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RTX (RTX) Stock Slides as Market Rises: Facts to Know Before You Trade
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The latest trading session saw RTX (RTX - Free Report) ending at $101.57, denoting a -0.38% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 0.09% for the day. On the other hand, the Dow registered a loss of 0.1%, and the technology-centric Nasdaq increased by 0.16%.
Shares of the an aerospace and defense company witnessed a loss of 4.06% over the previous month, trailing the performance of the Aerospace sector with its loss of 1.13% and the S&P 500's gain of 2.83%.
Market participants will be closely following the financial results of RTX in its upcoming release. The company is predicted to post an EPS of $1.30, indicating a 0.78% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $19.31 billion, indicating a 5.41% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.39 per share and a revenue of $79.04 billion, signifying shifts of +6.52% and +6.23%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for RTX. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. RTX is currently a Zacks Rank #3 (Hold).
Looking at its valuation, RTX is holding a Forward P/E ratio of 18.9. This indicates a premium in contrast to its industry's Forward P/E of 17.84.
Investors should also note that RTX has a PEG ratio of 1.79 right now. 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 average PEG ratio for the Aerospace - Defense industry stood at 1.75 at the close of the market yesterday.
The Aerospace - Defense industry is part of the Aerospace sector. At present, this industry carries a Zacks Industry Rank of 88, placing it within the top 35% of over 250 industries.
The Zacks Industry Rank is ordered 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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RTX (RTX) Stock Slides as Market Rises: Facts to Know Before You Trade
The latest trading session saw RTX (RTX - Free Report) ending at $101.57, denoting a -0.38% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 0.09% for the day. On the other hand, the Dow registered a loss of 0.1%, and the technology-centric Nasdaq increased by 0.16%.
Shares of the an aerospace and defense company witnessed a loss of 4.06% over the previous month, trailing the performance of the Aerospace sector with its loss of 1.13% and the S&P 500's gain of 2.83%.
Market participants will be closely following the financial results of RTX in its upcoming release. The company is predicted to post an EPS of $1.30, indicating a 0.78% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $19.31 billion, indicating a 5.41% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.39 per share and a revenue of $79.04 billion, signifying shifts of +6.52% and +6.23%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for RTX. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. RTX is currently a Zacks Rank #3 (Hold).
Looking at its valuation, RTX is holding a Forward P/E ratio of 18.9. This indicates a premium in contrast to its industry's Forward P/E of 17.84.
Investors should also note that RTX has a PEG ratio of 1.79 right now. 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 average PEG ratio for the Aerospace - Defense industry stood at 1.75 at the close of the market yesterday.
The Aerospace - Defense industry is part of the Aerospace sector. At present, this industry carries a Zacks Industry Rank of 88, placing it within the top 35% of over 250 industries.
The Zacks Industry Rank is ordered 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.