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Raytheon Technologies (RTX) Gains But Lags Market: What You Should Know
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Raytheon Technologies (RTX - Free Report) closed the most recent trading day at $94.36, moving +0.13% from the previous trading session. This move lagged the S&P 500's daily gain of 1.89%. At the same time, the Dow added 1%, and the tech-heavy Nasdaq gained 10%.
Coming into today, shares of the an aerospace and defense company had lost 4.33% in the past month. In that same time, the Aerospace sector lost 2.07%, while the S&P 500 gained 2.3%.
Raytheon Technologies will be looking to display strength as it nears its next earnings release, which is expected to be January 24, 2023. 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%. Our most recent consensus estimate is calling for quarterly revenue of $18.2 billion, up 6.76% from the year-ago period.
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 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. 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 0.64% lower. Raytheon Technologies is holding a Zacks Rank of #4 (Sell) right now.
Investors should also note Raytheon Technologies's current valuation metrics, including its Forward P/E ratio of 18.24. Its industry sports an average Forward P/E of 20.32, so we one might conclude that Raytheon Technologies is trading at a discount comparatively.
Also, we should mention that RTX has a PEG ratio of 1.93. 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 2.78 as of yesterday's close.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 176, putting it in the bottom 31% 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.
To follow RTX in the coming trading sessions, be sure to utilize Zacks.com.
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Raytheon Technologies (RTX) Gains But Lags Market: What You Should Know
Raytheon Technologies (RTX - Free Report) closed the most recent trading day at $94.36, moving +0.13% from the previous trading session. This move lagged the S&P 500's daily gain of 1.89%. At the same time, the Dow added 1%, and the tech-heavy Nasdaq gained 10%.
Coming into today, shares of the an aerospace and defense company had lost 4.33% in the past month. In that same time, the Aerospace sector lost 2.07%, while the S&P 500 gained 2.3%.
Raytheon Technologies will be looking to display strength as it nears its next earnings release, which is expected to be January 24, 2023. 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%. Our most recent consensus estimate is calling for quarterly revenue of $18.2 billion, up 6.76% from the year-ago period.
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 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. 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 0.64% lower. Raytheon Technologies is holding a Zacks Rank of #4 (Sell) right now.
Investors should also note Raytheon Technologies's current valuation metrics, including its Forward P/E ratio of 18.24. Its industry sports an average Forward P/E of 20.32, so we one might conclude that Raytheon Technologies is trading at a discount comparatively.
Also, we should mention that RTX has a PEG ratio of 1.93. 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 2.78 as of yesterday's close.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 176, putting it in the bottom 31% 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.
To follow RTX in the coming trading sessions, be sure to utilize Zacks.com.