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Stock Update (NYSE:RTN): Raytheon wins $523 million Pentagon contract

[Reuters] – Raytheon Co was awarded a $523 million fixed-price-incentive contract to modernize six Patriot fire units in Kuwait, the U.S. Defense Department said on Thursday. Read more on this. Raytheon Company (RTN) , valued at $40.04B, opened this morning at $135.84. Looking at the equity, the company’s one day range is $134.09 to $135.84 with its 52-week range being $95.32 to $137.34. RTN shares are currently priced at 18.83x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 26.10x earnings multiple. And for passive income investors, the company pays shareholders $2.93 per share annually in dividends, yielding 2.18%. Consensus earnings for the current quarter by the 18 sell-side analysts covering the stock is an estimate of $1.58 per share, which would be $0.07 worse than the year-ago quarter and a $0.01 sequential decrease. The full-year EPS estimate is $7.15 which would be a $0.39 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 $141.88, which is 4.45% above than it opened this morning. See more in (NYSE:RTN) Similar Articles: Market Update (NYSE:RTN): Raytheon awarded $365 million U.S. Navy contract Stock Update: Raytheon Co (NYSE:RTN) – US Army awards Raytheon, DRS $56 million to develop next-gen infrared night vision Stock Update: Raytheon Co (NYSE:RTN) – Cost of Raytheon satellite control system rose 16 pct -Pentagon
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