Market Update: Raytheon Co (NYSE:RTN) – Raytheon sees higher sales, profit in 2016; 4th-qtr profit tops view

[Reuters] – Raytheon Co on Thursday reported better-than-expected fourth-quarter profit and forecast higher results for 2016, citing increasing demand from the Middle East, Asia and Europe for precision missiles and missile defense. Chief Executive Officer Tom Kennedy told analysts that lower oil prices were not hurting demand from the Middle East, and several countries were looking to upgrade existing Patriot missile defense systems. Revenues should rise 3 percent to 5 percent this year, up from an earlier forecast of 3 percent to 4 percent, Chief Financial Officer Toby O’Brien said. Read more on this. Raytheon Company (RTN) , valued at $36.32B, started the session at $119.35. Looking at the equity, the company’s one day range is $118.50 to $121.17 with its 52-week range being $95.32 to $129.99. Priced at 17.65x this year’s forecasted earnings, RTN shares are relatively inexpensive compared to the industry ’s 42.78x forward p/e ratio. And for passive income investors, the company pays shareholders $2.68 per share annually in dividends, yielding 2.26%. According to a consensus of 18 analysts, the earnings estimate of $1.81 per share would be $0.05 worse than the year-ago quarter and a $0.03 sequential increase. The full-year EPS estimate is $6.71 which would be a $0.26 setback than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $6.30 Billion. If realized, that would be a 2.61% increase over the year-ago quarter. Recently, Argus upgraded RTN from Hold to Buy (Nov 12, 2015). Previously, JP Morgan upgraded RTN from Neutral to Overweight. The average price target for RTN shares is $136.63, which is 14.48% above where the stock opened this morning. See more in (NYSE:RTN) Similar Articles: Stock Update (NYSE:RTN): Raytheon Company to release 2015 fourth quarter and full-year results on Jan. 28, 2016 Market Update: Raytheon Co (NYSE:RTN) – Arizona Technology Council honors Raytheon Missile Systems with 2015 Pioneering Award Market Update: Raytheon Co (NYSE:RTN) – Raytheon CFO forecasts strong sales growth in 2016
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