United Technologies closed at $149.46 in the latest trading session, marking a +0.26% move from the prior day. The stock lagged the S&P 500's daily gain of 0.72%. Meanwhile, the Dow gained 0.36%, and the Nasdaq, a tech-heavy index, added 0.91%.
Heading into today, shares of the maker of elevators, jet engines and other products had gained 0.65% over the past month, lagging the Conglomerates sector's gain of 1.14% and the S&P 500's gain of 2.64% in that time.
UTX will be looking to display strength as it nears its next earnings release. In that report, analysts expect UTX to post earnings of $1.84 per share. This would mark a year-over-year decline of 5.64%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $19.33 billion, up 7.12% from the year-ago period.
UTX's full-year Zacks Consensus Estimates are calling for earnings of $8.14 per share and revenue of $76.84 billion. These results would represent year-over-year changes of +6.96% and +15.55%, respectively.
Investors should also note any recent changes to analyst estimates for UTX. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. UTX is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, UTX is currently trading at a Forward P/E ratio of 18.32. Its industry sports an average Forward P/E of 17.66, so we one might conclude that UTX is trading at a premium comparatively.
We can also see that UTX currently has a PEG ratio of 2.08. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Diversified Operations was holding an average PEG ratio of 2.08 at yesterday's closing price.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 88, putting it in the top 35% 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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United Technologies (UTX) Gains But Lags Market: What You Should Know
United Technologies closed at $149.46 in the latest trading session, marking a +0.26% move from the prior day. The stock lagged the S&P 500's daily gain of 0.72%. Meanwhile, the Dow gained 0.36%, and the Nasdaq, a tech-heavy index, added 0.91%.
Heading into today, shares of the maker of elevators, jet engines and other products had gained 0.65% over the past month, lagging the Conglomerates sector's gain of 1.14% and the S&P 500's gain of 2.64% in that time.
UTX will be looking to display strength as it nears its next earnings release. In that report, analysts expect UTX to post earnings of $1.84 per share. This would mark a year-over-year decline of 5.64%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $19.33 billion, up 7.12% from the year-ago period.
UTX's full-year Zacks Consensus Estimates are calling for earnings of $8.14 per share and revenue of $76.84 billion. These results would represent year-over-year changes of +6.96% and +15.55%, respectively.
Investors should also note any recent changes to analyst estimates for UTX. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. UTX is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, UTX is currently trading at a Forward P/E ratio of 18.32. Its industry sports an average Forward P/E of 17.66, so we one might conclude that UTX is trading at a premium comparatively.
We can also see that UTX currently has a PEG ratio of 2.08. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Diversified Operations was holding an average PEG ratio of 2.08 at yesterday's closing price.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 88, putting it in the top 35% 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.