Company Update (NYSE:RTN): Raytheon, U.S. Air Force successfully complete GPS OCX first qualification test

[PR Newswire] – AURORA, Colo., April 12, 2016 /PRNewswire/ — On March 4, Raytheon (RTN) successfully passed the first formal qualification test milestone for the U.S. Air Force’s Global Positioning System Next Generation Operational Control System. Known simply as GPS OCX, this new system offers significant improvements to the GPS on which the U.S. military and millions of civilians rely, including enhanced availability, accuracy, and security. The event was the Configuration Item Qualification Test, or CIQT, milestone for the Launch and Checkout System, or LCS. Read more on this. Raytheon Company (RTN) , valued at $37.53B, began trading this morning at $125.20. Today’s price range has been between $125.03 and $126.14 per share with a one year range of $95.32 to $129.99. RTN shares are currently priced at 17.77x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 4.94x forward p/e ratio. The company pays shareholders $2.93 per share annually in dividends, yielding 2.32%. In a review of the consensus earnings estimate this quarter, 19 sell-side analysts are looking at $1.37 per share, which would be $0.42 worse than the year-ago quarter and a $0.21 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $7.03 is a $0.27 improvement 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, Guggenheim Initiated RTN at Buy (Apr 5, 2016). Previously, Argus upgraded RTN from Hold to Buy. The average price target for RTN shares is $140.82, which is 12.48% above where the stock opened this morning. See more in (NYSE:RTN) Similar Articles: Company Update (NYSE:RTN): Raytheon Standard Missile-6 successfully hits surface target Market Update: Raytheon Co (NYSE:RTN) – Raytheon to complete modernization of air traffic control system throughout the National Air Space Company Update (NYSE:RTN): US Air Force, Raytheon test advanced electronic warfare weapon