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Here's Why RTX (RTX) Gained But Lagged the Market Today
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In the latest trading session, RTX (RTX - Free Report) closed at $118.11, marking a +0.31% move from the previous day. The stock lagged the S&P 500's daily gain of 0.38%. Elsewhere, the Dow lost 0.25%, while the tech-heavy Nasdaq added 1.24%.
Shares of the an aerospace and defense company witnessed a loss of 0.66% over the previous month, beating the performance of the Aerospace sector with its loss of 1.01% and underperforming the S&P 500's gain of 1.17%.
Investors will be eagerly watching for the performance of RTX in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $1.36, reflecting a 5.43% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $20.57 billion, reflecting a 3.22% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.56 per share and a revenue of $79.75 billion, signifying shifts of +9.88% and +7.18%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for RTX. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.01% higher. Right now, RTX possesses a Zacks Rank of #3 (Hold).
With respect to valuation, RTX is currently being traded at a Forward P/E ratio of 21.19. This represents a premium compared to its industry's average Forward P/E of 18.59.
It is also worth noting that RTX currently has a PEG ratio of 2.08. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Aerospace - Defense industry stood at 1.62 at the close of the market yesterday.
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 160, putting it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Here's Why RTX (RTX) Gained But Lagged the Market Today
In the latest trading session, RTX (RTX - Free Report) closed at $118.11, marking a +0.31% move from the previous day. The stock lagged the S&P 500's daily gain of 0.38%. Elsewhere, the Dow lost 0.25%, while the tech-heavy Nasdaq added 1.24%.
Shares of the an aerospace and defense company witnessed a loss of 0.66% over the previous month, beating the performance of the Aerospace sector with its loss of 1.01% and underperforming the S&P 500's gain of 1.17%.
Investors will be eagerly watching for the performance of RTX in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $1.36, reflecting a 5.43% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $20.57 billion, reflecting a 3.22% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.56 per share and a revenue of $79.75 billion, signifying shifts of +9.88% and +7.18%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for RTX. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.01% higher. Right now, RTX possesses a Zacks Rank of #3 (Hold).
With respect to valuation, RTX is currently being traded at a Forward P/E ratio of 21.19. This represents a premium compared to its industry's average Forward P/E of 18.59.
It is also worth noting that RTX currently has a PEG ratio of 2.08. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Aerospace - Defense industry stood at 1.62 at the close of the market yesterday.
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 160, putting it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.