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Here's Why RTX (RTX) Gained But Lagged the Market Today
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In the latest market close, RTX (RTX - Free Report) reached $125.92, with a +0.14% movement compared to the previous day. The stock's performance was behind the S&P 500's daily gain of 0.4%. Meanwhile, the Dow experienced a rise of 0.09%, and the technology-dominated Nasdaq saw an increase of 0.63%.
Shares of the an aerospace and defense company witnessed a gain of 5.83% over the previous month, beating the performance of the Aerospace sector with its loss of 1.22% and the S&P 500's gain of 3.76%.
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 October 22, 2024. In that report, analysts expect RTX to post earnings of $1.33 per share. This would mark year-over-year growth of 6.4%. Meanwhile, our latest consensus estimate is calling for revenue of $19.91 billion, up 5.07% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.45 per share and revenue of $79.46 billion. These totals would mark changes of +7.71% and +6.8%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for RTX. These recent revisions tend to reflect the evolving nature of short-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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.1% decrease. RTX is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note RTX's current valuation metrics, including its Forward P/E ratio of 23.08. This indicates a premium in contrast to its industry's Forward P/E of 20.99.
We can also see that RTX currently has a PEG ratio of 2.23. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. RTX's industry had an average PEG ratio of 2.16 as of yesterday's close.
The Aerospace - Defense industry is part of the Aerospace sector. This industry, currently bearing a Zacks Industry Rank of 63, finds itself in the top 25% echelons of all 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Here's Why RTX (RTX) Gained But Lagged the Market Today
In the latest market close, RTX (RTX - Free Report) reached $125.92, with a +0.14% movement compared to the previous day. The stock's performance was behind the S&P 500's daily gain of 0.4%. Meanwhile, the Dow experienced a rise of 0.09%, and the technology-dominated Nasdaq saw an increase of 0.63%.
Shares of the an aerospace and defense company witnessed a gain of 5.83% over the previous month, beating the performance of the Aerospace sector with its loss of 1.22% and the S&P 500's gain of 3.76%.
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 October 22, 2024. In that report, analysts expect RTX to post earnings of $1.33 per share. This would mark year-over-year growth of 6.4%. Meanwhile, our latest consensus estimate is calling for revenue of $19.91 billion, up 5.07% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.45 per share and revenue of $79.46 billion. These totals would mark changes of +7.71% and +6.8%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for RTX. These recent revisions tend to reflect the evolving nature of short-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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.1% decrease. RTX is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note RTX's current valuation metrics, including its Forward P/E ratio of 23.08. This indicates a premium in contrast to its industry's Forward P/E of 20.99.
We can also see that RTX currently has a PEG ratio of 2.23. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. RTX's industry had an average PEG ratio of 2.16 as of yesterday's close.
The Aerospace - Defense industry is part of the Aerospace sector. This industry, currently bearing a Zacks Industry Rank of 63, finds itself in the top 25% echelons of all 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.