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Raytheon Technologies (RTX) Stock Moves -0.04%: What You Should Know
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Raytheon Technologies (RTX - Free Report) closed the most recent trading day at $97.70, moving -0.04% from the previous trading session. This move was narrower than the S&P 500's daily loss of 0.47%. Elsewhere, the Dow lost 0.72%, while the tech-heavy Nasdaq lost 5.08%.
Prior to today's trading, shares of the an aerospace and defense company had gained 2.17% over the past month. This has lagged the Aerospace sector's gain of 3.01% and the S&P 500's gain of 5.36% 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 $1.18 per share, which would represent year-over-year growth of 1.72%. Meanwhile, our latest consensus estimate is calling for revenue of $17.64 billion, up 8.11% from the prior-year quarter.
RTX's full-year Zacks Consensus Estimates are calling for earnings of $5.04 per share and revenue of $72.64 billion. These results would represent year-over-year changes of +5.44% and +8.3%, respectively.
Investors should also note any recent changes to analyst estimates for Raytheon Technologies. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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 0.17% lower. Raytheon Technologies is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Raytheon Technologies is currently trading at a Forward P/E ratio of 19.39. Its industry sports an average Forward P/E of 25.16, so we one might conclude that Raytheon Technologies is trading at a discount comparatively.
It is also worth noting that RTX currently has a PEG ratio of 2.35. 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. RTX's industry had an average PEG ratio of 2.08 as of yesterday's close.
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 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Raytheon Technologies (RTX) Stock Moves -0.04%: What You Should Know
Raytheon Technologies (RTX - Free Report) closed the most recent trading day at $97.70, moving -0.04% from the previous trading session. This move was narrower than the S&P 500's daily loss of 0.47%. Elsewhere, the Dow lost 0.72%, while the tech-heavy Nasdaq lost 5.08%.
Prior to today's trading, shares of the an aerospace and defense company had gained 2.17% over the past month. This has lagged the Aerospace sector's gain of 3.01% and the S&P 500's gain of 5.36% 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 $1.18 per share, which would represent year-over-year growth of 1.72%. Meanwhile, our latest consensus estimate is calling for revenue of $17.64 billion, up 8.11% from the prior-year quarter.
RTX's full-year Zacks Consensus Estimates are calling for earnings of $5.04 per share and revenue of $72.64 billion. These results would represent year-over-year changes of +5.44% and +8.3%, respectively.
Investors should also note any recent changes to analyst estimates for Raytheon Technologies. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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 0.17% lower. Raytheon Technologies is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Raytheon Technologies is currently trading at a Forward P/E ratio of 19.39. Its industry sports an average Forward P/E of 25.16, so we one might conclude that Raytheon Technologies is trading at a discount comparatively.
It is also worth noting that RTX currently has a PEG ratio of 2.35. 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. RTX's industry had an average PEG ratio of 2.08 as of yesterday's close.
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 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.