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Raytheon Technologies (RTX) closed at $99.23 in the latest trading session, marking a -1.27% move from the prior day. This change lagged the S&P 500's daily loss of 1.08%. At the same time, the Dow lost 0.81%, and the tech-heavy Nasdaq gained 0.22%.
Heading into today, shares of the an aerospace and defense company had gained 9.62% over the past month, outpacing the Aerospace sector's gain of 2.42% and the S&P 500's gain of 1.03% in that time.
Raytheon Technologies will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.13, up 9.71% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $16.46 billion, up 3.68% from the year-ago period.
RTX's full-year Zacks Consensus Estimates are calling for earnings of $4.77 per share and revenue of $68.09 billion. These results would represent year-over-year changes of +11.71% and +5.75%, respectively.
Any recent changes to analyst estimates for Raytheon Technologies should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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. 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 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. Within the past 30 days, our consensus EPS projection remained stagnant. Raytheon Technologies is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Raytheon Technologies has a Forward P/E ratio of 21.06 right now. For comparison, its industry has an average Forward P/E of 22.94, which means Raytheon Technologies is trading at a discount to the group.
Meanwhile, RTX'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. RTX's industry had an average PEG ratio of 2.19 as of yesterday's close.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 106, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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Raytheon Technologies Corporation (RTX) : Free Stock Analysis Report
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