Tuesday, May 14, 2013

What Does Wall Street See for Raytheon's Q1?

Raytheon (NYSE: RTN  ) is expected to report Q1 earnings on April 25. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Raytheon's revenues will shrink -4.2% and EPS will compress -3.0%.

The average estimate for revenue is $5.69 billion. On the bottom line, the average EPS estimate is $1.28.

Revenue details
Last quarter, Raytheon booked revenue of $6.44 billion. GAAP reported sales were 0.3% higher than the prior-year quarter's $6.42 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Last quarter, non-GAAP EPS came in at $1.47. GAAP EPS of $1.31 for Q4 were 11% lower than the prior-year quarter's $1.48 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
For the preceding quarter, gross margin was 20.9%, 100 basis points worse than the prior-year quarter. Operating margin was 11.6%, 200 basis points worse than the prior-year quarter. Net margin was 7.3%, 120 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $23.81 billion. The average EPS estimate is $5.32.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Raytheon is hold, with an average price target of $57.53.

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