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Raytheon Stock Price Rally Is Backed By Fundamental Aspects

researchsnappy by researchsnappy
January 20, 2020
in Investment Research
0
Raytheon Stock Price Rally Is Backed By Fundamental Aspects
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Raytheon Stock Price

Raytheon (NYSE: RTN) stock price soared to a new all-time high amid investor’s confidence in product innovation and strong backlog. RTN looks like a good play for long-term investors who like to get dividends along with a steady share price appreciation. The company offers a quarterly dividend of $0.94 per share. Its dividend yield stands around 1.7% despite massive share price gains in the past twelve months.

Raytheon stock price is trading close to $230 at present; RTN share price grew 42% in the last twelve months. RTN share price is trading around 19 times to earnings compared to the industry average of 25. The strong growth in financial numbers is offering support to valuations.

RTN Raytheon Company daily Stock Chart

Fundamentals are Supporting Raytheon Stock Price

The company’s future fundamentals are strong. This is because of its backlog and new contract wins. RTN recently received almost $3B in contracts from the U.S. Department of Defense. On the other hand, RTN has generated stronger than expected financial numbers for the third quarter. Its revenues jumped 9% year over year to $7.45B compared to the past year period.

In addition, the company has also been experiencing steady growth in margins. Its earnings per share from continuing operations grew 36% from the year-ago period.

“Higher Q3 profit margins due to timing were helpful in the quarter and across the business units, the segment margins of 12.1% exceeded our expectations,” CFO Toby O’Brien said.

Its cash returns are safe. Indeed, its financial numbers are offering a room for more dividend increases in the coming days. It has increased dividends in the past 18 consecutive years.

Outlook is Robust

The company expects to generate high single-digit growth in revenues and double-digit growth in earnings. For the full year, RTN anticipates earnings per share in the range of $11.70-$11.80, in line with analyst consensus. RTN expects a full-year revenue of $29.1B-$29.4B. Overall, Raytheon’s stock price is receiving support from several fundamental factors.

All trading carries risk. Views expressed are those of the writers only. Past performance is no guarantee of future results. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. This website is free for you to use but we may receive commission from the companies we feature on this site.

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