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Raytheon Technologies (RTX) Outpaces Stock Market Gains: What You Should Know
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Raytheon Technologies (RTX - Free Report) closed at $71.94 in the latest trading session, marking a +1% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.18%. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq lost 0.05%.
Coming into today, shares of the an aerospace and defense company had gained 24.88% in the past month. In that same time, the Aerospace sector gained 23.35%, while the S&P 500 gained 12.12%.
RTX will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.73, down 62.37% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $16.24 billion, down 16.94% from the year-ago period.
RTX's full-year Zacks Consensus Estimates are calling for earnings of $2.78 per share and revenue of $64.28 billion. These results would represent year-over-year changes of -66.34% and -16.56%, respectively.
It is also important to note the recent changes to analyst estimates for RTX. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. RTX is currently sporting a Zacks Rank of #4 (Sell).
Digging into valuation, RTX currently has a Forward P/E ratio of 25.6. Its industry sports an average Forward P/E of 36.14, so we one might conclude that RTX is trading at a discount comparatively.
Meanwhile, RTX's PEG ratio is currently 2.13. 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 10.81 as of yesterday's close.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 198, putting it in the bottom 23% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Raytheon Technologies (RTX) Outpaces Stock Market Gains: What You Should Know
Raytheon Technologies (RTX - Free Report) closed at $71.94 in the latest trading session, marking a +1% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.18%. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq lost 0.05%.
Coming into today, shares of the an aerospace and defense company had gained 24.88% in the past month. In that same time, the Aerospace sector gained 23.35%, while the S&P 500 gained 12.12%.
RTX will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.73, down 62.37% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $16.24 billion, down 16.94% from the year-ago period.
RTX's full-year Zacks Consensus Estimates are calling for earnings of $2.78 per share and revenue of $64.28 billion. These results would represent year-over-year changes of -66.34% and -16.56%, respectively.
It is also important to note the recent changes to analyst estimates for RTX. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. RTX is currently sporting a Zacks Rank of #4 (Sell).
Digging into valuation, RTX currently has a Forward P/E ratio of 25.6. Its industry sports an average Forward P/E of 36.14, so we one might conclude that RTX is trading at a discount comparatively.
Meanwhile, RTX's PEG ratio is currently 2.13. 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 10.81 as of yesterday's close.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 198, putting it in the bottom 23% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.