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Raytheon Technologies (RTX) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Raytheon Technologies (RTX - Free Report) closed at $96.39, marking a -0.79% move from the previous day. This move lagged the S&P 500's daily gain of 0.03%. Meanwhile, the Dow gained 0.01%, and the Nasdaq, a tech-heavy index, lost 1.37%.
Heading into today, shares of the an aerospace and defense company had gained 0.25% over the past month, lagging the Aerospace sector's gain of 0.82% and the S&P 500's gain of 3.43% in that time.
Wall Street will be looking for positivity from Raytheon Technologies as it approaches its next earnings report date. This is expected to be July 25, 2023. In that report, analysts expect Raytheon Technologies to post earnings of $1.17 per share. This would mark year-over-year growth of 0.86%. Meanwhile, our latest consensus estimate is calling for revenue of $17.54 billion, up 7.53% from the prior-year quarter.
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.
Any recent changes to analyst estimates for Raytheon Technologies should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.07% lower. Raytheon Technologies is currently sporting a Zacks Rank of #4 (Sell).
Looking at its valuation, Raytheon Technologies is holding a Forward P/E ratio of 19.28. Its industry sports an average Forward P/E of 26.49, so we one might conclude that Raytheon Technologies is trading at a discount comparatively.
We can also see that RTX currently has a PEG ratio of 2.34. 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. The Aerospace - Defense Equipment was holding an average PEG ratio of 2.08 at yesterday's closing price.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 180, which puts it in the bottom 29% 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) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Raytheon Technologies (RTX - Free Report) closed at $96.39, marking a -0.79% move from the previous day. This move lagged the S&P 500's daily gain of 0.03%. Meanwhile, the Dow gained 0.01%, and the Nasdaq, a tech-heavy index, lost 1.37%.
Heading into today, shares of the an aerospace and defense company had gained 0.25% over the past month, lagging the Aerospace sector's gain of 0.82% and the S&P 500's gain of 3.43% in that time.
Wall Street will be looking for positivity from Raytheon Technologies as it approaches its next earnings report date. This is expected to be July 25, 2023. In that report, analysts expect Raytheon Technologies to post earnings of $1.17 per share. This would mark year-over-year growth of 0.86%. Meanwhile, our latest consensus estimate is calling for revenue of $17.54 billion, up 7.53% from the prior-year quarter.
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.
Any recent changes to analyst estimates for Raytheon Technologies should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.07% lower. Raytheon Technologies is currently sporting a Zacks Rank of #4 (Sell).
Looking at its valuation, Raytheon Technologies is holding a Forward P/E ratio of 19.28. Its industry sports an average Forward P/E of 26.49, so we one might conclude that Raytheon Technologies is trading at a discount comparatively.
We can also see that RTX currently has a PEG ratio of 2.34. 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. The Aerospace - Defense Equipment was holding an average PEG ratio of 2.08 at yesterday's closing price.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 180, which puts it in the bottom 29% 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.