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Trane Technologies (TT) Exceeds Market Returns: Some Facts to Consider
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Trane Technologies (TT - Free Report) closed the most recent trading day at $458.94, moving +1.54% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.2%. Elsewhere, the Dow saw an upswing of 0.04%, while the tech-heavy Nasdaq appreciated by 0.04%.
Shares of the manufacturer have appreciated by 2.95% over the course of the past month, outperforming the Business Services sector's loss of 6.44%, and the S&P 500's loss of 0.35%.
The investment community will be closely monitoring the performance of Trane Technologies in its forthcoming earnings report. The company is expected to report EPS of $4.74, up 22.16% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $6.39 billion, up 11.32% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $15.31 per share and a revenue of $23.66 billion, demonstrating changes of +17.23% and +10.97%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Trane Technologies. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.37% higher. Trane Technologies is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Trane Technologies currently has a Forward P/E ratio of 29.53. Its industry sports an average Forward P/E of 15.89, so one might conclude that Trane Technologies is trading at a premium comparatively.
It's also important to note that TT currently trades at a PEG ratio of 2.16. 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. TT's industry had an average PEG ratio of 1.17 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 182, finds itself in the bottom 27% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
View the Zacks #1 Rank List
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Trane Technologies (TT) Exceeds Market Returns: Some Facts to Consider
Trane Technologies (TT - Free Report) closed the most recent trading day at $458.94, moving +1.54% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.2%. Elsewhere, the Dow saw an upswing of 0.04%, while the tech-heavy Nasdaq appreciated by 0.04%.
Shares of the manufacturer have appreciated by 2.95% over the course of the past month, outperforming the Business Services sector's loss of 6.44%, and the S&P 500's loss of 0.35%.
The investment community will be closely monitoring the performance of Trane Technologies in its forthcoming earnings report. The company is expected to report EPS of $4.74, up 22.16% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $6.39 billion, up 11.32% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $15.31 per share and a revenue of $23.66 billion, demonstrating changes of +17.23% and +10.97%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Trane Technologies. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.37% higher. Trane Technologies is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Trane Technologies currently has a Forward P/E ratio of 29.53. Its industry sports an average Forward P/E of 15.89, so one might conclude that Trane Technologies is trading at a premium comparatively.
It's also important to note that TT currently trades at a PEG ratio of 2.16. 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. TT's industry had an average PEG ratio of 1.17 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 182, finds itself in the bottom 27% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.