Equities research analysts expect Raytheon (NYSE:RTN) to report earnings of $2.08 per share for the current quarter, according to Zacks. Five analysts have made estimates for Raytheon’s earnings, with the lowest EPS estimate coming in at $2.00 and the highest estimate coming in at $2.29. Raytheon posted earnings per share of $1.73 during the same quarter last year, which indicates a positive year-over-year growth rate of 20.2%. The business is expected to issue its next quarterly earnings results on Thursday, April 26th.
On average, analysts expect that Raytheon will report full-year earnings of $9.66 per share for the current year, with EPS estimates ranging from $9.60 to $9.75. For the next financial year, analysts expect that the company will report earnings of $11.14 per share, with EPS estimates ranging from $10.75 to $11.68. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that that provide coverage for Raytheon.
Raytheon (NYSE:RTN) last posted its earnings results on Thursday, January 25th. The aerospace company reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.01. The company had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.81 billion. Raytheon had a net margin of 7.98% and a return on equity of 21.36%. Raytheon’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.84 EPS.
Raytheon (RTN) traded up $0.58 during midday trading on Thursday, hitting $210.62. 2,140,000 shares of the stock were exchanged, compared to its average volume of 1,880,000. Raytheon has a one year low of $148.65 and a one year high of $222.82. 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 firm has a market cap of $60,770.00, a PE ratio of 27.97, a PEG ratio of 2.03 and a beta of 0.71.
Raytheon declared that its board has approved a stock repurchase plan on Wednesday, November 15th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
In other Raytheon news, Director Letitia A. Long sold 650 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $185.83, for a total value of $120,789.50. Following the transaction, the director now directly owns 2,273 shares of the company’s stock, valued at approximately $422,391.59. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Thomas A. Kennedy sold 44,778 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $215.90, for a total transaction of $9,667,570.20. Following the completion of the transaction, the chairman now directly owns 138,339 shares in the company, valued at $29,867,390.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,400 shares of company stock worth $17,052,714. Insiders own 0.19% of the company’s stock.
Several institutional investors have recently made changes to their positions in RTN. Financial Advisory Service Inc. grew its holdings in shares of Raytheon by 43.0% during the 3rd quarter. Financial Advisory Service Inc. now owns 2,171 shares of the aerospace company’s stock valued at $405,000 after purchasing an additional 653 shares during the last quarter. Foster & Motley Inc. grew its holdings in shares of Raytheon by 26.1% during the 3rd quarter. Foster & Motley Inc. now owns 1,751 shares of the aerospace company’s stock valued at $327,000 after purchasing an additional 362 shares during the last quarter. Douglas Lane & Associates LLC bought a new stake in shares of Raytheon during the 3rd quarter valued at approximately $334,000. Barometer Capital Management Inc. grew its holdings in shares of Raytheon by 8.6% during the 3rd quarter. Barometer Capital Management Inc. now owns 193,620 shares of the aerospace company’s stock valued at $36,126,000 after purchasing an additional 15,410 shares during the last quarter. Finally, APG Asset Management N.V. grew its holdings in shares of Raytheon by 36.5% during the 3rd quarter. APG Asset Management N.V. now owns 1,427,712 shares of the aerospace company’s stock valued at $266,383,000 after purchasing an additional 381,913 shares during the last quarter. 73.51% of the stock is currently owned by institutional investors.
COPYRIGHT VIOLATION WARNING: This article was first published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this article on another site, it was stolen and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this article can be viewed at https://sportsperspectives.com/2018/03/13/2-08-earnings-per-share-expected-for-raytheon-rtn-this-quarter.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Raytheon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon and related companies with MarketBeat.com's FREE daily email newsletter.