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Raytheon Technologies (RTX) Stock Sinks As Market Gains: What You Should Know
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Raytheon Technologies (RTX - Free Report) closed the most recent trading day at $61.41, moving -1.27% from the previous trading session. This change lagged the S&P 500's 0.84% gain on the day. Meanwhile, the Dow gained 0.03%, and the Nasdaq, a tech-heavy index, added 2.51%.
Prior to today's trading, shares of the an aerospace and defense company had lost 7% over the past month. This has lagged the Aerospace sector's loss of 6.86% and the S&P 500's gain of 3.73% in that time.
Investors will be hoping for strength from RTX as it approaches its next earnings release, which is expected to be July 28, 2020. On that day, RTX is projected to report earnings of $0.10 per share, which would represent a year-over-year decline of 95.45%. Our most recent consensus estimate is calling for quarterly revenue of $13.98 billion, down 28.78% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.05 per share and revenue of $62.64 billion. These totals would mark changes of -63.08% and -18.7%, respectively, from last year.
Any recent changes to analyst estimates for RTX should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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. Over the past month, the Zacks Consensus EPS estimate has moved 11.4% lower. RTX is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note RTX's current valuation metrics, including its Forward P/E ratio of 20.39. This represents a discount compared to its industry's average Forward P/E of 25.82.
We can also see that RTX currently has a PEG ratio of 1.7. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Aerospace - Defense Equipment industry currently had an average PEG ratio of 6.31 as of yesterday's close.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 217, putting it in the bottom 15% 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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Raytheon Technologies (RTX) Stock Sinks As Market Gains: What You Should Know
Raytheon Technologies (RTX - Free Report) closed the most recent trading day at $61.41, moving -1.27% from the previous trading session. This change lagged the S&P 500's 0.84% gain on the day. Meanwhile, the Dow gained 0.03%, and the Nasdaq, a tech-heavy index, added 2.51%.
Prior to today's trading, shares of the an aerospace and defense company had lost 7% over the past month. This has lagged the Aerospace sector's loss of 6.86% and the S&P 500's gain of 3.73% in that time.
Investors will be hoping for strength from RTX as it approaches its next earnings release, which is expected to be July 28, 2020. On that day, RTX is projected to report earnings of $0.10 per share, which would represent a year-over-year decline of 95.45%. Our most recent consensus estimate is calling for quarterly revenue of $13.98 billion, down 28.78% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.05 per share and revenue of $62.64 billion. These totals would mark changes of -63.08% and -18.7%, respectively, from last year.
Any recent changes to analyst estimates for RTX should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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. Over the past month, the Zacks Consensus EPS estimate has moved 11.4% lower. RTX is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note RTX's current valuation metrics, including its Forward P/E ratio of 20.39. This represents a discount compared to its industry's average Forward P/E of 25.82.
We can also see that RTX currently has a PEG ratio of 1.7. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Aerospace - Defense Equipment industry currently had an average PEG ratio of 6.31 as of yesterday's close.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 217, putting it in the bottom 15% 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.