Tuesday, September 28, 2021

What to Watch When Raytheon Technologies Corporation [RTX] Reports Quarterly Earnings

Earnings from Raytheon Technologies Corporation [RTX] are scheduled on April 27, 2021, before the market opens. It is expected that the company will report weak earnings for the quarter ending Mar 2021.


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RTX Stock Earnings Outlook For The Current Quarter

The consensus estimates for the quarter suggest that the company would earn $0.88 per share on revenue of $15.36B. Taking a look at the future, the company is projected to report revenue of $15.73B at an earnings per share of $0.85 for the Jun 2021 quarter. The estimates represent year-over-year improvements of 8.60% in revenue and 37.14% in earnings per share for the company.

RTX Stock Earnings Forecast For The Current Year


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For the full financial year, Raytheon Technologies Corporation [NYSE:RTX] is forecasted to generate revenue of $65.41B. The figure is about $8.26 billion above what the company actually reported for the fiscal year 2020. In terms of EPS, it is estimated to be $3.76 in 2021, which is $1.03 higher than the figure in FY20. Based on current estimates, earnings are expected to grow 37.70% this year, 37.20% next year, and 24.00% annually over the next five years. With regard to sales, forecasts suggest an incline of 14.50% in current fiscal year and 8.60% over following year.

RTX Stock Price Performance

At the close of Monday’s session, Raytheon Technologies Corporation [NYSE:RTX] finished up 0.57% at $81.00. The stock’s highest single-day price was $82.07, and its lowest was $80.795. Its price rose 3.07% in the last five days. Since the beginning of the year, Raytheon Technologies Corporation’s shares are up nearly 13.27%. However, the share price is 0.30% below its one year high. The top price reached by the shares of the company was $82.07 on 04/26/21, while the 52-week low came on 01/25/21, when the shares were $65.02. In the past year, shares of the company have risen 27.70%. At 50 days, the moving average achieved is $76.66 while at 200 days, the moving average is $67.60. There were 12.08 million shares traded in the last session, up from 5.19 million in the previous session.

Raytheon Technologies Corporation [NYSE:RTX] Stock Valuation Metrics

Investors may find it helpful to look at historical price-sales ratios, and in the case of this stock, 2.12 PS value ratio is reported for the last one year of reported earnings. This is above the average return 1.59 for the industry, which means RTX offers an unattractive investment opportunity than its competitors do.

RTX Share Price Support And Resistance Levels

Based on the daily chart, the immediate backing lies around the 81.00 level, and the violation of this level will cause a further drop to 80.51 level. At the upper end, 83.06 remains a key resistance. As the stock increases, it may find resistance at 82.56. In the 14-day chart, the Relative Strength Index standing at 65.31 suggests a technical neutral stance while the MACD standing at 1.61 indicates price will increase in the next trading period. Stochastic %K at 82.33% suggests selling the stock while Percent R indicator at 17.83% suggests bullish price movement.

How much is the short interest in Raytheon Technologies Corporation?

There have been a drop in short interest in the Raytheon Technologies Corporation Financial stock, with short interest up by 90000.0 shares to 13.52 million shares on Feb 25, 2021. According to data provided by Yahoo Finance, the short interest on Mar 30, 2021 stood at 13.61 million shares. This -0.67% decrease suggests some bullish sentiment was experienced by the stock. Shorted shares accounted for just 0.90% of the overall float in the stock, while the stock’s days to cover moved to 1.88.

How do analysts view Raytheon Technologies Corporation?

In regard to the share price forecast for Raytheon Technologies Corporation stock, the analysts, as surveyed by FactSet, forecast the price to reach $89.50 in the next twelve months, representing almost an 9.5% growth from its recent price of $81.00. Among Raytheon Technologies Corporation stock projections, $102.00 is the highest analyst target for the stock, while $70.00 is the lowest. Despite this, 21 analysts who share their consensus rating for RTX in 2021 agree that the stock is an Overweight. The latest rating change took place on 4/14/21, when Credit Suisse Ratings launched coverage of the stock at “Outperform” and assigned a price target of $90.0.

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