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RTX (RTX) Exceeds Market Returns: Some Facts to Consider
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The most recent trading session ended with RTX (RTX - Free Report) standing at $123.93, reflecting a +0.81% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily gain of 0.61%. At the same time, the Dow added 0.97%, and the tech-heavy Nasdaq gained 0.33%.
Shares of the an aerospace and defense company witnessed a gain of 2.36% over the previous month, beating the performance of the Aerospace sector with its loss of 0.3% and underperforming the S&P 500's gain of 5.36%.
The upcoming earnings release of RTX will be of great interest to investors. The company's earnings report is expected on October 22, 2024. The company's earnings per share (EPS) are projected to be $1.33, reflecting a 6.4% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $19.95 billion, reflecting a 5.27% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.46 per share and a revenue of $79.5 billion, representing changes of +7.91% and +6.84%, respectively, from the prior 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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. The Zacks Consensus EPS estimate has moved 0.03% higher within the past month. Right now, RTX possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, RTX is currently exchanging hands at a Forward P/E ratio of 22.53. This expresses a premium compared to the average Forward P/E of 20.59 of its industry.
It's also important to note that RTX currently trades at a PEG ratio of 2.18. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Aerospace - Defense was holding an average PEG ratio of 2.05 at yesterday's closing price.
The Aerospace - Defense industry is part of the Aerospace sector. At present, this industry carries a Zacks Industry Rank of 33, placing it within the top 14% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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RTX (RTX) Exceeds Market Returns: Some Facts to Consider
The most recent trading session ended with RTX (RTX - Free Report) standing at $123.93, reflecting a +0.81% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily gain of 0.61%. At the same time, the Dow added 0.97%, and the tech-heavy Nasdaq gained 0.33%.
Shares of the an aerospace and defense company witnessed a gain of 2.36% over the previous month, beating the performance of the Aerospace sector with its loss of 0.3% and underperforming the S&P 500's gain of 5.36%.
The upcoming earnings release of RTX will be of great interest to investors. The company's earnings report is expected on October 22, 2024. The company's earnings per share (EPS) are projected to be $1.33, reflecting a 6.4% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $19.95 billion, reflecting a 5.27% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.46 per share and a revenue of $79.5 billion, representing changes of +7.91% and +6.84%, respectively, from the prior 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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. The Zacks Consensus EPS estimate has moved 0.03% higher within the past month. Right now, RTX possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, RTX is currently exchanging hands at a Forward P/E ratio of 22.53. This expresses a premium compared to the average Forward P/E of 20.59 of its industry.
It's also important to note that RTX currently trades at a PEG ratio of 2.18. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Aerospace - Defense was holding an average PEG ratio of 2.05 at yesterday's closing price.
The Aerospace - Defense industry is part of the Aerospace sector. At present, this industry carries a Zacks Industry Rank of 33, placing it within the top 14% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.