United Technologies closed the most recent trading day at $115.07, moving -0.64% from the previous trading session. This move was narrower than the S&P 500's daily loss of 0.79%. Meanwhile, the Dow lost 0.85%, and the Nasdaq, a tech-heavy index, lost 1.11%.
Coming into today, shares of the maker of elevators, jet engines and other products had gained 9.5% in the past month. In that same time, the Conglomerates sector gained 15.6%, while the S&P 500 gained 13.44%.
UTX will be looking to display strength as it nears its next earnings release, which is expected to be April 23, 2019. The company is expected to report EPS of $1.77, unchanged from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $18.03 billion, up 18.29% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.89 per share and revenue of $76.96 billion. These totals would mark changes of +3.68% and +15.73%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for UTX. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2% higher within the past month. UTX is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, UTX is currently trading at a Forward P/E ratio of 14.68. This valuation marks a discount compared to its industry's average Forward P/E of 15.27.
Meanwhile, UTX's PEG ratio is currently 1.6. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Diversified Operations stocks are, on average, holding a PEG ratio of 1.7 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 91, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow UTX in the coming trading sessions, be sure to utilize Zacks.com.
Image: Bigstock
United Technologies (UTX) Stock Moves -0.64%: What You Should Know
United Technologies closed the most recent trading day at $115.07, moving -0.64% from the previous trading session. This move was narrower than the S&P 500's daily loss of 0.79%. Meanwhile, the Dow lost 0.85%, and the Nasdaq, a tech-heavy index, lost 1.11%.
Coming into today, shares of the maker of elevators, jet engines and other products had gained 9.5% in the past month. In that same time, the Conglomerates sector gained 15.6%, while the S&P 500 gained 13.44%.
UTX will be looking to display strength as it nears its next earnings release, which is expected to be April 23, 2019. The company is expected to report EPS of $1.77, unchanged from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $18.03 billion, up 18.29% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.89 per share and revenue of $76.96 billion. These totals would mark changes of +3.68% and +15.73%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for UTX. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2% higher within the past month. UTX is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, UTX is currently trading at a Forward P/E ratio of 14.68. This valuation marks a discount compared to its industry's average Forward P/E of 15.27.
Meanwhile, UTX's PEG ratio is currently 1.6. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Diversified Operations stocks are, on average, holding a PEG ratio of 1.7 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 91, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow UTX in the coming trading sessions, be sure to utilize Zacks.com.