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Raytheon Technologies (RTX) Gains As Market Dips: What You Should Know
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Raytheon Technologies (RTX - Free Report) closed at $97.46 in the latest trading session, marking a +1.52% move from the prior day. This change outpaced the S&P 500's 0.15% loss on the day. Elsewhere, the Dow lost 0.28%, while the tech-heavy Nasdaq added 3.16%.
Heading into today, shares of the an aerospace and defense company had lost 4.58% over the past month, lagging the Aerospace sector's loss of 3.15% and outpacing the S&P 500's loss of 5.39% in that time.
Raytheon Technologies will be looking to display strength as it nears its next earnings release. In that report, analysts expect Raytheon Technologies to post earnings of $1.11 per share. This would mark a year-over-year decline of 3.48%. Meanwhile, our latest consensus estimate is calling for revenue of $16.86 billion, up 7.26% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5 per share and revenue of $72.29 billion. These totals would mark changes of +4.6% and +7.77%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Raytheon Technologies. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Raytheon Technologies is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Raytheon Technologies is holding a Forward P/E ratio of 19.22. For comparison, its industry has an average Forward P/E of 21.87, which means Raytheon Technologies is trading at a discount to the group.
It is also worth noting that RTX currently has a PEG ratio of 2.31. 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. RTX's industry had an average PEG ratio of 2.39 as of yesterday's close.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 149, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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) Gains As Market Dips: What You Should Know
Raytheon Technologies (RTX - Free Report) closed at $97.46 in the latest trading session, marking a +1.52% move from the prior day. This change outpaced the S&P 500's 0.15% loss on the day. Elsewhere, the Dow lost 0.28%, while the tech-heavy Nasdaq added 3.16%.
Heading into today, shares of the an aerospace and defense company had lost 4.58% over the past month, lagging the Aerospace sector's loss of 3.15% and outpacing the S&P 500's loss of 5.39% in that time.
Raytheon Technologies will be looking to display strength as it nears its next earnings release. In that report, analysts expect Raytheon Technologies to post earnings of $1.11 per share. This would mark a year-over-year decline of 3.48%. Meanwhile, our latest consensus estimate is calling for revenue of $16.86 billion, up 7.26% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5 per share and revenue of $72.29 billion. These totals would mark changes of +4.6% and +7.77%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Raytheon Technologies. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Raytheon Technologies is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Raytheon Technologies is holding a Forward P/E ratio of 19.22. For comparison, its industry has an average Forward P/E of 21.87, which means Raytheon Technologies is trading at a discount to the group.
It is also worth noting that RTX currently has a PEG ratio of 2.31. 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. RTX's industry had an average PEG ratio of 2.39 as of yesterday's close.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 149, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.