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Raytheon Technologies (RTX) Dips More Than Broader Markets: What You Should Know
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Raytheon Technologies (RTX - Free Report) closed the most recent trading day at $98.73, moving -1.94% from the previous trading session. This change lagged the S&P 500's 1.44% loss on the day. At the same time, the Dow lost 1.03%, and the tech-heavy Nasdaq lost 0.2%.
Heading into today, shares of the an aerospace and defense company had gained 4.69% over the past month, lagging the Aerospace sector's gain of 5.54% and the S&P 500's gain of 6.22% in that time.
Raytheon Technologies will be looking to display strength as it nears its next earnings release. In that report, analysts expect Raytheon Technologies to post earnings of $1.24 per share. This would mark year-over-year growth of 14.81%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $18.2 billion, up 6.76% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.76 per share and revenue of $67.18 billion. These totals would mark changes of +11.48% and +4.33%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Raytheon Technologies. 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. 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 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 remained stagnant. Raytheon Technologies currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Raytheon Technologies has a Forward P/E ratio of 21.15 right now. For comparison, its industry has an average Forward P/E of 25.06, which means Raytheon Technologies is trading at a discount to the group.
Also, we should mention that RTX has a PEG ratio of 2.23. 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. RTX's industry had an average PEG ratio of 2.6 as of yesterday's close.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 149, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Dips More Than Broader Markets: What You Should Know
Raytheon Technologies (RTX - Free Report) closed the most recent trading day at $98.73, moving -1.94% from the previous trading session. This change lagged the S&P 500's 1.44% loss on the day. At the same time, the Dow lost 1.03%, and the tech-heavy Nasdaq lost 0.2%.
Heading into today, shares of the an aerospace and defense company had gained 4.69% over the past month, lagging the Aerospace sector's gain of 5.54% and the S&P 500's gain of 6.22% in that time.
Raytheon Technologies will be looking to display strength as it nears its next earnings release. In that report, analysts expect Raytheon Technologies to post earnings of $1.24 per share. This would mark year-over-year growth of 14.81%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $18.2 billion, up 6.76% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.76 per share and revenue of $67.18 billion. These totals would mark changes of +11.48% and +4.33%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Raytheon Technologies. 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. 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 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 remained stagnant. Raytheon Technologies currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Raytheon Technologies has a Forward P/E ratio of 21.15 right now. For comparison, its industry has an average Forward P/E of 25.06, which means Raytheon Technologies is trading at a discount to the group.
Also, we should mention that RTX has a PEG ratio of 2.23. 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. RTX's industry had an average PEG ratio of 2.6 as of yesterday's close.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 149, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.