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Raytheon Technologies (RTX) Dips More Than Broader Markets: What You Should Know
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Raytheon Technologies (RTX - Free Report) closed the most recent trading day at $60.35, moving -1.45% from the previous trading session. This change lagged the S&P 500's 0.22% loss on the day. Meanwhile, the Dow lost 0.35%, and the Nasdaq, a tech-heavy index, lost 0.28%.
Heading into today, shares of the an aerospace and defense company had gained 2.43% over the past month, outpacing the Aerospace sector's loss of 2.55% and lagging the S&P 500's gain of 3.82% in that time.
RTX will be looking to display strength as it nears its next earnings release, which is expected to be October 27, 2020. On that day, RTX is projected to report earnings of $0.48 per share, which would represent a year-over-year decline of 78.28%. Our most recent consensus estimate is calling for quarterly revenue of $15.13 billion, down 22.38% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.85 per share and revenue of $64.28 billion. These totals would mark changes of -65.5% and -16.57%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for RTX. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 0.41% lower. RTX is currently sporting a Zacks Rank of #4 (Sell).
Digging into valuation, RTX currently has a Forward P/E ratio of 21.49. This represents a discount compared to its industry's average Forward P/E of 28.33.
Investors should also note that RTX has a PEG ratio of 1.79 right now. 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 8.28 as of yesterday's close.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 227, which puts it in the bottom 11% 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) Dips More Than Broader Markets: What You Should Know
Raytheon Technologies (RTX - Free Report) closed the most recent trading day at $60.35, moving -1.45% from the previous trading session. This change lagged the S&P 500's 0.22% loss on the day. Meanwhile, the Dow lost 0.35%, and the Nasdaq, a tech-heavy index, lost 0.28%.
Heading into today, shares of the an aerospace and defense company had gained 2.43% over the past month, outpacing the Aerospace sector's loss of 2.55% and lagging the S&P 500's gain of 3.82% in that time.
RTX will be looking to display strength as it nears its next earnings release, which is expected to be October 27, 2020. On that day, RTX is projected to report earnings of $0.48 per share, which would represent a year-over-year decline of 78.28%. Our most recent consensus estimate is calling for quarterly revenue of $15.13 billion, down 22.38% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.85 per share and revenue of $64.28 billion. These totals would mark changes of -65.5% and -16.57%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for RTX. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 0.41% lower. RTX is currently sporting a Zacks Rank of #4 (Sell).
Digging into valuation, RTX currently has a Forward P/E ratio of 21.49. This represents a discount compared to its industry's average Forward P/E of 28.33.
Investors should also note that RTX has a PEG ratio of 1.79 right now. 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 8.28 as of yesterday's close.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 227, which puts it in the bottom 11% 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.