Raytheon Technologies (RTX - Free Report) closed the most recent trading day at $101.52, moving +1.81% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.41%. At the same time, the Dow lost 0.11%, and the tech-heavy Nasdaq lost 4.08%.
Heading into today, shares of the an aerospace and defense company had gained 1.42% over the past month, outpacing the Aerospace sector's gain of 1.19% and lagging the S&P 500's gain of 6.51% in that time.
Wall Street will be looking for positivity from Raytheon Technologies as it approaches its next earnings report date. This is expected to be April 25, 2023. On that day, Raytheon Technologies is projected to report earnings of $1.11 per share, which would represent a year-over-year decline of 3.48%. Meanwhile, our latest consensus estimate is calling for revenue of $16.86 billion, up 7.26% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.03 per share and revenue of $72.29 billion. These totals would mark changes of +5.23% and +7.77%, respectively, from last year.
It is also important to note the 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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 0.6% higher. Raytheon Technologies is currently a Zacks Rank #2 (Buy).
Digging into valuation, Raytheon Technologies currently has a Forward P/E ratio of 19.84. This represents a discount compared to its industry's average Forward P/E of 24.52.
It is also worth noting that RTX currently has a PEG ratio of 2.38. 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. Aerospace - Defense Equipment stocks are, on average, holding a PEG ratio of 2.38 based on yesterday's closing prices.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 100, putting it in the top 40% 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.
To follow RTX in the coming trading sessions, be sure to utilize Zacks.com.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
Raytheon Technologies (RTX - Free Report) closed the most recent trading day at $101.52, moving +1.81% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.41%. At the same time, the Dow lost 0.11%, and the tech-heavy Nasdaq lost 4.08%.
Heading into today, shares of the an aerospace and defense company had gained 1.42% over the past month, outpacing the Aerospace sector's gain of 1.19% and lagging the S&P 500's gain of 6.51% in that time.
Wall Street will be looking for positivity from Raytheon Technologies as it approaches its next earnings report date. This is expected to be April 25, 2023. On that day, Raytheon Technologies is projected to report earnings of $1.11 per share, which would represent a year-over-year decline of 3.48%. Meanwhile, our latest consensus estimate is calling for revenue of $16.86 billion, up 7.26% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.03 per share and revenue of $72.29 billion. These totals would mark changes of +5.23% and +7.77%, respectively, from last year.
It is also important to note the 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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 0.6% higher. Raytheon Technologies is currently a Zacks Rank #2 (Buy).
Digging into valuation, Raytheon Technologies currently has a Forward P/E ratio of 19.84. This represents a discount compared to its industry's average Forward P/E of 24.52.
It is also worth noting that RTX currently has a PEG ratio of 2.38. 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. Aerospace - Defense Equipment stocks are, on average, holding a PEG ratio of 2.38 based on yesterday's closing prices.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 100, putting it in the top 40% 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.
To follow RTX in the coming trading sessions, be sure to utilize Zacks.com.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
Get the latest research report on RTX - FREE