Raytheon (RTN) Issues Earnings Results, Beats Expectations By $0.28 EPS

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Raytheon (NYSE:RTN) released its earnings results on Thursday, October 25th. The aerospace company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.28, MarketWatch Earnings reports. The company had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. Raytheon had a net margin of 9.33% and a return on equity of 24.43%. During the same quarter in the previous year, the company earned $1.97 EPS. Raytheon updated its FY 2018 guidance to $10.01-10.11 EPS.

Raytheon stock opened at $182.08 on Friday. Raytheon has a 1 year low of $165.00 and a 1 year high of $229.75. The stock has a market capitalization of $51.82 billion, a price-to-earnings ratio of 20.39, a P/E/G ratio of 1.36 and a beta of 0.84. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.49 and a quick ratio of 1.37.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Wednesday, January 2nd will be given a $0.8675 dividend. The ex-dividend date of this dividend is Monday, December 31st. This represents a $3.47 annualized dividend and a yield of 1.91%. Raytheon’s dividend payout ratio (DPR) is 45.54%.

RTN has been the topic of a number of research reports. Bank of America reduced their target price on shares of Raytheon from $245.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, October 26th. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $233.00 target price on the stock in a report on Wednesday, October 3rd. UBS Group started coverage on shares of Raytheon in a report on Wednesday, August 15th. They set a “buy” rating and a $250.00 price target on the stock. Stifel Nicolaus cut their price target 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, Wells Fargo & Co cut their price target on shares of Raytheon from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Friday, October 26th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $230.54.

In other news, VP Taylor W. Lawrence sold 3,299 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $199.41, for a total value of $657,853.59. Following the completion of the sale, the vice president now owns 44,220 shares of the company’s stock, valued at approximately $8,817,910.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

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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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Earnings History for Raytheon (NYSE:RTN)

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