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Raytheon Technologies (RTX) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Raytheon Technologies (RTX - Free Report) closed at $64.54, marking a -0.77% move from the previous day. This change lagged the S&P 500's 0.43% gain on the day. At the same time, the Dow added 0.5%, and the tech-heavy Nasdaq gained 0.75%.
RTX will be looking to display strength as it nears its next earnings release. In that report, analysts expect RTX to post earnings of $0.30 per share. This would mark a year-over-year decline of 86.36%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $15.73 billion, down 19.87% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.44 per share and revenue of $67 billion. These totals would mark changes of -58.35% and -13.04%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for RTX. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. Within the past 30 days, our consensus EPS projection has moved 2.02% lower. RTX is currently a Zacks Rank #4 (Sell).
Valuation is also important, so investors should note that RTX has a Forward P/E ratio of 18.89 right now. For comparison, its industry has an average Forward P/E of 23.29, which means RTX is trading at a discount to the group.
It is also worth noting that RTX currently has a PEG ratio of 1.57. 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. RTX's industry had an average PEG ratio of 6.22 as of yesterday's close.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 218, which puts it in the bottom 15% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Raytheon Technologies (RTX) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Raytheon Technologies (RTX - Free Report) closed at $64.54, marking a -0.77% move from the previous day. This change lagged the S&P 500's 0.43% gain on the day. At the same time, the Dow added 0.5%, and the tech-heavy Nasdaq gained 0.75%.
RTX will be looking to display strength as it nears its next earnings release. In that report, analysts expect RTX to post earnings of $0.30 per share. This would mark a year-over-year decline of 86.36%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $15.73 billion, down 19.87% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.44 per share and revenue of $67 billion. These totals would mark changes of -58.35% and -13.04%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for RTX. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. Within the past 30 days, our consensus EPS projection has moved 2.02% lower. RTX is currently a Zacks Rank #4 (Sell).
Valuation is also important, so investors should note that RTX has a Forward P/E ratio of 18.89 right now. For comparison, its industry has an average Forward P/E of 23.29, which means RTX is trading at a discount to the group.
It is also worth noting that RTX currently has a PEG ratio of 1.57. 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. RTX's industry had an average PEG ratio of 6.22 as of yesterday's close.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 218, which puts it in the bottom 15% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.