Raytheon's 2019 EPS Guidance Comes in Below Consensus but Cashflow Looks Solid; Shares Cheap
Wide-moat Raytheon reported fourth-quarter and full-year 2018 results that beat on EPS but came in below consensus for operating profit due to lower margins at the MS and IDS businesses. We’re maintaining our fair value estimate of $212 per share and view the name as undervalued, trading at a price to fair value ratio of about 0.80.Raytheon managed to grow fourth-quarter revenue 8.5% year over year on the back of strong performance in the SAS and in the IIS units. For the full year, consolidat...
Raytheon, together with its subsidiaries, is a technology company, focused on defense and other government markets. The company has five segments: Integrated Defense Systems, which is engaged in integrated air and missile defense; large land- and sea-based radar solutions; command, control, communications, computers, cyber and intelligence solutions; Intelligence, Information and Services, which provides technical services to intelligence, defense, federal and commercial customers; Missile Systems, which produces missile and combat systems; Space and Airborne Systems, which develops integrated sensor and communication systems for missions; and Forcepoint, which develops cybersecurity products.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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