Zacks: Analysts Expect United Technologies Co. (NYSE:UTX) to Post $2.03 Earnings Per Share

Equities research analysts expect that United Technologies Co. (NYSE:UTX) will post earnings per share of $2.03 for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for United Technologies’ earnings, with the highest EPS estimate coming in at $2.08 and the lowest estimate coming in at $1.95. United Technologies posted earnings of $1.97 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 3%. The business is expected to issue its next quarterly earnings report on Tuesday, July 23rd.

According to Zacks, analysts expect that United Technologies will report full-year earnings of $7.97 per share for the current financial year, with EPS estimates ranging from $7.90 to $8.00. For the next financial year, analysts expect that the company will report earnings of $8.70 per share, with EPS estimates ranging from $8.40 to $9.00. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow United Technologies.

United Technologies (NYSE:UTX) last issued its earnings results on Tuesday, April 23rd. The conglomerate reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.20. United Technologies had a return on equity of 17.02% and a net margin of 7.64%. The firm had revenue of $18.37 billion for the quarter, compared to the consensus estimate of $18.01 billion. During the same quarter in the previous year, the company posted $1.77 earnings per share. The business’s quarterly revenue was up 20.5% compared to the same quarter last year.

Several analysts have recently issued reports on the company. Vertical Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a research note on Friday, June 14th. Morgan Stanley upped their price target on United Technologies from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Barclays upped their price target on United Technologies from $142.00 to $149.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 24th. Zacks Investment Research upgraded United Technologies from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Finally, Seaport Global Securities assumed coverage on United Technologies in a research note on Friday, May 10th. They set a “neutral” rating and a $136.86 price target for the company. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $150.50.

Shares of UTX traded up $1.23 during trading hours on Friday, hitting $130.20. 5,434,473 shares of the company were exchanged, compared to its average volume of 4,495,173. The company has a market capitalization of $112.27 billion, a P/E ratio of 17.11, a PEG ratio of 1.86 and a beta of 1.26. The company’s 50 day simple moving average is $130.17. United Technologies has a 52 week low of $100.48 and a 52 week high of $144.40. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.79 and a current ratio of 1.13.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 16th will be paid a dividend of $0.735 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.94 annualized dividend and a yield of 2.26%. United Technologies’s payout ratio is 38.63%.

Large investors have recently made changes to their positions in the stock. WESPAC Advisors SoCal LLC bought a new stake in United Technologies during the 4th quarter valued at approximately $26,000. Braun Bostich & Associates Inc. boosted its stake in United Technologies by 73.0% during the 4th quarter. Braun Bostich & Associates Inc. now owns 365 shares of the conglomerate’s stock valued at $39,000 after purchasing an additional 154 shares during the period. Massey Quick Simon & CO. LLC acquired a new position in United Technologies in the 1st quarter valued at approximately $47,000. Sageworth Trust Co acquired a new position in United Technologies in the 1st quarter valued at approximately $50,000. Finally, Financial Gravity Companies Inc. acquired a new position in United Technologies in the 4th quarter valued at approximately $51,000. Hedge funds and other institutional investors own 80.61% of the company’s stock.

United Technologies Company Profile

United Technologies Corporation provides technology products and services to building systems and aerospace industries worldwide. Its Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways; and offers modernization products to upgrade elevators and escalators, as well as maintenance and repair services.

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Earnings History and Estimates for United Technologies (NYSE:UTX)

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