News

RTX (RTX) closed the latest trading day at $100.71, indicating a -0.04% change from the previous session's end. The stock exceeded the S&P 500, which registered a loss of 0.22% for the day. At the same time, the Dow added 0.06%, and the tech-heavy Nasdaq lost 0.52%.

The an aerospace and defense company's shares have seen an increase of 6.22% over the last month, surpassing the Aerospace sector's loss of 4.97% and the S&P 500's loss of 1.66%.

The investment community will be closely monitoring the performance of RTX in its forthcoming earnings report. The company is scheduled to release its earnings on April 23, 2024. In that report, analysts expect RTX to post earnings of $1.23 per share. This would mark year-over-year growth of 0.82%. In the meantime, our current consensus estimate forecasts the revenue to be $18.41 billion, indicating a 6.96% growth compared to the corresponding quarter of the prior year.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.39 per share and revenue of $78.63 billion. These totals would mark changes of +6.52% and +5.67%, respectively, from last year.

Any recent changes to analyst estimates for RTX should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.09% higher. RTX is currently sporting a Zacks Rank of #3 (Hold).

Investors should also note RTX's current valuation metrics, including its Forward P/E ratio of 18.68. This represents a premium compared to its industry's average Forward P/E of 17.91.

It is also worth noting that RTX currently has a PEG ratio of 1.83. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Aerospace - Defense industry had an average PEG ratio of 1.83.

The Aerospace - Defense industry is part of the Aerospace sector. With its current Zacks Industry Rank of 93, this industry ranks in the top 37% of all industries, numbering over 250.

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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