S&P 500 (NYSE:SPY) component Raytheon Company (NYSE:RTN) will unveil its latest earnings on Thursday, July 28, 2011. Raytheon Co. provides provides electronics, mission systems integration, and other capabilities to customers in the defense, homeland security and other government markets throughout the world. The Boeing Company Second Quarter Earnings Sneak Peek>>
Raytheon Company Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for net income of $1.16 per share, a decline of 8.7% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from $1.18. Between one and three months ago, the average estimate moved down, but has risen from $1.15 during the last month. For the year, analysts are projecting profit of $4.88 per share, a decline of 12.5% from last year.
Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by 29 cents, reporting net income of $1.38 per share against a mean estimate of profit of $1.09 per share.
Wall St. Revenue Expectations: On average, analysts predict $6.19 billion in revenue this quarter, a rise of 3.7% from the year ago quarter. Analysts are forecasting total revenue of $25.94 billion for the year, a rise of 3% from last year’s revenue of $25.18 billion.
Analyst Ratings: Analysts seem relatively indifferent about Raytheon Company with 11 of 20 analysts surveyed maintaining a hold rating.
The company has now seen net income fall in each of the last two quarters. In the first quarter, net income fell 13.7% from the year earlier quarter, while the figure dropped 8.9% in the fourth quarter of the last fiscal year.
Revenue has now gone up for three straight quarters. In first quarter, revenue rose 0.1% to $6.06 billion while the figure rose 3.3% in the fourth quarter of the last fiscal year from the year earlier and 1.1% in the third quarter of the last fiscal year.
Competitors to Watch: The Boeing Company (NYSE:BA), Northrop Grumman Corp. (NYSE:NOC), General Dynamics Corp. (NYSE:GD), Lockheed Martin Corp. (NYSE:LMT), Kratos Defense & Security Solutions, Inc (NASDAQ:KTOS), ITT Corporation (NYSE:ITT), Rockwell Collins, Inc. (NYSE:COL), Honeywell Intl. Inc. (NYSE:HON), FLIR Systems, Inc. (NASDAQ:FLIR), and Alliant Techsystems Inc. (NYSE:ATK).
Stock Price Performance: During May 25, 2011 to July 22, 2011, the stock price had fallen $2.93 (-5.9%) from $49.67 to $46.74. The stock price saw one of its best stretches over the last year between December 29, 2010 and January 7, 2011 when shares rose for eight-straight days, rising 10.6% (+$4.69) over that span. It saw one of its worst periods between July 1, 2011 and July 18, 2011 when shares fell for 11-straight days, falling 9.3% (-$4.68) over that span. Shares are up $1.55 (+3.4%) year to date.
(Source: Xignite Financials)