Raytheon Company (RTN) Updates FY17 Earnings Guidance
Raytheon Company (NYSE:RTN) issued an update on its FY17 earnings guidance on Thursday morning. The company provided earnings per share guidance of $7.35-7.50 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $7.49. The company issued revenue guidance of $25.1-25.6 billion, compared to the consensus revenue estimate of $25.18 billion.
Shares of Raytheon Company (NYSE RTN) traded down 0.1643% during mid-day trading on Thursday, reaching $168.6025. 333,519 shares of the company’s stock traded hands. The company’s 50 day moving average is $164.39 and its 200-day moving average is $156.27. The firm has a market cap of $49.08 billion, a price-to-earnings ratio of 21.7215 and a beta of 0.58. Raytheon Company has a 52 week low of $132.89 and a 52 week high of $170.74.
Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.76 by $0.13. The firm had revenue of $6.28 billion during the quarter, compared to the consensus estimate of $6.24 billion. Raytheon had a net margin of 9.41% and a return on equity of 20.45%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.38 EPS. Equities analysts expect that Raytheon Company will post $7.48 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 3rd. Shareholders of record on Wednesday, July 5th will be issued a $0.7975 dividend. This represents a $3.19 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Friday, June 30th. Raytheon’s dividend payout ratio is currently 41.16%.
A number of analysts have issued reports on RTN shares. Credit Suisse Group reissued a buy rating and issued a $170.00 price objective on shares of Raytheon in a report on Friday, March 31st. Cowen and Company reissued a buy rating and issued a $170.00 price objective on shares of Raytheon in a report on Monday, April 10th. Stifel Nicolaus boosted their price objective on shares of Raytheon from $160.00 to $175.00 and gave the company a buy rating in a report on Friday, April 28th. Deutsche Bank AG boosted their price objective on shares of Raytheon from $156.00 to $160.00 and gave the company a hold rating in a report on Friday, April 28th. Finally, Zacks Investment Research raised shares of Raytheon from a hold rating to a buy rating and set a $175.00 price objective for the company in a report on Monday, May 1st. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $168.45.
In other Raytheon news, VP Taylor W. Lawrence sold 2,756 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $162.04, for a total value of $446,582.24. Following the completion of the transaction, the vice president now directly owns 53,285 shares in the company, valued at approximately $8,634,301.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Wesley D. Kremer sold 1,010 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $163.10, for a total transaction of $164,731.00. Following the completion of the transaction, the vice president now owns 23,136 shares of the company’s stock, valued at $3,773,481.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,911 shares of company stock valued at $2,580,752. 0.19% of the stock is owned by corporate insiders.
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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