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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 the most recent trading day at $98.21, moving -0.56% from the previous trading session. This change lagged the S&P 500's daily gain of 0.36%. Meanwhile, the Dow gained 0.01%, and the Nasdaq, a tech-heavy index, added 1.91%.
Heading into today, shares of the an aerospace and defense company had gained 1.4% over the past month, outpacing the Aerospace sector's loss of 2.25% and the S&P 500's gain of 1.24% in that time.
Investors will be hoping for strength from Raytheon Technologies as it approaches its next earnings release, which is expected to be April 25, 2023. 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 $5.03 per share and revenue of $72.29 billion. These results would represent year-over-year changes of +5.23% and +7.77%, respectively.
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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.6% higher. Raytheon Technologies is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that Raytheon Technologies has a Forward P/E ratio of 19.65 right now. This represents a discount compared to its industry's average Forward P/E of 23.88.
Investors should also note that RTX has a PEG ratio of 2.36 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Aerospace - Defense Equipment stocks are, on average, holding a PEG ratio of 2.36 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 68, which puts it in the top 27% 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.
To follow RTX in the coming trading sessions, be sure to utilize Zacks.com.
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Raytheon Technologies (RTX) Stock Sinks As Market Gains: What You Should Know
Raytheon Technologies (RTX - Free Report) closed the most recent trading day at $98.21, moving -0.56% from the previous trading session. This change lagged the S&P 500's daily gain of 0.36%. Meanwhile, the Dow gained 0.01%, and the Nasdaq, a tech-heavy index, added 1.91%.
Heading into today, shares of the an aerospace and defense company had gained 1.4% over the past month, outpacing the Aerospace sector's loss of 2.25% and the S&P 500's gain of 1.24% in that time.
Investors will be hoping for strength from Raytheon Technologies as it approaches its next earnings release, which is expected to be April 25, 2023. 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 $5.03 per share and revenue of $72.29 billion. These results would represent year-over-year changes of +5.23% and +7.77%, respectively.
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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.6% higher. Raytheon Technologies is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that Raytheon Technologies has a Forward P/E ratio of 19.65 right now. This represents a discount compared to its industry's average Forward P/E of 23.88.
Investors should also note that RTX has a PEG ratio of 2.36 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Aerospace - Defense Equipment stocks are, on average, holding a PEG ratio of 2.36 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 68, which puts it in the top 27% 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.
To follow RTX in the coming trading sessions, be sure to utilize Zacks.com.