In the latest trading session, United Technologies closed at $153.19, marking a -0.4% move from the previous day. This change was narrower than the S&P 500's daily loss of 0.9%. Elsewhere, the Dow lost 0.58%, while the tech-heavy Nasdaq lost 0.93%.
Prior to today's trading, shares of the maker of elevators, jet engines and other products had gained 2.05% over the past month. This has lagged the Conglomerates sector's gain of 2.97% and the S&P 500's gain of 3.3% in that time.
Investors will be hoping for strength from UTX as it approaches its next earnings release, which is expected to be January 28, 2020. 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%. Our most recent consensus estimate is calling for quarterly revenue of $19.42 billion, up 7.65% from the year-ago period.
Any recent changes to analyst estimates for UTX should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. Within the past 30 days, our consensus EPS projection has moved 0.3% lower. UTX is currently a Zacks Rank #4 (Sell).
Looking at its valuation, UTX is holding a Forward P/E ratio of 17.66. This represents a premium compared to its industry's average Forward P/E of 17.09.
Meanwhile, UTX's PEG ratio is currently 2.01. 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. UTX's industry had an average PEG ratio of 2.02 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 187, which puts it in the bottom 27% 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.