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Raytheon Technologies (RTX) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Raytheon Technologies (RTX - Free Report) closed at $102.43, marking a +0.71% move from the previous day. This move outpaced the S&P 500's daily gain of 0.51%. Elsewhere, the Dow gained 0.44%, while the tech-heavy Nasdaq added 0.1%.
Heading into today, shares of the an aerospace and defense company had gained 7.92% over the past month, lagging the Aerospace sector's gain of 8.44% and outpacing the S&P 500's gain of 5.51% in that time.
Wall Street will be looking for positivity from Raytheon Technologies as it approaches its next earnings report date. 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.79 per share and revenue of $68.79 billion, which would represent changes of +12.18% and +6.84%, respectively, from the prior year.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection remained stagnant. Raytheon Technologies is currently sporting a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Raytheon Technologies has a Forward P/E ratio of 21.25 right now. This represents a discount compared to its industry's average Forward P/E of 25.
Investors should also note that RTX has a PEG ratio of 2.08 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Aerospace - Defense Equipment industry currently had an average PEG ratio of 2.82 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 171, which puts it in the bottom 33% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Raytheon Technologies (RTX) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Raytheon Technologies (RTX - Free Report) closed at $102.43, marking a +0.71% move from the previous day. This move outpaced the S&P 500's daily gain of 0.51%. Elsewhere, the Dow gained 0.44%, while the tech-heavy Nasdaq added 0.1%.
Heading into today, shares of the an aerospace and defense company had gained 7.92% over the past month, lagging the Aerospace sector's gain of 8.44% and outpacing the S&P 500's gain of 5.51% in that time.
Wall Street will be looking for positivity from Raytheon Technologies as it approaches its next earnings report date. 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.79 per share and revenue of $68.79 billion, which would represent changes of +12.18% and +6.84%, respectively, from the prior year.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection remained stagnant. Raytheon Technologies is currently sporting a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Raytheon Technologies has a Forward P/E ratio of 21.25 right now. This represents a discount compared to its industry's average Forward P/E of 25.
Investors should also note that RTX has a PEG ratio of 2.08 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Aerospace - Defense Equipment industry currently had an average PEG ratio of 2.82 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 171, which puts it in the bottom 33% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.