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Raytheon Technologies (RTX) Stock Sinks As Market Gains: What You Should Know
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Raytheon Technologies (RTX - Free Report) closed at $88.88 in the latest trading session, marking a -0.71% move from the prior day. This move lagged the S&P 500's daily gain of 0.22%. Meanwhile, the Dow lost 0.13%, and the Nasdaq, a tech-heavy index, added 0.2%.
Heading into today, shares of the an aerospace and defense company had lost 0.81% over the past month, outpacing the Aerospace sector's loss of 3.93% and the S&P 500's loss of 8.32% in that time.
Wall Street will be looking for positivity from Raytheon Technologies as it approaches its next earnings report date. The company is expected to report EPS of $1.13, up 9.71% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $16.46 billion, up 3.68% from the year-ago period.
RTX's full-year Zacks Consensus Estimates are calling for earnings of $4.77 per share and revenue of $68.09 billion. These results would represent year-over-year changes of +11.71% and +5.75%, respectively.
Investors should also note any recent changes to analyst estimates for Raytheon Technologies. Recent revisions tend to reflect the latest near-term business trends. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 #3 (Hold).
Looking at its valuation, Raytheon Technologies is holding a Forward P/E ratio of 18.76. This represents a discount compared to its industry's average Forward P/E of 19.72.
Also, we should mention that RTX has a PEG ratio of 1.79. 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 industry currently had an average PEG ratio of 1.94 as of yesterday's close.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 146, putting it in the bottom 43% 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) Stock Sinks As Market Gains: What You Should Know
Raytheon Technologies (RTX - Free Report) closed at $88.88 in the latest trading session, marking a -0.71% move from the prior day. This move lagged the S&P 500's daily gain of 0.22%. Meanwhile, the Dow lost 0.13%, and the Nasdaq, a tech-heavy index, added 0.2%.
Heading into today, shares of the an aerospace and defense company had lost 0.81% over the past month, outpacing the Aerospace sector's loss of 3.93% and the S&P 500's loss of 8.32% in that time.
Wall Street will be looking for positivity from Raytheon Technologies as it approaches its next earnings report date. The company is expected to report EPS of $1.13, up 9.71% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $16.46 billion, up 3.68% from the year-ago period.
RTX's full-year Zacks Consensus Estimates are calling for earnings of $4.77 per share and revenue of $68.09 billion. These results would represent year-over-year changes of +11.71% and +5.75%, respectively.
Investors should also note any recent changes to analyst estimates for Raytheon Technologies. Recent revisions tend to reflect the latest near-term business trends. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 #3 (Hold).
Looking at its valuation, Raytheon Technologies is holding a Forward P/E ratio of 18.76. This represents a discount compared to its industry's average Forward P/E of 19.72.
Also, we should mention that RTX has a PEG ratio of 1.79. 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 industry currently had an average PEG ratio of 1.94 as of yesterday's close.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 146, putting it in the bottom 43% 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.