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RTX (RTX) Stock Slides as Market Rises: Facts to Know Before You Trade
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RTX (RTX - Free Report) closed the most recent trading day at $154.22, moving -2.09% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.21%. Elsewhere, the Dow gained 0.25%, while the tech-heavy Nasdaq added 0.45%.
Coming into today, shares of the an aerospace and defense company had gained 1.72% in the past month. In that same time, the Aerospace sector gained 0.08%, while the S&P 500 gained 3.07%.
The investment community will be closely monitoring the performance of RTX in its forthcoming earnings report. On that day, RTX is projected to report earnings of $1.41 per share, which would represent a year-over-year decline of 2.76%. Meanwhile, the latest consensus estimate predicts the revenue to be $21.4 billion, indicating a 6.53% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.93 per share and revenue of $85.69 billion, indicating changes of +3.49% and +6.13%, respectively, compared to the previous year.
Any recent changes to analyst estimates for RTX should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. RTX currently has a Zacks Rank of #3 (Hold).
With respect to valuation, RTX is currently being traded at a Forward P/E ratio of 26.55. This signifies a premium in comparison to the average Forward P/E of 25.93 for its industry.
We can also see that RTX currently has a PEG ratio of 2.9. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Aerospace - Defense stocks are, on average, holding a PEG ratio of 1.99 based on yesterday's closing prices.
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 68, putting it in the top 28% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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RTX (RTX) Stock Slides as Market Rises: Facts to Know Before You Trade
RTX (RTX - Free Report) closed the most recent trading day at $154.22, moving -2.09% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.21%. Elsewhere, the Dow gained 0.25%, while the tech-heavy Nasdaq added 0.45%.
Coming into today, shares of the an aerospace and defense company had gained 1.72% in the past month. In that same time, the Aerospace sector gained 0.08%, while the S&P 500 gained 3.07%.
The investment community will be closely monitoring the performance of RTX in its forthcoming earnings report. On that day, RTX is projected to report earnings of $1.41 per share, which would represent a year-over-year decline of 2.76%. Meanwhile, the latest consensus estimate predicts the revenue to be $21.4 billion, indicating a 6.53% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.93 per share and revenue of $85.69 billion, indicating changes of +3.49% and +6.13%, respectively, compared to the previous year.
Any recent changes to analyst estimates for RTX should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. RTX currently has a Zacks Rank of #3 (Hold).
With respect to valuation, RTX is currently being traded at a Forward P/E ratio of 26.55. This signifies a premium in comparison to the average Forward P/E of 25.93 for its industry.
We can also see that RTX currently has a PEG ratio of 2.9. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Aerospace - Defense stocks are, on average, holding a PEG ratio of 1.99 based on yesterday's closing prices.
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 68, putting it in the top 28% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.