Raytheon (RTN) Expected to Announce Earnings of $2.03 Per Share

Wall Street analysts forecast that Raytheon (NYSE:RTN) will report earnings per share (EPS) of $2.03 for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Raytheon’s earnings, with estimates ranging from $1.89 to $2.77. Raytheon posted earnings per share of $1.97 in the same quarter last year, which indicates a positive year-over-year growth rate of 3%. The business is expected to report its next earnings results on Thursday, October 25th.

On average, analysts expect that Raytheon will report full year earnings of $9.93 per share for the current fiscal year, with EPS estimates ranging from $9.78 to $10.00. For the next financial 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 a mean average based on a survey of research firms that that provide coverage for Raytheon.

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



A number of equities research analysts recently commented on RTN shares. ValuEngine downgraded shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Friday, June 15th. UBS Group initiated 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. Zacks Investment Research cut shares of Raytheon from a “buy” rating to a “hold” rating in a report on Wednesday, August 1st. 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, 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. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $224.29.

NYSE:RTN traded up $2.33 during mid-day trading on Thursday, reaching $203.16. The stock had a trading volume of 1,101,744 shares, compared to its average volume of 1,216,370. The company has a quick ratio of 1.51, a current ratio of 1.61 and a debt-to-equity ratio of 0.45. The company has a market cap of $56.58 billion, a P/E ratio of 26.66, a PEG ratio of 1.52 and a beta of 0.68. Raytheon has a twelve month low of $179.29 and a twelve month high of $229.75.

In other 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 transaction of $657,853.59. Following the completion of the transaction, the vice president now directly owns 44,220 shares of the company’s stock, valued at approximately $8,817,910.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.19% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of RTN. Squar Milner Financial Services LLC purchased a new stake in Raytheon in the 2nd quarter worth approximately $100,000. Rainier Group Investment Advisory LLC purchased a new stake in Raytheon in the 1st quarter worth approximately $103,000. Clarus Wealth Advisors purchased a new stake in Raytheon in the 2nd quarter worth approximately $113,000. Fort L.P. purchased a new stake in Raytheon in the 2nd quarter worth approximately $117,000. Finally, Mainstay Capital Management LLC ADV grew its stake in Raytheon by 19,218.3% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 25,307 shares of the aerospace company’s stock worth $131,000 after acquiring an additional 25,176 shares during the period. 73.28% of the stock is owned by institutional investors and hedge funds.

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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