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Stock Update (NYSE:RTN): Raytheon to offer new long-range missile for U.S. Army fires requirement

[PR Newswire] – HUNTSVILLE, Ala., March 16, 2016 /PRNewswire/ — Raytheon Company (NYSE: RTN) will offer a new missile design to meet the U.S. Army’s Long-Range Precision Fires (LRPF) requirement to replace current army … Read more on this. Raytheon Company (RTN) , valued at $36.69B, opened at $121.24. During the trading session, RTN traded between $120.51 to $123.35 with a trailing 52-week range being $95.32 to $129.99. RTN shares are currently priced at 17.33x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 10.64x earnings multiple for the same period. And for those looking to make a return holding the stock, the company pays shareholders $2.68 per share annually in dividends, yielding 2.18%. According to a consensus of 18 analysts, the earnings estimate of $1.37 per share would be $0.42 worse than the year-ago quarter and a $0.22 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $7.03 is a $0.27 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $5.45 Billion. If realized, that would be a 3.02% increase over the year-ago quarter. More recently, Argus upgraded RTN from Hold to Buy (Nov 12, 2015). Previously, JP Morgan upgraded RTN from Neutral to Overweight. Investors should keep in mind is that the average price target is $140.19, which is 15.63% above where the stock opened this morning. See more in (NYSE:RTN) Similar Articles: Market Update: Raytheon Co (NYSE:RTN) – Arizona Technology Council honors Raytheon Missile Systems with 2015 Pioneering Award Market Update: Raytheon Co (NYSE:RTN) – U.S. Army turns to Raytheon to support aircraft for foreign nations Stock Update: Raytheon Co (NYSE:RTN) – Raytheon wins prestigious Brandon Hall award for Patriot missile battery virtual training
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