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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 $98.39, moving +0.44% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.12%. Elsewhere, the Dow gained 0.03%, while the tech-heavy Nasdaq added 5.14%.
Investors will be hoping for strength from Raytheon Technologies as it approaches its next earnings release. On that day, Raytheon Technologies is projected to report earnings of $1.11 per share, which would represent a year-over-year decline of 4.31%. Our most recent consensus estimate is calling for quarterly revenue of $17.54 billion, up 7.53% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.04 per share and revenue of $72.63 billion, which would represent changes of +5.44% and +8.28%, respectively, from the prior 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 0.17% lower. Raytheon Technologies is currently a Zacks Rank #4 (Sell).
Looking at its valuation, Raytheon Technologies is holding a Forward P/E ratio of 19.43. Its industry sports an average Forward P/E of 26.68, so we one might conclude that Raytheon Technologies is trading at a discount comparatively.
Also, we should mention that RTX has a PEG ratio of 2.36. 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. The Aerospace - Defense Equipment industry currently had an average PEG ratio of 2.12 as of yesterday's close.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 112, putting it in the top 45% 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.
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) Outpaces Stock Market Gains: What You Should Know
Raytheon Technologies (RTX - Free Report) closed the most recent trading day at $98.39, moving +0.44% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.12%. Elsewhere, the Dow gained 0.03%, while the tech-heavy Nasdaq added 5.14%.
Investors will be hoping for strength from Raytheon Technologies as it approaches its next earnings release. On that day, Raytheon Technologies is projected to report earnings of $1.11 per share, which would represent a year-over-year decline of 4.31%. Our most recent consensus estimate is calling for quarterly revenue of $17.54 billion, up 7.53% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.04 per share and revenue of $72.63 billion, which would represent changes of +5.44% and +8.28%, respectively, from the prior 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 0.17% lower. Raytheon Technologies is currently a Zacks Rank #4 (Sell).
Looking at its valuation, Raytheon Technologies is holding a Forward P/E ratio of 19.43. Its industry sports an average Forward P/E of 26.68, so we one might conclude that Raytheon Technologies is trading at a discount comparatively.
Also, we should mention that RTX has a PEG ratio of 2.36. 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. The Aerospace - Defense Equipment industry currently had an average PEG ratio of 2.12 as of yesterday's close.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 112, putting it in the top 45% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.