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Stock Update (NYSE:RTN): The U.S. Navy awards Raytheon $1B Next Generation Jammer Engineering and Manufacturing Development contract

[PR Newswire] – EL SEGUNDO, Calif., April 14, 2016 /PRNewswire/ — The U.S. Navy awarded Raytheon Company (NYSE: RTN) a $1 billion sole source contract for Engineering and Manufacturing Development (EMD) for Increment … Read more on this. Raytheon Company (RTN) , with a current value of $37.53B, finished yesterday at $125.54. Looking at the stock, its one day range is $125.48 to $126.00 and has traded between $95.32 and $129.99 over the past 12 months. Raytheon (RTN) shares are currently priced at 17.86x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 5.93x earnings multiple for the same period. And for dividend hunters, the company pays shareholders $2.93 per share annually in dividends, yielding 2.34%. Consensus earnings for the current quarter by the 19 sell-side analysts covering the stock is an estimate of $1.37 per share, which would be $0.42 worse than the year-ago quarter and a $0.22 sequential decrease. The full-year EPS estimate is $7.03 which would be a $0.27 better than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $5.45 Billion. If reported, that would be a 3.02% increase over the year-ago quarter. In terms of ratings, Guggenheim Initiated RTN at Buy (Apr 5, 2016). Previously, Argus upgraded RTN from Hold to Buy. The average price target for RTN shares by the analysts covering the stock is $140.82, which is 12.17% above where the stock opened this morning. See more in (NYSE:RTN) Similar Articles: Stock Update: Raytheon Co (NYSE:RTN) – US Army awards Raytheon, DRS $56 million to develop next-gen infrared night vision Market Update: Raytheon Co (NYSE:RTN) – Raytheon, Boys & Girls Clubs of America inspire more girls to study engineering Company Update: Raytheon Co (NYSE:RTN) – U.S. Navy awards Raytheon $159 million for Phalanx production
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