Raytheon Company (RTN) continues to boast a Zacks #1 Rank (“strong buy”). The company has seen analysts hike estimates as they forecast year-over-year earnings growth of 22% for 2008.
Company Description
Raytheon Company is the one of the largest aerospace and defense companies in the
U.S., with a well-diversified line of military products, including missiles, radars, sensors, surveillance and
reconnaissance equipment, communication and information systems, naval systems, air traffic control
systems, and technical services.
Raytheon offers investors strong order bookings and
order backlog, double-digit organic growth, an
improving balance sheet, growing cash flow, above
industry average ROE, and one of the highest dividend yields in the industry.
Solid Quarterly Growth
The Zacks #1 Rank (“strong buy”) recently released third-quarter results. Earnings per share of $1.01 eclipsed the year-prior 86 cents and exceeded the consensus estimate by 5%. The company cited operational improvements and lower pension expense as contributors to the higher earnings. Net sales of $5.9 billion jumped 12% year-over-year.
Higher Estimates
Raytheon has seen analysts hike estimates as they forecast year-over-year earnings growth of 22% for 2008. 10 out of 13 covering analysts boosted full-year 2008 earnings estimates to $4.03 per share from last month’s $3.99. For the following year, 12 out of 13 analysts hiked expectations to $4.67 per share from $4.44.
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