year, with EPS estimates ranging from $7.55 to $7.70. For the next year, analysts anticipate that the business will post earnings of $8.24 per share, with EPS estimates ranging from $8.00 to $8.40. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Raytheon.
Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, October 26th. The aerospace company reported $1.97 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.07. Raytheon had a return on equity of 20.98% and a net margin of 8.77%. The business had revenue of $6.28 billion during the quarter, compared to the consensus estimate of $6.33 billion. During the same period in the previous year, the business earned $1.79 EPS. The business’s quarterly revenue was up 4.5% on a year-over-year basis.
A number of research analysts recently issued reports on RTN shares. Robert W. Baird restated an “outperform” rating and set a $212.00 price objective (up previously from $170.00) on shares of Raytheon in a research report on Thursday, August 10th. Vetr lowered Raytheon from a “buy” rating to a “hold” rating and set a $187.08 price objective for the company. in a research report on Wednesday, August 30th. Zacks Investment Research lowered Raytheon from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. BidaskClub lowered Raytheon from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Buckingham Research boosted their price target on Raytheon from $190.00 to $199.00 and gave the stock a “buy” rating in a research report on Friday, August 11th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Raytheon presently has a consensus rating of “Buy” and an average price target of $200.18.
In other Raytheon news, VP Frank R. Jimenez sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $181.94, for a total value of $90,970.00. Following the completion of the transaction, the vice president now owns 29,292 shares of the company’s stock, valued at approximately $5,329,386.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Frank R. Jimenez sold 650 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $187.27, for a total value of $121,725.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,941 shares of company stock valued at $902,999. Insiders own 0.19% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of RTN. Steward Partners Investment Advisory LLC acquired a new stake in Raytheon during the 3rd quarter valued at $1,211,000. Visionary Asset Management Inc. acquired a new stake in Raytheon during the 3rd quarter valued at $226,000. Public Employees Retirement System of Ohio increased its holdings in Raytheon by 0.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 201,989 shares of the aerospace company’s stock valued at $37,687,000 after purchasing an additional 1,751 shares in the last quarter. GSA Capital Partners LLP increased its holdings in Raytheon by 9.9% during the 3rd quarter. GSA Capital Partners LLP now owns 4,367 shares of the aerospace company’s stock valued at $815,000 after purchasing an additional 393 shares in the last quarter. Finally, Belpointe Asset Management LLC acquired a new stake in Raytheon during the 3rd quarter valued at $805,000. 73.87% of the stock is owned by institutional investors and hedge funds.
Raytheon (RTN) traded up $0.60 during trading hours on Friday, reaching $186.06. The company had a trading volume of 434,277 shares, compared to its average volume of 1,330,625. Raytheon has a twelve month low of $137.70 and a twelve month high of $190.25. The firm has a market cap of $53,614.08, a price-to-earnings ratio of 24.53, a P/E/G ratio of 2.52 and a beta of 0.57. The company has a quick ratio of 1.55, a current ratio of 1.66 and a debt-to-equity ratio of 0.44.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 3rd will be issued a $0.7975 dividend. The ex-dividend date of this dividend is Tuesday, January 2nd. This represents a $3.19 annualized dividend and a yield of 1.71%. Raytheon’s dividend payout ratio (DPR) is 42.88%.
Raytheon declared that its board has approved a stock repurchase plan on Wednesday, November 15th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the aerospace company to buy shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
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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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