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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 the most recent trading day at $97.53, moving +1.86% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.89%. At the same time, the Dow added 1.2%, and the tech-heavy Nasdaq lost 0.68%.
Coming into today, shares of the an aerospace and defense company had lost 5.67% in the past month. In that same time, the Aerospace sector lost 5.82%, while the S&P 500 lost 3.9%.
Wall Street will be looking for positivity from Raytheon Technologies as it approaches its next earnings report date. 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%. Our most recent consensus estimate is calling for quarterly revenue of $16.86 billion, up 7.26% from the year-ago period.
RTX's full-year Zacks Consensus Estimates are calling for earnings of $5 per share and revenue of $72.29 billion. These results would represent year-over-year changes of +4.6% and +7.77%, respectively.
Investors should also note any recent changes to analyst estimates for Raytheon Technologies. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Raytheon Technologies is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Raytheon Technologies currently has a Forward P/E ratio of 19.17. This valuation marks a discount compared to its industry's average Forward P/E of 21.45.
Also, we should mention that RTX has a PEG ratio of 2.3. 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. Aerospace - Defense Equipment stocks are, on average, holding a PEG ratio of 2.33 based on yesterday's closing prices.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 39% 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) Outpaces Stock Market Gains: What You Should Know
Raytheon Technologies (RTX - Free Report) closed the most recent trading day at $97.53, moving +1.86% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.89%. At the same time, the Dow added 1.2%, and the tech-heavy Nasdaq lost 0.68%.
Coming into today, shares of the an aerospace and defense company had lost 5.67% in the past month. In that same time, the Aerospace sector lost 5.82%, while the S&P 500 lost 3.9%.
Wall Street will be looking for positivity from Raytheon Technologies as it approaches its next earnings report date. 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%. Our most recent consensus estimate is calling for quarterly revenue of $16.86 billion, up 7.26% from the year-ago period.
RTX's full-year Zacks Consensus Estimates are calling for earnings of $5 per share and revenue of $72.29 billion. These results would represent year-over-year changes of +4.6% and +7.77%, respectively.
Investors should also note any recent changes to analyst estimates for Raytheon Technologies. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Raytheon Technologies is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Raytheon Technologies currently has a Forward P/E ratio of 19.17. This valuation marks a discount compared to its industry's average Forward P/E of 21.45.
Also, we should mention that RTX has a PEG ratio of 2.3. 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. Aerospace - Defense Equipment stocks are, on average, holding a PEG ratio of 2.33 based on yesterday's closing prices.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 39% 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.