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Raytheon Technologies (RTX) Dips More Than Broader Markets: What You Should Know
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Raytheon Technologies (RTX - Free Report) closed at $70.80 in the latest trading session, marking a -1.89% move from the prior day. This move lagged the S&P 500's daily loss of 0.44%. Meanwhile, the Dow lost 0.62%, and the Nasdaq, a tech-heavy index, added 0.5%.
Coming into today, shares of the an aerospace and defense company had gained 3.12% in the past month. In that same time, the Aerospace sector gained 5.72%, while the S&P 500 gained 1.39%.
Wall Street will be looking for positivity from RTX as it approaches its next earnings report date. The company is expected to report EPS of $0.73, down 62.37% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $16.24 billion, down 16.94% from the year-ago period.
RTX's full-year Zacks Consensus Estimates are calling for earnings of $2.97 per share and revenue of $64.28 billion. These results would represent year-over-year changes of -64.04% and -16.56%, respectively.
It is also important to note the recent changes to analyst estimates for RTX. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. RTX is holding a Zacks Rank of #4 (Sell) right now.
Valuation is also important, so investors should note that RTX has a Forward P/E ratio of 23.85 right now. Its industry sports an average Forward P/E of 37.79, so we one might conclude that RTX is trading at a discount comparatively.
Meanwhile, RTX's PEG ratio is currently 1.99. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Aerospace - Defense Equipment industry currently had an average PEG ratio of 9.58 as of yesterday's close.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 215, which puts it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow RTX in the coming trading sessions, be sure to utilize Zacks.com.
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Raytheon Technologies (RTX) Dips More Than Broader Markets: What You Should Know
Raytheon Technologies (RTX - Free Report) closed at $70.80 in the latest trading session, marking a -1.89% move from the prior day. This move lagged the S&P 500's daily loss of 0.44%. Meanwhile, the Dow lost 0.62%, and the Nasdaq, a tech-heavy index, added 0.5%.
Coming into today, shares of the an aerospace and defense company had gained 3.12% in the past month. In that same time, the Aerospace sector gained 5.72%, while the S&P 500 gained 1.39%.
Wall Street will be looking for positivity from RTX as it approaches its next earnings report date. The company is expected to report EPS of $0.73, down 62.37% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $16.24 billion, down 16.94% from the year-ago period.
RTX's full-year Zacks Consensus Estimates are calling for earnings of $2.97 per share and revenue of $64.28 billion. These results would represent year-over-year changes of -64.04% and -16.56%, respectively.
It is also important to note the recent changes to analyst estimates for RTX. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. RTX is holding a Zacks Rank of #4 (Sell) right now.
Valuation is also important, so investors should note that RTX has a Forward P/E ratio of 23.85 right now. Its industry sports an average Forward P/E of 37.79, so we one might conclude that RTX is trading at a discount comparatively.
Meanwhile, RTX's PEG ratio is currently 1.99. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Aerospace - Defense Equipment industry currently had an average PEG ratio of 9.58 as of yesterday's close.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 215, which puts it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow RTX in the coming trading sessions, be sure to utilize Zacks.com.