Zacks: Analysts Expect United Technologies Co. (NYSE:UTX) Will Announce Earnings of $2.03 Per Share

Equities research analysts expect United Technologies Co. (NYSE:UTX) to announce earnings of $2.03 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for United Technologies’ earnings, with estimates ranging from $1.95 to $2.08. United Technologies posted earnings per share of $1.97 in the same quarter last year, which suggests a positive year over year growth rate of 3%. The company is scheduled to announce its next quarterly earnings report on Tuesday, July 23rd.

On average, analysts expect that United Technologies will report full year earnings of $7.97 per share for the current year, with EPS estimates ranging from $7.90 to $8.00. For the next year, analysts anticipate that the company will post earnings of $8.70 per share, with EPS estimates ranging from $8.40 to $9.00. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for United Technologies.

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

A number of equities analysts have issued reports on UTX shares. JPMorgan Chase & Co. started coverage on shares of United Technologies in a report on Friday, February 22nd. They issued an “overweight” rating and a $132.00 target price on the stock. Zacks Investment Research cut shares of United Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, March 26th. Royal Bank of Canada reissued a “sector perform” rating and issued a $159.00 target price on shares of United Technologies in a report on Wednesday, April 24th. Barclays raised their target price on shares of United Technologies from $142.00 to $149.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. Finally, Seaport Global Securities started coverage on shares of United Technologies in a report on Friday, May 10th. They issued a “neutral” rating and a $136.86 target price on the stock. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. United Technologies has an average rating of “Buy” and a consensus price target of $149.86.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strategy Asset Managers LLC acquired a new position in United Technologies in the first quarter worth approximately $26,000. WESPAC Advisors SoCal LLC bought a new position in United Technologies during the fourth quarter valued at approximately $26,000. Harvest Group Wealth Management LLC bought a new position in shares of United Technologies in the first quarter worth approximately $33,000. Advisory Alpha LLC bought a new position in shares of United Technologies in the first quarter worth approximately $36,000. Finally, Intercontinental Wealth Advisors LLC grew its holdings in shares of United Technologies by 570.0% in the first quarter. Intercontinental Wealth Advisors LLC now owns 335 shares of the conglomerate’s stock worth $43,000 after purchasing an additional 285 shares during the last quarter. 80.67% of the stock is currently owned by institutional investors.

NYSE UTX traded up $0.49 during trading hours on Friday, reaching $125.30. The company’s stock had a trading volume of 3,048,636 shares, compared to its average volume of 3,979,543. The company has a quick ratio of 0.79, a current ratio of 1.13 and a debt-to-equity ratio of 0.98. United Technologies has a 52 week low of $100.48 and a 52 week high of $144.40. The stock has a market capitalization of $106.98 billion, a P/E ratio of 16.47, a P/E/G ratio of 1.77 and a beta of 1.26.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.735 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.35%. United Technologies’s dividend payout ratio (DPR) is presently 38.63%.

About United Technologies

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.

Further Reading: How is diluted EPS different from basic EPS?

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

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