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Raytheon Technologies (RTX) Gains But Lags Market: What You Should Know
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Raytheon Technologies (RTX - Free Report) closed the most recent trading day at $101.71, moving +0.47% from the previous trading session. This move lagged the S&P 500's daily gain of 1.43%. Elsewhere, the Dow gained 1.02%, while the tech-heavy Nasdaq added 0.32%.
Coming into today, shares of the an aerospace and defense company had gained 9.75% in the past month. In that same time, the Aerospace sector gained 9.65%, while the S&P 500 gained 5.65%.
Raytheon Technologies will be looking to display strength as it nears its next earnings release. On that day, Raytheon Technologies is projected to report earnings of $1.03 per share, which would represent year-over-year growth of 14.44%. Our most recent consensus estimate is calling for quarterly revenue of $16.07 billion, up 5.37% from the year-ago period.
RTX's full-year Zacks Consensus Estimates are calling for earnings of $4.79 per share and revenue of $68.79 billion. These results would represent year-over-year changes of +12.18% and +6.84%, respectively.
Investors might also notice recent changes to analyst estimates for Raytheon Technologies. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Raytheon Technologies is currently a Zacks Rank #4 (Sell).
In terms of valuation, Raytheon Technologies is currently trading at a Forward P/E ratio of 21.15. This valuation marks a discount compared to its industry's average Forward P/E of 24.74.
We can also see that RTX currently has a PEG ratio of 2.07. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Aerospace - Defense Equipment was holding an average PEG ratio of 2.74 at yesterday's closing price.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 168, which puts it in the bottom 34% 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) Gains But Lags Market: What You Should Know
Raytheon Technologies (RTX - Free Report) closed the most recent trading day at $101.71, moving +0.47% from the previous trading session. This move lagged the S&P 500's daily gain of 1.43%. Elsewhere, the Dow gained 1.02%, while the tech-heavy Nasdaq added 0.32%.
Coming into today, shares of the an aerospace and defense company had gained 9.75% in the past month. In that same time, the Aerospace sector gained 9.65%, while the S&P 500 gained 5.65%.
Raytheon Technologies will be looking to display strength as it nears its next earnings release. On that day, Raytheon Technologies is projected to report earnings of $1.03 per share, which would represent year-over-year growth of 14.44%. Our most recent consensus estimate is calling for quarterly revenue of $16.07 billion, up 5.37% from the year-ago period.
RTX's full-year Zacks Consensus Estimates are calling for earnings of $4.79 per share and revenue of $68.79 billion. These results would represent year-over-year changes of +12.18% and +6.84%, respectively.
Investors might also notice recent changes to analyst estimates for Raytheon Technologies. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Raytheon Technologies is currently a Zacks Rank #4 (Sell).
In terms of valuation, Raytheon Technologies is currently trading at a Forward P/E ratio of 21.15. This valuation marks a discount compared to its industry's average Forward P/E of 24.74.
We can also see that RTX currently has a PEG ratio of 2.07. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Aerospace - Defense Equipment was holding an average PEG ratio of 2.74 at yesterday's closing price.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 168, which puts it in the bottom 34% 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.