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Raytheon Technologies (RTX) Stock Moves -1.34%: What You Should Know
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In the latest trading session, Raytheon Technologies (RTX - Free Report) closed at $96.70, marking a -1.34% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.65%. Elsewhere, the Dow lost 1.63%, while the tech-heavy Nasdaq lost 6.65%.
Prior to today's trading, shares of the an aerospace and defense company had lost 2.62% over the past month. This has was narrower than the Aerospace sector's loss of 2.75% and lagged the S&P 500's gain of 0.3% 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%. Our most recent consensus estimate is calling for quarterly revenue of $16.86 billion, up 7.26% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5 per share and revenue of $72.29 billion, which would represent changes of +4.6% and +7.77%, respectively, from the prior year.
Investors might also notice 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.17% higher. Raytheon Technologies is currently a Zacks Rank #3 (Hold).
In terms of valuation, Raytheon Technologies is currently trading at a Forward P/E ratio of 19.59. This represents a discount compared to its industry's average Forward P/E of 22.3.
It is also worth noting that RTX currently has a PEG ratio of 2.35. 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. Aerospace - Defense Equipment stocks are, on average, holding a PEG ratio of 2.38 based on yesterday's closing prices.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Raytheon Technologies (RTX) Stock Moves -1.34%: What You Should Know
In the latest trading session, Raytheon Technologies (RTX - Free Report) closed at $96.70, marking a -1.34% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.65%. Elsewhere, the Dow lost 1.63%, while the tech-heavy Nasdaq lost 6.65%.
Prior to today's trading, shares of the an aerospace and defense company had lost 2.62% over the past month. This has was narrower than the Aerospace sector's loss of 2.75% and lagged the S&P 500's gain of 0.3% 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%. Our most recent consensus estimate is calling for quarterly revenue of $16.86 billion, up 7.26% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5 per share and revenue of $72.29 billion, which would represent changes of +4.6% and +7.77%, respectively, from the prior year.
Investors might also notice 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.17% higher. Raytheon Technologies is currently a Zacks Rank #3 (Hold).
In terms of valuation, Raytheon Technologies is currently trading at a Forward P/E ratio of 19.59. This represents a discount compared to its industry's average Forward P/E of 22.3.
It is also worth noting that RTX currently has a PEG ratio of 2.35. 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. Aerospace - Defense Equipment stocks are, on average, holding a PEG ratio of 2.38 based on yesterday's closing prices.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.