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Raytheon Technologies (RTX) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Raytheon Technologies (RTX - Free Report) closed at $91.76, marking a -0.86% move from the previous day. This change lagged the S&P 500's daily gain of 0.95%. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq gained 0.23%.
Heading into today, shares of the an aerospace and defense company had lost 1.07% over the past month, lagging the Aerospace sector's gain of 1.42% and outpacing the S&P 500's loss of 3.49% in that time.
Wall Street will be looking for positivity from Raytheon Technologies as it approaches its next earnings report date. The company is expected to report EPS of $1.13, up 9.71% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $16.46 billion, up 3.68% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.77 per share and revenue of $68.09 billion. These totals would mark changes of +11.71% and +5.75%, respectively, from last year.
Any recent changes to analyst estimates for Raytheon Technologies should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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. 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 #3 (Hold) right now.
Investors should also note Raytheon Technologies's current valuation metrics, including its Forward P/E ratio of 19.4. For comparison, its industry has an average Forward P/E of 19.94, which means Raytheon Technologies is trading at a discount to the group.
We can also see that RTX currently has a PEG ratio of 1.85. 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. The Aerospace - Defense Equipment industry currently had an average PEG ratio of 2 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 88, which puts it in the top 35% 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
In the latest trading session, Raytheon Technologies (RTX - Free Report) closed at $91.76, marking a -0.86% move from the previous day. This change lagged the S&P 500's daily gain of 0.95%. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq gained 0.23%.
Heading into today, shares of the an aerospace and defense company had lost 1.07% over the past month, lagging the Aerospace sector's gain of 1.42% and outpacing the S&P 500's loss of 3.49% in that time.
Wall Street will be looking for positivity from Raytheon Technologies as it approaches its next earnings report date. The company is expected to report EPS of $1.13, up 9.71% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $16.46 billion, up 3.68% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.77 per share and revenue of $68.09 billion. These totals would mark changes of +11.71% and +5.75%, respectively, from last year.
Any recent changes to analyst estimates for Raytheon Technologies should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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. 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 #3 (Hold) right now.
Investors should also note Raytheon Technologies's current valuation metrics, including its Forward P/E ratio of 19.4. For comparison, its industry has an average Forward P/E of 19.94, which means Raytheon Technologies is trading at a discount to the group.
We can also see that RTX currently has a PEG ratio of 1.85. 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. The Aerospace - Defense Equipment industry currently had an average PEG ratio of 2 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 88, which puts it in the top 35% 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.