Raytheon Stock (NYSE:RTX)
On Tuesday, October 25, before the opening of U.S. stock markets, Raytheon Technologies (NYSE:RTX) plans to release its quarterly financial results.
The United States military has given several contracts to the aviation and defense firm in the previous month. One such project is the construction of a cruise missile capable of traveling at velocities five times greater than the speed of sound, for which the Department of Defense has awarded a contract for $985 million.
According to Wolfe Research, which initiated coverage of Raytheon with a Peer Perform rating, Raytheon stock might see a decline in military sales due to supply-chain restrictions. According to the study, aircraft manufacturers are expected to increase income for Raytheon in the long run by purchasing Pratt & Whitney’s GTF jet engine.
Revenue is expected to reach $17.25 billion, up 6.4% from last year’s period. At the same time, earnings per share are predicted to reach $1.14, down 9.7% from last year’s period.
Raytheon stock has consistently outperformed analyst forecasts for profitability and sales in the previous two years.
There have been 2 upward adjustments and 17 negative revisions to EPS estimates during the previous three months. There have been zero upward changes to revenue predictions and seventeen negative revisions.
Compared to the S&P 500 Stock Index’s 22% drop this year through October 21, Raytheon stock price has increased by 1.8%. (SP500).
Featured Image- Megapixl @ Mohammedsoliman4
Author Shariq Khan 
