Company Update (NYSE:RTN): Raytheon’s SeaRAM hits target with newest missile variant in US Navy live-fire test

[PR Newswire] – TUCSON, Ariz., Jan. 11, 2016 /PRNewswire/ — Raytheon Company’s (NYSE: RTN) SeaRAM® anti-ship missile defense system used a Rolling Airframe Missile Block 2 for the first time to intercept an incoming … Read more on this. Raytheon Company (RTN) , valued at $37.19B, opened at $122.50. Looking at today’s trading action, the company’s one day range from $121.66 to $124.06 with a trailing 52-week range being $95.32 to $129.99. Priced at 18.20x this year’s forecasted earnings, RTN shares are relatively expensive compared to the industry’s 2.16x forward p/e ratio. The company pays shareholders $2.68 per share annually in dividends, yielding 2.15%. Consensus earnings for the current quarter by the 18 sell-side analysts covering the stock is an estimate of $1.79 per share, which would be $0.07 worse than the year-ago quarter and a $0.01 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $6.69 is a $0.28 worse 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 $6.29 Billion. If realized, that would be a 2.44% increase over the year-ago quarter. In terms of ratings, 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 $136.25, which is 11.22% above where the stock opened this morning. See more in (NYSE:RTN) Similar Articles: Company Update (NYSE:RTN): US Air Force, Raytheon test advanced electronic warfare weapon Company Update: Raytheon Co (NYSE:RTN) – New software flies high as US Navy, Raytheon complete Tomahawk flight test Company Update (NYSE:RTN): Missile Defense Agency, Raytheon demonstrate SM-6’s new anti-ballistic missile defense capability