United Technologies (UTX - Free Report) closed the most recent trading day at $138.08, moving +0.01% from the previous trading session. This change outpaced the S&P 500's 0.31% loss on the day. At the same time, the Dow lost 0.52%, and the tech-heavy Nasdaq lost 0.28%.
Prior to today's trading, shares of the maker of elevators, jet engines and other products had gained 11.57% over the past month. This has outpaced the Conglomerates sector's gain of 2.74% and the S&P 500's gain of 2.92% 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 $2.02 per share, which would represent year-over-year growth of 4.4%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $19.24 billion, up 16.52% from the year-ago period.
UTX's full-year Zacks Consensus Estimates are calling for earnings of $8.03 per share and revenue of $77.13 billion. These results would represent year-over-year changes of +5.55% and +15.98%, respectively.
Investors should also note any recent changes to analyst estimates for UTX. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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. The Zacks Consensus EPS estimate has moved 0.17% higher within the past month. UTX is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, UTX is currently trading at a Forward P/E ratio of 17.19. Its industry sports an average Forward P/E of 17.19, so we one might conclude that UTX is trading at a no noticeable deviation comparatively.
Investors should also note that UTX has a PEG ratio of 1.95 right now. 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 Diversified Operations was holding an average PEG ratio of 1.93 at yesterday's closing price.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 36, which puts it in the top 15% 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.