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Raytheon Technologies (RTX) Stock Moves -1.34%: What You Should Know
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Raytheon Technologies (RTX - Free Report) closed at $98.18 in the latest trading session, marking a -1.34% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.53%. At the same time, the Dow lost 1.72%, and the tech-heavy Nasdaq lost 3.27%.
Coming into today, shares of the an aerospace and defense company had gained 1.92% in the past month. In that same time, the Aerospace sector gained 2.48%, while the S&P 500 lost 1.28%.
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 $1.11 per share, which would represent a year-over-year decline of 3.48%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $16.86 billion, up 7.26% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5 per share and revenue of $72.29 billion, which would represent changes of +4.6% and +7.77%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Raytheon Technologies. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. 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 19.92 right now. For comparison, its industry has an average Forward P/E of 23.03, which means Raytheon Technologies is trading at a discount to the group.
We can also see that RTX currently has a PEG ratio of 2.39. 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. Aerospace - Defense Equipment stocks are, on average, holding a PEG ratio of 2.5 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 100, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Raytheon Technologies (RTX) Stock Moves -1.34%: What You Should Know
Raytheon Technologies (RTX - Free Report) closed at $98.18 in the latest trading session, marking a -1.34% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.53%. At the same time, the Dow lost 1.72%, and the tech-heavy Nasdaq lost 3.27%.
Coming into today, shares of the an aerospace and defense company had gained 1.92% in the past month. In that same time, the Aerospace sector gained 2.48%, while the S&P 500 lost 1.28%.
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 $1.11 per share, which would represent a year-over-year decline of 3.48%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $16.86 billion, up 7.26% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5 per share and revenue of $72.29 billion, which would represent changes of +4.6% and +7.77%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Raytheon Technologies. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. 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 19.92 right now. For comparison, its industry has an average Forward P/E of 23.03, which means Raytheon Technologies is trading at a discount to the group.
We can also see that RTX currently has a PEG ratio of 2.39. 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. Aerospace - Defense Equipment stocks are, on average, holding a PEG ratio of 2.5 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 100, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.