United Technologies (UTX - Free Report) closed at $125.15 in the latest trading session, marking a -1.36% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.9%. At the same time, the Dow lost 1.77%, and the tech-heavy Nasdaq lost 2.5%.
Heading into today, shares of the maker of elevators, jet engines and other products had gained 0.44% over the past month, lagging the Conglomerates sector's gain of 4.45% and the S&P 500's gain of 3.04% in that time.
UTX will be looking to display strength as it nears its next earnings release. On that day, UTX is projected to report earnings of $1.77 per share, which would represent no growth from the year-ago period. Meanwhile, our latest consensus estimate is calling for revenue of $18.08 billion, up 18.61% from the prior-year quarter.
UTX's full-year Zacks Consensus Estimates are calling for earnings of $7.93 per share and revenue of $77.01 billion. These results would represent year-over-year changes of +4.2% and +15.81%, respectively.
It is also important to note the recent changes to analyst estimates for UTX. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.24% higher. UTX currently has a Zacks Rank of #2 (Buy).
In terms of valuation, UTX is currently trading at a Forward P/E ratio of 16.01. This valuation marks a discount compared to its industry's average Forward P/E of 16.56.
Meanwhile, UTX's PEG ratio is currently 1.82. 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. Diversified Operations stocks are, on average, holding a PEG ratio of 1.88 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 87, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.