$6.67 Billion in Sales Expected for Raytheon (RTN) This Quarter

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Equities research analysts predict that Raytheon (NYSE:RTN) will report sales of $6.67 billion for the current quarter, according to Zacks. Five analysts have made estimates for Raytheon’s earnings, with the highest sales estimate coming in at $6.70 billion and the lowest estimate coming in at $6.64 billion. Raytheon reported sales of $6.28 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.2%. The firm is expected to announce its next earnings report before the market opens on Thursday, October 25th.

On average, analysts expect that Raytheon will report full year sales of $26.95 billion for the current year, with estimates ranging from $26.86 billion to $27.09 billion. For the next financial year, analysts expect that the business will post sales of $28.26 billion, with estimates ranging from $27.94 billion to $28.42 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Raytheon.

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

A number of analysts have recently issued reports on RTN shares. Zacks Investment Research downgraded shares of Raytheon from a “buy” rating to a “hold” rating in a report on Wednesday, June 27th. Morgan Stanley lowered their price objective on shares of Raytheon from $239.00 to $228.00 and set an “overweight” rating on the stock in a report on Thursday, July 12th. Stifel Nicolaus lowered their price objective on shares of Raytheon from $235.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, July 27th. Finally, UBS Group started coverage on shares of Raytheon in a report on Wednesday, August 15th. They issued a “buy” rating and a $250.00 price objective on the stock. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $228.43.

In related news, VP Taylor W. Lawrence sold 3,299 shares of the business’s stock in a transaction 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 transaction, the vice president now directly owns 44,220 shares in the company, valued at $8,817,910.20. The sale was disclosed in a filing with the SEC, which is available through this link. 0.19% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Oakbrook Investments LLC boosted its position in Raytheon by 100.3% during the third quarter. Oakbrook Investments LLC now owns 23,909 shares of the aerospace company’s stock worth $4,941,000 after purchasing an additional 11,970 shares during the period. Bowling Portfolio Management LLC boosted its position in Raytheon by 163.6% during the third quarter. Bowling Portfolio Management LLC now owns 30,924 shares of the aerospace company’s stock worth $6,391,000 after purchasing an additional 19,191 shares during the period. Aperio Group LLC boosted its position in Raytheon by 2.1% during the third quarter. Aperio Group LLC now owns 310,876 shares of the aerospace company’s stock worth $64,246,000 after purchasing an additional 6,416 shares during the period. Davis R M Inc. boosted its position in Raytheon by 32.0% during the third quarter. Davis R M Inc. now owns 1,526 shares of the aerospace company’s stock worth $315,000 after purchasing an additional 370 shares during the period. Finally, Patten & Patten Inc. TN boosted its position in Raytheon by 1.8% during the third quarter. Patten & Patten Inc. TN now owns 76,659 shares of the aerospace company’s stock worth $15,842,000 after purchasing an additional 1,331 shares during the period. Institutional investors and hedge funds own 72.85% of the company’s stock.

NYSE RTN opened at $191.66 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.51 and a current ratio of 1.61. Raytheon has a 12-month low of $179.29 and a 12-month high of $229.75. The company has a market capitalization of $58.95 billion, a PE ratio of 25.15, a price-to-earnings-growth ratio of 1.58 and a beta of 0.68.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 8th. Investors of record on Wednesday, October 10th will be issued a dividend of $0.8675 per share. The ex-dividend date of this dividend is Tuesday, October 9th. This represents a $3.47 dividend on an annualized basis and a yield of 1.81%. Raytheon’s payout ratio is 45.54%.

Raytheon Company Profile

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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