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Company Update (NYSE:RTN): Raytheon Standard Missile-6 successfully hits surface target

[PR Newswire] – PACIFIC MISSILE RANGE FACILITY, Hawaii, Mar. 7, 2016 /PRNewswire/ — Raytheon Company’s (NYSE: RTN) Standard Missile-6 (SM-6) successfully engaged a surface target — the decommissioned USS Reuben James … Read more on this. Raytheon Company (RTN) , with a current market cap of $37.19B, opened this morning at $124.66. During today’s session, RTN traded between $124.31 to $125.34 with a trailing 52-week range being $95.32 to $129.99. Priced at 17.76x this year’s forecasted earnings, RTN shares are relatively inexpensive compared to the industry’s 30.37x forward p/e ratio. And for dividend hunters, the company pays shareholders $2.68 per share annually in dividends, yielding 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. Investors should also note 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 based on a consensus revenue forecast of the current quarter of $5.45 Billion. If realized, that would be a 3.02% 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. Given all the information above, we should disclose to readers that the average price target is $140.19, which is 12.46% above than it opened this morning. See more in (NYSE:RTN) Similar Articles: Company Update (NYSE:RTN): Raytheon’s SeaRAM hits target with newest missile variant in US Navy live-fire test Market Update: Raytheon Co (NYSE:RTN) – Arizona Technology Council honors Raytheon Missile Systems with 2015 Pioneering Award Stock Update: Raytheon Co (NYSE:RTN) – Raytheon wins prestigious Brandon Hall award for Patriot missile battery virtual training
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