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Trane Technologies (TT) Outperforms Broader Market: What You Need to Know
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In the latest trading session, Trane Technologies (TT - Free Report) closed at $437.41, marking a +1.18% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.52%. Elsewhere, the Dow gained 0.63%, while the tech-heavy Nasdaq added 0.48%.
The manufacturer's shares have seen an increase of 0.47% over the last month, not keeping up with the Construction sector's gain of 1.98% and the S&P 500's gain of 4.27%.
Market participants will be closely following the financial results of Trane Technologies in its upcoming release. The company is expected to report EPS of $3.76, up 13.94% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $5.76 billion, showing a 8.49% escalation compared to the year-ago quarter.
TT's full-year Zacks Consensus Estimates are calling for earnings of $12.89 per share and revenue of $21.51 billion. These results would represent year-over-year changes of +14.88% and +8.41%, respectively.
Investors might also notice recent changes to analyst estimates for Trane Technologies. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Trane Technologies boasts a Zacks Rank of #3 (Hold).
Looking at valuation, Trane Technologies is presently trading at a Forward P/E ratio of 33.55. This denotes a premium relative to the industry average Forward P/E of 30.74.
We can also see that TT currently has a PEG ratio of 2.84. 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. The Building Products - Air Conditioner and Heating industry had an average PEG ratio of 2.09 as trading concluded yesterday.
The Building Products - Air Conditioner and Heating industry is part of the Construction sector. This group has a Zacks Industry Rank of 192, putting it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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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Trane Technologies (TT) Outperforms Broader Market: What You Need to Know
In the latest trading session, Trane Technologies (TT - Free Report) closed at $437.41, marking a +1.18% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.52%. Elsewhere, the Dow gained 0.63%, while the tech-heavy Nasdaq added 0.48%.
The manufacturer's shares have seen an increase of 0.47% over the last month, not keeping up with the Construction sector's gain of 1.98% and the S&P 500's gain of 4.27%.
Market participants will be closely following the financial results of Trane Technologies in its upcoming release. The company is expected to report EPS of $3.76, up 13.94% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $5.76 billion, showing a 8.49% escalation compared to the year-ago quarter.
TT's full-year Zacks Consensus Estimates are calling for earnings of $12.89 per share and revenue of $21.51 billion. These results would represent year-over-year changes of +14.88% and +8.41%, respectively.
Investors might also notice recent changes to analyst estimates for Trane Technologies. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Trane Technologies boasts a Zacks Rank of #3 (Hold).
Looking at valuation, Trane Technologies is presently trading at a Forward P/E ratio of 33.55. This denotes a premium relative to the industry average Forward P/E of 30.74.
We can also see that TT currently has a PEG ratio of 2.84. 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. The Building Products - Air Conditioner and Heating industry had an average PEG ratio of 2.09 as trading concluded yesterday.
The Building Products - Air Conditioner and Heating industry is part of the Construction sector. This group has a Zacks Industry Rank of 192, putting it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.