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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 at $100.74 in the latest trading session, marking a -1.94% move from the prior day. This change lagged the S&P 500's 1.86% gain on the day. Elsewhere, the Dow gained 1.79%, while the tech-heavy Nasdaq added 0.4%.
Heading into today, shares of the an aerospace and defense company had gained 13.23% over the past month, outpacing the Aerospace sector's gain of 9.89% and the S&P 500's loss of 5.05% in that time.
Raytheon Technologies will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.03, up 14.44% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $16.09 billion, up 5.53% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.79 per share and revenue of $68.79 billion. These totals would mark changes of +12.18% and +6.84%, respectively, from last year.
Any recent changes to analyst estimates for Raytheon Technologies should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 remained stagnant. Raytheon Technologies is holding a Zacks Rank of #4 (Sell) right now.
Looking at its valuation, Raytheon Technologies is holding a Forward P/E ratio of 21.46. This valuation marks a discount compared to its industry's average Forward P/E of 22.87.
Also, we should mention that RTX has a PEG ratio of 2.11. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. RTX's industry had an average PEG ratio of 4.66 as of yesterday's close.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 211, putting it in the bottom 17% 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) Stock Sinks As Market Gains: What You Should Know
Raytheon Technologies (RTX - Free Report) closed at $100.74 in the latest trading session, marking a -1.94% move from the prior day. This change lagged the S&P 500's 1.86% gain on the day. Elsewhere, the Dow gained 1.79%, while the tech-heavy Nasdaq added 0.4%.
Heading into today, shares of the an aerospace and defense company had gained 13.23% over the past month, outpacing the Aerospace sector's gain of 9.89% and the S&P 500's loss of 5.05% in that time.
Raytheon Technologies will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.03, up 14.44% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $16.09 billion, up 5.53% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.79 per share and revenue of $68.79 billion. These totals would mark changes of +12.18% and +6.84%, respectively, from last year.
Any recent changes to analyst estimates for Raytheon Technologies should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 remained stagnant. Raytheon Technologies is holding a Zacks Rank of #4 (Sell) right now.
Looking at its valuation, Raytheon Technologies is holding a Forward P/E ratio of 21.46. This valuation marks a discount compared to its industry's average Forward P/E of 22.87.
Also, we should mention that RTX has a PEG ratio of 2.11. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. RTX's industry had an average PEG ratio of 4.66 as of yesterday's close.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 211, putting it in the bottom 17% 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.