Zacks: Brokerages Anticipate Raytheon (RTN) Will Announce Quarterly Sales of $6.58 Billion

Wall Street analysts forecast that Raytheon (NYSE:RTN) will report $6.58 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Raytheon’s earnings. The highest sales estimate is $6.67 billion and the lowest is $6.54 billion. Raytheon reported sales of $6.27 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 4.9%. The firm is scheduled to report its next earnings results before the market opens on Thursday, April 25th.

According to Zacks, analysts expect that Raytheon will report full year sales of $28.84 billion for the current year, with estimates ranging from $28.60 billion to $29.11 billion. For the next fiscal year, analysts anticipate that the business will report sales of $30.77 billion, with estimates ranging from $30.52 billion to $31.32 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Raytheon.

Raytheon (NYSE:RTN) last released its quarterly earnings data on Thursday, January 31st. The aerospace company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.89 by $0.04. The company had revenue of $7.36 billion for the quarter, compared to the consensus estimate of $7.50 billion. Raytheon had a return on equity of 25.81% and a net margin of 10.75%. During the same period last year, the business posted $2.03 EPS.

A number of research analysts have recently issued reports on the company. Zacks Investment Research upgraded Raytheon from a “hold” rating to a “buy” rating and set a $205.00 price target on the stock in a report on Wednesday, April 17th. UBS Group downgraded Raytheon from a “buy” rating to a “neutral” rating and cut their price target for the company from $220.00 to $200.00 in a report on Wednesday, April 3rd. ValuEngine upgraded Raytheon from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. Susquehanna Bancshares assumed coverage on Raytheon in a report on Thursday, January 10th. They issued a “positive” rating and a $187.00 price target on the stock. Finally, Argus reiterated a “buy” rating and issued a $200.00 price target on shares of Raytheon in a report on Friday, February 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $210.33.

In related news, VP Michael J. Wood sold 427 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $177.58, for a total transaction of $75,826.66. Following the transaction, the vice president now directly owns 13,165 shares in the company, valued at approximately $2,337,840.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Michael J. Wood sold 3,501 shares of the business’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $183.86, for a total value of $643,693.86. Following the transaction, the chief accounting officer now owns 19,217 shares in the company, valued at $3,533,237.62. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,657 shares of company stock worth $3,940,619. 0.18% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund lifted its position in Raytheon by 8,792.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,674,238 shares of the aerospace company’s stock worth $63,000 after acquiring an additional 9,565,442 shares during the period. Norges Bank acquired a new stake in Raytheon during the 4th quarter worth about $439,572,000. Standard Life Aberdeen plc lifted its position in Raytheon by 64.9% during the 3rd quarter. Standard Life Aberdeen plc now owns 1,950,068 shares of the aerospace company’s stock worth $403,010,000 after acquiring an additional 767,198 shares during the period. Millennium Management LLC lifted its position in Raytheon by 237.8% during the 4th quarter. Millennium Management LLC now owns 1,004,199 shares of the aerospace company’s stock worth $153,994,000 after acquiring an additional 706,918 shares during the period. Finally, Pendal Group Ltd lifted its position in Raytheon by 1,423.0% during the 4th quarter. Pendal Group Ltd now owns 736,834 shares of the aerospace company’s stock worth $100,947,000 after acquiring an additional 688,455 shares during the period. Hedge funds and other institutional investors own 75.81% of the company’s stock.

RTN opened at $182.50 on Tuesday. Raytheon has a 52 week low of $144.27 and a 52 week high of $229.75. The firm has a market cap of $51.51 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 1.39 and a beta of 0.99. The company has a current ratio of 1.46, a quick ratio of 1.37 and a debt-to-equity ratio of 0.41.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Wednesday, April 10th will be paid a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a yield of 2.07%. This is an increase from Raytheon’s previous quarterly dividend of $0.87. The ex-dividend date is Tuesday, April 9th. Raytheon’s payout ratio is 35.53%.

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 and Estimates for Raytheon (NYSE:RTN)

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