Raytheon (RTN) Expected to Announce Quarterly Sales of $6.83 Billion

Wall Street analysts forecast that Raytheon (NYSE:RTN) will post $6.83 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Raytheon’s earnings. The lowest sales estimate is $6.77 billion and the highest is $6.92 billion. Raytheon reported sales of $6.24 billion during the same quarter last year, which indicates a positive year over year growth rate of 9.5%. The company is expected to announce its next quarterly earnings report before the market opens on Thursday, January 25th.

According to Zacks, analysts expect that Raytheon will report full-year sales of $6.83 billion for the current fiscal year, with estimates ranging from $25.34 billion to $25.51 billion. For the next year, analysts forecast that the firm will post sales of $26.65 billion per share, with estimates ranging from $26.43 billion to $26.85 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Raytheon.

Raytheon (NYSE:RTN) last released its quarterly earnings data on Thursday, October 26th. The aerospace company reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.07. Raytheon had a net margin of 8.77% and a return on equity of 20.98%. The company had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.33 billion. During the same quarter in the previous year, the company earned $1.79 earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis.

A number of research analysts have weighed in on RTN shares. Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $205.00 price objective for the company in a report on Wednesday, September 20th. Cowen reaffirmed a “buy” rating and issued a $203.00 price objective on shares of Raytheon in a report on Thursday, October 26th. Robert W. Baird reaffirmed a “buy” rating and issued a $212.00 price objective on shares of Raytheon in a report on Tuesday, October 24th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $209.00 price objective on shares of Raytheon in a report on Tuesday, October 10th. Finally, Citigroup reaffirmed a “buy” rating and issued a $215.00 price objective (up previously from $192.00) on shares of Raytheon in a report on Monday, October 9th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $204.12.

Raytheon (NYSE:RTN) opened at $196.99 on Thursday. Raytheon has a fifty-two week low of $141.28 and a fifty-two week high of $199.75. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.66 and a quick ratio of 1.55. The firm has a market cap of $56,950.00, a price-to-earnings ratio of 26.51, a price-to-earnings-growth ratio of 2.73 and a beta of 0.58.

Raytheon announced that its Board of Directors has initiated a stock buyback plan on Wednesday, November 15th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 3rd will be given a $0.7975 dividend. The ex-dividend date is Tuesday, January 2nd. This represents a $3.19 annualized dividend and a dividend yield of 1.62%. Raytheon’s dividend payout ratio (DPR) is 42.93%.

In related news, VP Frank R. Jimenez sold 175 shares of the business’s stock in a transaction dated Saturday, December 29th. The shares were sold at an average price of $189.13, for a total transaction of $33,097.75. Following the transaction, the vice president now directly owns 28,311 shares in the company, valued at $5,354,459.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen J. Hadley sold 800 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $190.27, for a total transaction of $152,216.00. Following the transaction, the director now owns 11,360 shares in the company, valued at $2,161,467.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,895 shares of company stock worth $357,215. Company insiders own 0.19% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Signature Estate & Investment Advisors LLC acquired a new position in Raytheon during the third quarter worth about $103,000. Stonehearth Capital Management LLC acquired a new position in Raytheon during the fourth quarter worth about $103,000. Rowland & Co. Investment Counsel ADV acquired a new position in Raytheon during the fourth quarter worth about $106,000. Jacobi Capital Management LLC boosted its position in Raytheon by 5.3% during the second quarter. Jacobi Capital Management LLC now owns 797 shares of the aerospace company’s stock worth $132,000 after acquiring an additional 40 shares during the last quarter. Finally, Invictus RG acquired a new position in Raytheon during the third quarter worth about $152,000. Hedge funds and other institutional investors own 73.26% of the company’s stock.

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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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