United Technologies closed at $113.66 in the latest trading session, marking a +0.79% move from the prior day. The stock lagged the S&P 500's daily gain of 1.32%. Meanwhile, the Dow gained 1.38%, and the Nasdaq, a tech-heavy index, added 1.74%.
Coming into today, shares of the maker of elevators, jet engines and other products had gained 2.87% in the past month. In that same time, the Conglomerates sector gained 5.58%, while the S&P 500 gained 4.16%.
Investors will be hoping for strength from UTX as it approaches its next earnings release, which is expected to be January 23, 2019. On that day, UTX is projected to report earnings of $1.51 per share, which would represent a year-over-year decline of 5.63%. Meanwhile, our latest consensus estimate is calling for revenue of $16.79 billion, up 7.08% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for UTX. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.84% higher. UTX is currently a Zacks Rank #3 (Hold).
Investors should also note UTX's current valuation metrics, including its Forward P/E ratio of 14.5. This valuation marks a discount compared to its industry's average Forward P/E of 14.63.
We can also see that UTX currently has a PEG ratio of 1.58. 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 Diversified Operations industry currently had an average PEG ratio of 1.67 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 80, putting it in the top 32% 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.
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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United Technologies (UTX) Gains But Lags Market: What You Should Know
United Technologies closed at $113.66 in the latest trading session, marking a +0.79% move from the prior day. The stock lagged the S&P 500's daily gain of 1.32%. Meanwhile, the Dow gained 1.38%, and the Nasdaq, a tech-heavy index, added 1.74%.
Coming into today, shares of the maker of elevators, jet engines and other products had gained 2.87% in the past month. In that same time, the Conglomerates sector gained 5.58%, while the S&P 500 gained 4.16%.
Investors will be hoping for strength from UTX as it approaches its next earnings release, which is expected to be January 23, 2019. On that day, UTX is projected to report earnings of $1.51 per share, which would represent a year-over-year decline of 5.63%. Meanwhile, our latest consensus estimate is calling for revenue of $16.79 billion, up 7.08% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for UTX. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.84% higher. UTX is currently a Zacks Rank #3 (Hold).
Investors should also note UTX's current valuation metrics, including its Forward P/E ratio of 14.5. This valuation marks a discount compared to its industry's average Forward P/E of 14.63.
We can also see that UTX currently has a PEG ratio of 1.58. 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 Diversified Operations industry currently had an average PEG ratio of 1.67 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 80, putting it in the top 32% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.