Today's stock selection:
RTN
Reference:
http://www.zacks.com/rank/zcommentary/?id=7743
Raytheon Co. ( RTN ) announced first-quarter results in late April. Bookings were strong at $6.5 billion and backlog was a record $37.7 billion. Earnings per share of 93 cents beat the consensus estimate by 12% and outpaced the year-prior result. Raytheon’s ROE of 13% reflects growth and is almost double the industry average of 7%. The annual dividend was hiked by 10% from $1.02 per share to $1.12. The quarterly cash dividend of 28 cents per share currently translates into dividend yield of 1.8%, which is above the industry average of 0.1%.
Growth
Raytheon announced first-quarter results in late April. Bookings were strong at $6.5 billion and backlog was a record $37.7 billion.
First-quarter earnings per share of 93 cents beat the consensus estimate by 12% and outpaced the year-prior result. The company noted that the higher earnings can be primarily attributed to increased volume, combined with lower net interest and pension expense.
"With the strong performance in the first quarter, the Company is off to a good start," said William H. Swanson, Raytheon's Chairman and CEO. "Our strong bookings, record backlog and solid operating performance demonstrate the Company is continuing to execute and is well positioned going forward."
Quarterly net sales reached $5.4 billion, reflecting an increase of 11% from the year-prior $4.8 billion.
Wall Street boosted earnings forecasts. Current full-year 2008 projections of $3.90 per share moved up from the two months-ago level of $3.87 per share.
http://astuk-virtuallystocks.blogspot.com/
$63.74 (06/02/08)
