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In the latest market close, RTX (RTX - Free Report) reached $97.55, with a -1.01% movement compared to the previous day. This change lagged the S&P 500's daily gain of 0.11%. At the same time, the Dow lost 0.11%, and the tech-heavy Nasdaq gained 0.23%.
The an aerospace and defense company's shares have seen an increase of 9.43% over the last month, surpassing the Aerospace sector's gain of 2.55% and the S&P 500's gain of 1.5%.
Analysts and investors alike will be keeping a close eye on the performance of RTX in its upcoming earnings disclosure. The company's earnings report is set to go public on April 23, 2024. In that report, analysts expect RTX to post earnings of $1.23 per share. This would mark year-over-year growth of 0.82%. Meanwhile, our latest consensus estimate is calling for revenue of $18.41 billion, up 6.96% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.39 per share and a revenue of $78.63 billion, indicating changes of +6.52% and +5.67%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for RTX. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.04% downward. RTX is currently a Zacks Rank #3 (Hold).
Digging into valuation, RTX currently has a Forward P/E ratio of 18.29. This denotes a discount relative to the industry's average Forward P/E of 18.48.
Investors should also note that RTX has a PEG ratio of 1.8 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Aerospace - Defense industry had an average PEG ratio of 1.87 as trading concluded yesterday.
The Aerospace - Defense industry is part of the Aerospace sector. This industry, currently bearing a Zacks Industry Rank of 96, finds itself in the top 39% echelons 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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RTX (RTX) Stock Sinks As Market Gains: Here's Why
In the latest market close, RTX (RTX - Free Report) reached $97.55, with a -1.01% movement compared to the previous day. This change lagged the S&P 500's daily gain of 0.11%. At the same time, the Dow lost 0.11%, and the tech-heavy Nasdaq gained 0.23%.
The an aerospace and defense company's shares have seen an increase of 9.43% over the last month, surpassing the Aerospace sector's gain of 2.55% and the S&P 500's gain of 1.5%.
Analysts and investors alike will be keeping a close eye on the performance of RTX in its upcoming earnings disclosure. The company's earnings report is set to go public on April 23, 2024. In that report, analysts expect RTX to post earnings of $1.23 per share. This would mark year-over-year growth of 0.82%. Meanwhile, our latest consensus estimate is calling for revenue of $18.41 billion, up 6.96% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.39 per share and a revenue of $78.63 billion, indicating changes of +6.52% and +5.67%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for RTX. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.04% downward. RTX is currently a Zacks Rank #3 (Hold).
Digging into valuation, RTX currently has a Forward P/E ratio of 18.29. This denotes a discount relative to the industry's average Forward P/E of 18.48.
Investors should also note that RTX has a PEG ratio of 1.8 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Aerospace - Defense industry had an average PEG ratio of 1.87 as trading concluded yesterday.
The Aerospace - Defense industry is part of the Aerospace sector. This industry, currently bearing a Zacks Industry Rank of 96, finds itself in the top 39% echelons 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.