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RTX (RTX) Outperforms Broader Market: What You Need to Know
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RTX (RTX - Free Report) closed the most recent trading day at $101.11, moving +1.01% from the previous trading session. This change outpaced the S&P 500's 0.07% gain on the day. Elsewhere, the Dow lost 0.13%, while the tech-heavy Nasdaq added 0.14%.
The the stock of an aerospace and defense company has fallen by 6.53% in the past month, lagging the Aerospace sector's loss of 4.1% and the S&P 500's gain of 4.34%.
The investment community will be paying close attention to the earnings performance of RTX in its upcoming release. The company is slated to reveal its earnings on July 25, 2024. It is anticipated that the company will report an EPS of $1.29, marking stability compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $19.31 billion, showing a 5.41% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.39 per share and revenue of $78.99 billion. These totals would mark changes of +6.52% and +6.16%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for RTX. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. RTX is currently a Zacks Rank #3 (Hold).
In terms of valuation, RTX is currently trading at a Forward P/E ratio of 18.56. For comparison, its industry has an average Forward P/E of 17.59, which means RTX is trading at a premium to the group.
We can also see that RTX currently has a PEG ratio of 1.76. 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. As the market closed yesterday, the Aerospace - Defense industry was having an average PEG ratio of 1.74.
The Aerospace - Defense industry is part of the Aerospace sector. Currently, this industry holds a Zacks Industry Rank of 160, positioning it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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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RTX (RTX) Outperforms Broader Market: What You Need to Know
RTX (RTX - Free Report) closed the most recent trading day at $101.11, moving +1.01% from the previous trading session. This change outpaced the S&P 500's 0.07% gain on the day. Elsewhere, the Dow lost 0.13%, while the tech-heavy Nasdaq added 0.14%.
The the stock of an aerospace and defense company has fallen by 6.53% in the past month, lagging the Aerospace sector's loss of 4.1% and the S&P 500's gain of 4.34%.
The investment community will be paying close attention to the earnings performance of RTX in its upcoming release. The company is slated to reveal its earnings on July 25, 2024. It is anticipated that the company will report an EPS of $1.29, marking stability compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $19.31 billion, showing a 5.41% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.39 per share and revenue of $78.99 billion. These totals would mark changes of +6.52% and +6.16%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for RTX. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. RTX is currently a Zacks Rank #3 (Hold).
In terms of valuation, RTX is currently trading at a Forward P/E ratio of 18.56. For comparison, its industry has an average Forward P/E of 17.59, which means RTX is trading at a premium to the group.
We can also see that RTX currently has a PEG ratio of 1.76. 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. As the market closed yesterday, the Aerospace - Defense industry was having an average PEG ratio of 1.74.
The Aerospace - Defense industry is part of the Aerospace sector. Currently, this industry holds a Zacks Industry Rank of 160, positioning it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.