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Raytheon Technologies (RTX) Gains But Lags Market: What You Should Know
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Raytheon Technologies (RTX - Free Report) closed the most recent trading day at $99.42, moving +0.08% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.93%. Meanwhile, the Dow gained 0.56%, and the Nasdaq, a tech-heavy index, added 1.71%.
Prior to today's trading, shares of the an aerospace and defense company had gained 3.49% over the past month. This has outpaced the Aerospace sector's gain of 3.21% and lagged the S&P 500's gain of 4.61% in that time.
Raytheon Technologies will be looking to display strength as it nears its next earnings release. On that day, Raytheon Technologies is projected to report earnings of $1.19 per share, which would represent year-over-year growth of 2.59%. Our most recent consensus estimate is calling for quarterly revenue of $17.64 billion, up 8.11% from the year-ago period.
RTX's full-year Zacks Consensus Estimates are calling for earnings of $5.05 per share and revenue of $72.64 billion. These results would represent year-over-year changes of +5.65% and +8.3%, respectively.
Investors should also note any recent changes to analyst estimates for Raytheon Technologies. These revisions help to show the ever-changing nature of 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. 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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. Raytheon Technologies currently has a Zacks Rank of #3 (Hold).
Investors should also note Raytheon Technologies's current valuation metrics, including its Forward P/E ratio of 19.67. For comparison, its industry has an average Forward P/E of 24.48, which means Raytheon Technologies is trading at a discount to the group.
It is also worth noting that RTX currently has a PEG ratio of 2.38. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Aerospace - Defense Equipment industry currently had an average PEG ratio of 2.07 as of yesterday's close.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 166, putting it in the bottom 35% 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
Raytheon Technologies (RTX - Free Report) closed the most recent trading day at $99.42, moving +0.08% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.93%. Meanwhile, the Dow gained 0.56%, and the Nasdaq, a tech-heavy index, added 1.71%.
Prior to today's trading, shares of the an aerospace and defense company had gained 3.49% over the past month. This has outpaced the Aerospace sector's gain of 3.21% and lagged the S&P 500's gain of 4.61% in that time.
Raytheon Technologies will be looking to display strength as it nears its next earnings release. On that day, Raytheon Technologies is projected to report earnings of $1.19 per share, which would represent year-over-year growth of 2.59%. Our most recent consensus estimate is calling for quarterly revenue of $17.64 billion, up 8.11% from the year-ago period.
RTX's full-year Zacks Consensus Estimates are calling for earnings of $5.05 per share and revenue of $72.64 billion. These results would represent year-over-year changes of +5.65% and +8.3%, respectively.
Investors should also note any recent changes to analyst estimates for Raytheon Technologies. These revisions help to show the ever-changing nature of 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. 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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. Raytheon Technologies currently has a Zacks Rank of #3 (Hold).
Investors should also note Raytheon Technologies's current valuation metrics, including its Forward P/E ratio of 19.67. For comparison, its industry has an average Forward P/E of 24.48, which means Raytheon Technologies is trading at a discount to the group.
It is also worth noting that RTX currently has a PEG ratio of 2.38. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Aerospace - Defense Equipment industry currently had an average PEG ratio of 2.07 as of yesterday's close.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 166, putting it in the bottom 35% 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.