Zacks: Brokerages Anticipate Raytheon Company (RTN) Will Announce Quarterly Sales of $6.33 Billion
Equities analysts expect that Raytheon Company (NYSE:RTN) will report sales of $6.33 billion for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Raytheon’s earnings. The lowest sales estimate is $6.29 billion and the highest is $6.37 billion. Raytheon posted sales of $6.03 billion during the same quarter last year, which suggests a positive year over year growth rate of 5%. The company is scheduled to report its next earnings report on Thursday, October 26th.
On average, analysts expect that Raytheon will report full-year sales of $6.33 billion for the current year, with estimates ranging from $25.27 billion to $25.57 billion. For the next year, analysts anticipate that the business will report sales of $26.37 billion per share, with estimates ranging from $26.07 billion to $26.78 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Raytheon.
Raytheon (NYSE:RTN) last released its quarterly earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.15. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The business had revenue of $6.28 billion for the quarter, compared to analyst estimates of $6.24 billion. During the same quarter in the previous year, the business earned $2.38 earnings per share. The firm’s revenue was up 4.2% compared to the same quarter last year.
A number of analysts recently weighed in on the stock. BidaskClub upgraded shares of Raytheon from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 12th. Buckingham Research increased their price target on shares of Raytheon from $190.00 to $199.00 and gave the company a “buy” rating in a research report on Friday, August 11th. Jefferies Group LLC reiterated a “buy” rating and issued a $172.00 price target on shares of Raytheon in a research report on Monday, June 26th. Royal Bank Of Canada set a $193.00 price target on shares of Raytheon and gave the company a “buy” rating in a research report on Monday, August 28th. Finally, Vetr upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $167.16 price target on the stock in a research report on Monday, May 22nd. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $184.67.
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Shares of Raytheon (NYSE RTN) opened at 182.72 on Tuesday. Raytheon has a 12-month low of $132.89 and a 12-month high of $184.17. The stock’s 50 day moving average is $176.83 and its 200-day moving average is $162.98. The firm has a market cap of $53.03 billion, a price-to-earnings ratio of 25.24 and a beta of 0.58.
In related news, Director Robert E. Beauchamp bought 1,162 shares of the company’s stock in a transaction on Monday, July 31st. The shares were purchased at an average cost of $171.99 per share, for a total transaction of $199,852.38. Following the acquisition, the director now owns 4,303 shares of the company’s stock, valued at approximately $740,072.97. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Vernon E. Clark sold 829 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $180.19, for a total transaction of $149,377.51. Following the sale, the director now owns 7,588 shares in the company, valued at $1,367,281.72. The disclosure for this sale can be found here. Insiders have sold a total of 5,120 shares of company stock worth $930,651 over the last 90 days. Corporate insiders own 0.19% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. St. Johns Investment Management Company LLC bought a new position in shares of Raytheon during the 2nd quarter worth approximately $113,000. Signature Estate & Investment Advisors LLC bought a new position in shares of Raytheon during the 1st quarter worth approximately $111,000. Jacobi Capital Management LLC grew its stake in shares of Raytheon by 271.1% during the 1st quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock worth $114,000 after acquiring an additional 553 shares in the last quarter. Tarbox Family Office Inc. grew its stake in shares of Raytheon by 1,666.7% during the 2nd quarter. Tarbox Family Office Inc. now owns 795 shares of the aerospace company’s stock worth $128,000 after acquiring an additional 750 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. bought a new position in shares of Raytheon during the 2nd quarter worth approximately $139,000. 73.82% of the stock is owned by institutional investors.
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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