Raytheon Company (RTN) Expected to Announce Quarterly Sales of $6.23 Billion
Equities analysts expect that Raytheon Company (NYSE:RTN) will report $6.23 billion in sales for the current quarter, Zacks reports. Five analysts have issued estimates for Raytheon Company’s earnings, with estimates ranging from $6.16 billion to $6.33 billion. Raytheon Company posted sales of $6.04 billion during the same quarter last year, which suggests a positive year over year growth rate of 3.1%. The business is scheduled to issue its next earnings results on Thursday, July 27th.
According to Zacks, analysts expect that Raytheon Company will report full-year sales of $6.23 billion for the current fiscal year, with estimates ranging from $25 billion to $25.53 billion. For the next financial year, analysts expect that the firm will report sales of $26.17 billion per share, with estimates ranging from $25.75 billion to $26.64 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Raytheon Company.
Raytheon Company (NYSE:RTN) last posted its quarterly earnings results on Thursday, April 27th. The aerospace company reported $1.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.12. The company had revenue of $6 billion during the quarter, compared to analyst estimates of $5.83 billion. Raytheon Company had a net margin of 9.19% and a return on equity of 19.77%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.43 earnings per share.
A number of equities analysts have weighed in on RTN shares. Zacks Investment Research raised Raytheon Company from a “hold” rating to a “buy” rating and set a $160.00 target price for the company in a research report on Monday, January 30th. Vetr raised Raytheon Company from a “buy” rating to a “strong-buy” rating and set a $163.03 target price for the company in a research report on Thursday, January 26th. Jefferies Group LLC boosted their target price on Raytheon Company from $163.00 to $172.00 and gave the stock a “buy” rating in a research report on Monday, March 20th. Cowen and Company reissued a “buy” rating and issued a $170.00 target price on shares of Raytheon Company in a research report on Monday, April 10th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $180.00 target price on shares of Raytheon Company in a research report on Friday, March 24th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $167.26.
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In other Raytheon Company news, VP Taylor W. Lawrence sold 1,036 shares of the business’s stock in a transaction dated Monday, March 27th. The stock was sold at an average price of $149.96, for a total transaction of $155,358.56. Following the completion of the sale, the vice president now directly owns 51,517 shares in the company, valued at approximately $7,725,489.32. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Thomas A. Kennedy sold 5,422 shares of the business’s stock in a transaction dated Friday, March 24th. The shares were sold at an average price of $152.29, for a total value of $825,716.38. Following the sale, the chairman now owns 79,145 shares of the company’s stock, valued at $12,052,992.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,776 shares of company stock valued at $2,257,281. Corporate insiders own 0.21% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Shamrock Asset Management LLC increased its stake in Raytheon Company by 25.7% in the first quarter. Shamrock Asset Management LLC now owns 6,288 shares of the aerospace company’s stock worth $959,000 after buying an additional 1,287 shares in the last quarter. Stonebridge Capital Advisors LLC increased its position in shares of Raytheon Company by 1.3% in the first quarter. Stonebridge Capital Advisors LLC now owns 12,054 shares of the aerospace company’s stock worth $1,838,000 after buying an additional 155 shares during the period. Ibex Wealth Advisors increased its position in shares of Raytheon Company by 6.1% in the first quarter. Ibex Wealth Advisors now owns 24,264 shares of the aerospace company’s stock worth $3,638,000 after buying an additional 1,398 shares during the period. Bank of Nova Scotia increased its position in shares of Raytheon Company by 12.0% in the first quarter. Bank of Nova Scotia now owns 144,063 shares of the aerospace company’s stock worth $21,970,000 after buying an additional 15,459 shares during the period. Finally, Financial Advisors Network Inc. increased its position in shares of Raytheon Company by 18.1% in the first quarter. Financial Advisors Network Inc. now owns 2,073 shares of the aerospace company’s stock worth $329,000 after buying an additional 318 shares during the period. Institutional investors and hedge funds own 75.72% of the company’s stock.
Raytheon Company (NYSE:RTN) traded up 0.10% during trading on Friday, reaching $163.28. 761,605 shares of the company traded hands. Raytheon Company has a 52 week low of $129.00 and a 52 week high of $163.61. The company’s 50-day moving average price is $156.57 and its 200 day moving average price is $150.64. The firm has a market capitalization of $47.53 billion, a price-to-earnings ratio of 21.04 and a beta of 0.67. Raytheon Company also was the target of unusually large options trading on Friday. Stock investors acquired 671 call options on the company. This is an increase of approximately 186% compared to the average daily volume of 235 call options.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 3rd. Shareholders of record on Wednesday, July 5th will be paid a dividend of $0.7975 per share. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.96%. Raytheon Company’s dividend payout ratio is currently 39.38%.
About Raytheon Company
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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