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Raytheon Technologies (RTX) Gains As Market Dips: What You Should Know
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Raytheon Technologies (RTX - Free Report) closed the most recent trading day at $87.63, moving +0.31% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.67%. Meanwhile, the Dow lost 0.33%, and the Nasdaq, a tech-heavy index, lost 0.22%.
Coming into today, shares of the an aerospace and defense company had gained 2.6% in the past month. In that same time, the Aerospace sector gained 0.99%, while the S&P 500 lost 3.76%.
Investors will be hoping for strength from Raytheon Technologies as it approaches its next earnings release, which is expected to be October 25, 2022. In that report, analysts expect Raytheon Technologies to post earnings of $1.11 per share. This would mark a year-over-year decline of 11.9%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $17.11 billion, up 5.56% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.65 per share and revenue of $67.13 billion. These totals would mark changes of +8.9% and +4.26%, respectively, from last year.
Any recent changes to analyst estimates for Raytheon Technologies should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.31% lower. Raytheon Technologies currently has a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Raytheon Technologies has a Forward P/E ratio of 18.79 right now. This represents a discount compared to its industry's average Forward P/E of 25.38.
Also, we should mention that RTX has a PEG ratio of 1.8. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Aerospace - Defense Equipment industry currently had an average PEG ratio of 2.14 as of yesterday's close.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 179, putting it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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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Raytheon Technologies (RTX) Gains As Market Dips: What You Should Know
Raytheon Technologies (RTX - Free Report) closed the most recent trading day at $87.63, moving +0.31% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.67%. Meanwhile, the Dow lost 0.33%, and the Nasdaq, a tech-heavy index, lost 0.22%.
Coming into today, shares of the an aerospace and defense company had gained 2.6% in the past month. In that same time, the Aerospace sector gained 0.99%, while the S&P 500 lost 3.76%.
Investors will be hoping for strength from Raytheon Technologies as it approaches its next earnings release, which is expected to be October 25, 2022. In that report, analysts expect Raytheon Technologies to post earnings of $1.11 per share. This would mark a year-over-year decline of 11.9%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $17.11 billion, up 5.56% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.65 per share and revenue of $67.13 billion. These totals would mark changes of +8.9% and +4.26%, respectively, from last year.
Any recent changes to analyst estimates for Raytheon Technologies should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.31% lower. Raytheon Technologies currently has a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Raytheon Technologies has a Forward P/E ratio of 18.79 right now. This represents a discount compared to its industry's average Forward P/E of 25.38.
Also, we should mention that RTX has a PEG ratio of 1.8. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Aerospace - Defense Equipment industry currently had an average PEG ratio of 2.14 as of yesterday's close.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 179, putting it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.