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Raytheon Technologies (RTX) Gains But Lags Market: What You Should Know
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In the latest trading session, Raytheon Technologies (RTX - Free Report) closed at $94.89, marking a +0.06% move from the previous day. The stock lagged the S&P 500's daily gain of 0.99%. Meanwhile, the Dow gained 0.51%, and the Nasdaq, a tech-heavy index, lost 0.31%.
Coming into today, shares of the an aerospace and defense company had gained 2.45% in the past month. In that same time, the Aerospace sector gained 6.83%, while the S&P 500 gained 7.91%.
Investors will be hoping for strength from Raytheon Technologies as it approaches 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 $16.44 billion, up 3.56% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.76 per share and revenue of $68.09 billion, which would represent changes of +11.48% and +5.76%, respectively, from the prior year.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 has moved 0.28% lower. Raytheon Technologies is holding a Zacks Rank of #4 (Sell) right now.
Digging into valuation, Raytheon Technologies currently has a Forward P/E ratio of 19.93. This represents a discount compared to its industry's average Forward P/E of 24.1.
Also, we should mention that RTX has a PEG ratio of 1.9. 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 was holding an average PEG ratio of 1.9 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 206, which puts it in the bottom 19% 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) Gains But Lags Market: What You Should Know
In the latest trading session, Raytheon Technologies (RTX - Free Report) closed at $94.89, marking a +0.06% move from the previous day. The stock lagged the S&P 500's daily gain of 0.99%. Meanwhile, the Dow gained 0.51%, and the Nasdaq, a tech-heavy index, lost 0.31%.
Coming into today, shares of the an aerospace and defense company had gained 2.45% in the past month. In that same time, the Aerospace sector gained 6.83%, while the S&P 500 gained 7.91%.
Investors will be hoping for strength from Raytheon Technologies as it approaches 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 $16.44 billion, up 3.56% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.76 per share and revenue of $68.09 billion, which would represent changes of +11.48% and +5.76%, respectively, from the prior year.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 has moved 0.28% lower. Raytheon Technologies is holding a Zacks Rank of #4 (Sell) right now.
Digging into valuation, Raytheon Technologies currently has a Forward P/E ratio of 19.93. This represents a discount compared to its industry's average Forward P/E of 24.1.
Also, we should mention that RTX has a PEG ratio of 1.9. 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 was holding an average PEG ratio of 1.9 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 206, which puts it in the bottom 19% 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.