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Market Update (NYSE:RTN): Raytheon awarded $365 million U.S. Navy contract

[PR Newswire] – TEWKSBURY, Mass., June 3, 2016 /PRNewswire/ — Raytheon Company (NYSE: RTN) has been awarded a $365,848,801 fixed-price-incentive, cost-plus-fixed-fee contract for the production of Aegis Weapon System … Read more on this. Raytheon Company (RTN) , with a current market cap of $39.53B, started trading this morning at $132.14. Looking at the equity, the company’s one day range is $131.76 to $133.48 with a trailing 52-week range being $95.32 to $133.48. RTN shares are currently priced at 18.24x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 24.92x earnings multiple for the same period. And for dividend hunters, the company pays shareholders $2.93 per share annually in dividends, yielding 2.26%. According to a consensus of 19 analysts, the earnings estimate of $1.57 per share would be $0.08 worse than the year-ago quarter and a $0.03 sequential decrease. The full-year EPS estimate is $7.14 which would be a $0.38 improvement than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $5.83 Billion. If reported, that would be a 0.34% decrease 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. Given all the information above, we should disclose to readers that the average price target is $141.76, which is 7.28% above than it opened this morning. See more in (NYSE:RTN) Similar Articles: Stock Update (NYSE:RTN): U.S. Navy awards Raytheon up to $104 million for long-range radar operations Stock Update (NYSE:RTN): The U.S. Navy awards Raytheon $1B Next Generation Jammer Engineering and Manufacturing Development contract Company Update (NYSE:RTN): Raytheon awarded $255 million for DDG 1002
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