Company Update (NYSE:RTN): Pentagon to review Raytheon GPS control system again in 3 months

[Reuters] – The U.S. Defense Department on Wednesday said it would conduct another comprehensive review of Raytheon Co’s long-delayed ground control system for next generation GPS satellites in about three months, … Read more on this. Raytheon Company (RTN) , with a current value of $36.63B, opened this morning at $123.62. During the trading session, RTN traded between $122.41 to $123.78 with a trailing 52-week range being $95.32 to $129.99. RTN shares are currently priced at 17.40x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 30.25x earnings multiple. The company pays shareholders $2.68 per share in dividend income per year, for a current yield of 2.14%. Consensus earnings for the current quarter by the 18 sell-side analysts covering the stock is an estimate of $1.39 per share, which would be $0.40 worse than the year-ago quarter and a $0.20 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $7.04 is a $0.28 better when compared to the previous year’s annual results. 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. More recently, Argus upgraded RTN from Hold to Buy (Nov 12, 2015). Previously, JP Morgan upgraded RTN from Neutral to Overweight. Given all the information above, we should disclose to readers that the average price target is $140.19, which is 13.40% above than it opened this morning. See more in (NYSE:RTN) Similar Articles: Market Update: Raytheon Co (NYSE:RTN) – Raytheon partners with Totara Learning to offer flexible, innovative learning management technology and services Company Update: Raytheon Co (NYSE:RTN) – Raytheon marks 20 years of Cooperative Engagement Capability deployment Company Update: Raytheon Co (NYSE:RTN) – Raytheon recognizes 25 teachers for excellence in math and science