$2.08 Earnings Per Share Expected for Raytheon (RTN) This Quarter

Brokerages expect Raytheon (NYSE:RTN) to announce earnings of $2.08 per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Raytheon’s earnings, with the lowest EPS estimate coming in at $2.00 and the highest estimate coming in at $2.26. Raytheon reported earnings of $1.73 per share in the same quarter last year, which indicates a positive year over year growth rate of 20.2%. The business is scheduled to issue its next earnings results on Thursday, April 26th.

According to Zacks, analysts expect that Raytheon will report full-year earnings of $9.64 per share for the current financial year, with EPS estimates ranging from $9.44 to $9.75. For the next year, analysts forecast that the company will post earnings of $11.07 per share, with EPS estimates ranging from $10.75 to $11.30. Zacks’ EPS averages are an average based on a survey of analysts that cover Raytheon.

Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, January 25th. The aerospace company reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.01. Raytheon had a net margin of 7.98% and a return on equity of 21.36%. The company had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter in the prior year, the company posted $1.84 EPS. The business’s revenue was up 8.0% on a year-over-year basis.

RTN has been the topic of a number of research analyst reports. Bank of America set a $220.00 price objective on shares of Raytheon and gave the stock a “buy” rating in a report on Friday, October 27th. Citigroup reissued a “buy” rating and issued a $215.00 target price (up previously from $192.00) on shares of Raytheon in a research report on Monday, October 9th. Royal Bank of Canada set a $225.00 target price on shares of Raytheon and gave the company a “buy” rating in a research report on Thursday, November 16th. Buckingham Research boosted their target price on shares of Raytheon from $199.00 to $204.00 and gave the company a “buy” rating in a research report on Tuesday, October 31st. Finally, Wells Fargo & Co reduced their target price on shares of Raytheon from $200.00 to $195.00 and set an “outperform” rating for the company in a research report on Friday, October 27th. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Raytheon has a consensus rating of “Buy” and an average price target of $210.77.

In other Raytheon news, VP Frank R. Jimenez sold 175 shares of the business’s stock in a transaction dated Saturday, December 29th. The stock was sold at an average price of $189.13, for a total transaction of $33,097.75. Following the completion of the transaction, the vice president now owns 28,311 shares of the company’s stock, valued at $5,354,459.43. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Frank R. Jimenez sold 3,405 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $210.93, for a total value of $718,216.65. Following the transaction, the vice president now directly owns 25,342 shares of the company’s stock, valued at approximately $5,345,388.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,274 shares of company stock valued at $1,486,162. 0.19% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of RTN. State of Tennessee Treasury Department boosted its stake in Raytheon by 4.1% during the second quarter. State of Tennessee Treasury Department now owns 293,058 shares of the aerospace company’s stock valued at $47,323,000 after buying an additional 11,461 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its position in shares of Raytheon by 9.5% during the second quarter. Thompson Siegel & Walmsley LLC now owns 6,349 shares of the aerospace company’s stock worth $1,025,000 after acquiring an additional 551 shares during the period. Hosking Partners LLP increased its position in shares of Raytheon by 2.1% during the second quarter. Hosking Partners LLP now owns 68,912 shares of the aerospace company’s stock worth $11,128,000 after acquiring an additional 1,440 shares during the period. Bradley Foster & Sargent Inc. CT increased its position in shares of Raytheon by 1.0% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 148,661 shares of the aerospace company’s stock worth $24,006,000 after acquiring an additional 1,408 shares during the period. Finally, Flagship Harbor Advisors LLC increased its position in shares of Raytheon by 1.7% during the second quarter. Flagship Harbor Advisors LLC now owns 2,167 shares of the aerospace company’s stock worth $361,000 after acquiring an additional 37 shares during the period. 73.40% of the stock is owned by hedge funds and other institutional investors.

Shares of Raytheon (NYSE:RTN) traded down $0.95 during trading hours on Friday, reaching $209.90. 822,491 shares of the company’s stock were exchanged, compared to its average volume of 1,608,059. Raytheon has a 12-month low of $146.23 and a 12-month high of $213.45. The company has a current ratio of 1.54, a quick ratio of 1.46 and a debt-to-equity ratio of 0.48. The company has a market cap of $60,600.00, a price-to-earnings ratio of 30.21, a P/E/G ratio of 1.98 and a beta of 0.76.

The business also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Wednesday, January 3rd were paid a $0.7975 dividend. This represents a $3.19 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend was Tuesday, January 2nd. Raytheon’s dividend payout ratio (DPR) is presently 45.97%.

Raytheon declared that its board has approved a share buyback plan on Wednesday, November 15th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the aerospace company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are 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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