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Raytheon Technologies (RTX) Outpaces Stock Market Gains: What You Should Know
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Raytheon Technologies (RTX - Free Report) closed the most recent trading day at $94.83, moving +1.08% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.59%. Elsewhere, the Dow gained 0.15%, while the tech-heavy Nasdaq lost 0.02%.
Prior to today's trading, shares of the an aerospace and defense company had gained 0.97% over the past month. This has lagged the Aerospace sector's gain of 5.93% and the S&P 500's gain of 7.25% in that time.
Raytheon Technologies will be looking to display strength as it nears its next earnings release, which is expected to be July 26, 2022. The company is expected to report EPS of $1.12, up 8.74% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $16.37 billion, up 3.1% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.77 per share and revenue of $68.09 billion. These totals would mark changes of +11.71% and +5.76%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Raytheon Technologies. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Raytheon Technologies is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Raytheon Technologies has a Forward P/E ratio of 19.66 right now. For comparison, its industry has an average Forward P/E of 23.97, which means Raytheon Technologies is trading at a discount to the group.
Meanwhile, RTX's PEG ratio is currently 1.87. 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. Aerospace - Defense Equipment stocks are, on average, holding a PEG ratio of 1.87 based on yesterday's closing prices.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 168, putting 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Raytheon Technologies (RTX) Outpaces Stock Market Gains: What You Should Know
Raytheon Technologies (RTX - Free Report) closed the most recent trading day at $94.83, moving +1.08% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.59%. Elsewhere, the Dow gained 0.15%, while the tech-heavy Nasdaq lost 0.02%.
Prior to today's trading, shares of the an aerospace and defense company had gained 0.97% over the past month. This has lagged the Aerospace sector's gain of 5.93% and the S&P 500's gain of 7.25% in that time.
Raytheon Technologies will be looking to display strength as it nears its next earnings release, which is expected to be July 26, 2022. The company is expected to report EPS of $1.12, up 8.74% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $16.37 billion, up 3.1% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.77 per share and revenue of $68.09 billion. These totals would mark changes of +11.71% and +5.76%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Raytheon Technologies. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Raytheon Technologies is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Raytheon Technologies has a Forward P/E ratio of 19.66 right now. For comparison, its industry has an average Forward P/E of 23.97, which means Raytheon Technologies is trading at a discount to the group.
Meanwhile, RTX's PEG ratio is currently 1.87. 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. Aerospace - Defense Equipment stocks are, on average, holding a PEG ratio of 1.87 based on yesterday's closing prices.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 168, putting 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.