United Technologies' Restructuring Moves Aid, Costs Drag
Zacks Investment Research | Nov 27, 2018 08:56PM ET
We issued an updated research report on United Technologies Corporation (NYSE:UTX) on Nov 27, 2018.
This conglomerate currently carries a Zacks Rank #3 (Hold). Its market capitalization is approximately $98.3 billion.
A few growth drivers and certain headwinds, which might influence United Technologies, have been discussed below.
Factors Favoring United Technologies
Financial Performance & Bottom-Line Outlook: United Technologies have been delivering impressive results for quite some time now. The company’s average earnings surprise for the last four quarters was a positive 8.23%. This average includes the impact of 6.63% earnings beat recorded in the third quarter of 2018. Further, the bottom line expanded 11.6% on the back of solid sales growth and greater operational efficacy.
United Technologies anticipates adjusted earnings per share of $7.10-$7.20 in 2018. The projection includes the impact of 10 cents of dilution expected from the Rockwell Collins (NYSE:COL), Inc. (AX:COL) buyout. Eliminating the impact of this dilution, United Technologies’ earnings projection of $7.20-$7.30 is higher than $6.65 recorded in 2017.
In the past 60 days, earnings estimates on the stock for 2018 have been increased by six brokerage firms. Currently, the Zacks Consensus Estimate for earnings is pegged at $7.27 for 2018, reflecting growth of 0.8% from the 60-day-ago tally. Moreover, bottom-line estimates represent year-over-year growth of 9.3% for 2018.
United Technologies Corporation Price and Consensus
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