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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 at $97.44 in the latest trading session, marking a +1.77% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.24%. At the same time, the Dow added 0.03%, and the tech-heavy Nasdaq gained 5.73%.
Coming into today, shares of the an aerospace and defense company had gained 0.22% in the past month. In that same time, the Aerospace sector gained 0.53%, while the S&P 500 gained 3.56%.
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 $1.19, up 2.59% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $17.64 billion, up 8.11% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.05 per share and revenue of $72.64 billion, which would represent changes of +5.65% and +8.3%, respectively, from the prior year.
Any recent changes to analyst estimates for Raytheon Technologies should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Raytheon Technologies is holding a Forward P/E ratio of 18.96. This valuation marks a discount compared to its industry's average Forward P/E of 24.44.
We can also see that RTX currently has a PEG ratio of 2.3. 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 2.06 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 155, which puts it in the bottom 39% 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.
To follow RTX in the coming trading sessions, be sure to utilize Zacks.com.
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Raytheon Technologies (RTX) Outpaces Stock Market Gains: What You Should Know
Raytheon Technologies (RTX - Free Report) closed at $97.44 in the latest trading session, marking a +1.77% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.24%. At the same time, the Dow added 0.03%, and the tech-heavy Nasdaq gained 5.73%.
Coming into today, shares of the an aerospace and defense company had gained 0.22% in the past month. In that same time, the Aerospace sector gained 0.53%, while the S&P 500 gained 3.56%.
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 $1.19, up 2.59% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $17.64 billion, up 8.11% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.05 per share and revenue of $72.64 billion, which would represent changes of +5.65% and +8.3%, respectively, from the prior year.
Any recent changes to analyst estimates for Raytheon Technologies should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Raytheon Technologies is holding a Forward P/E ratio of 18.96. This valuation marks a discount compared to its industry's average Forward P/E of 24.44.
We can also see that RTX currently has a PEG ratio of 2.3. 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 2.06 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 155, which puts it in the bottom 39% 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.
To follow RTX in the coming trading sessions, be sure to utilize Zacks.com.