In the latest trading session, United Technologies (UTX) closed at $109.95, marking a -0.42% move from the previous day. This change lagged the S&P 500's 0.02% loss on the day. At the same time, the Dow lost 0.03%, and the tech-heavy Nasdaq lost 0.21%.
Heading into today, shares of the maker of elevators, jet engines and other products had lost 7.41% over the past month, lagging the Conglomerates sector's gain of 2.25% and the S&P 500's loss of 1.4% in that time.
UTX will be looking to display strength as it nears its next earnings release, which is expected to be January 23, 2019. On that day, UTX is projected to report earnings of $1.50 per share, which would represent a year-over-year decline of 6.25%. Our most recent consensus estimate is calling for quarterly revenue of $16.59 billion, up 5.81% from the year-ago period.
Any recent changes to analyst estimates for UTX should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. UTX is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note UTX's current valuation metrics, including its Forward P/E ratio of 14.32. This represents a no noticeable deviation compared to its industry's average Forward P/E of 14.32.
Meanwhile, UTX's PEG ratio is currently 1.56. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Diversified Operations industry currently had an average PEG ratio of 1.66 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 112, which puts it in the top 44% 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.