United Technologies Corp. (UTX) Releases FY14 Earnings Guidance
United Technologies Corp. (NYSE:UTX) updated its FY14 earnings guidance on Wednesday. The company provided earnings per share guidance of $6.55-6.85 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $6.82, American Banking & Market News reports. The company issued revenue guidance of ~$64 billion, compared to the consensus revenue estimate of $65.35 billion.
Several analysts have recently commented on the stock. Analysts at Morgan Stanley reiterated an overweight rating on shares of United Technologies Corp. in a research note to investors on Thursday, January 16th. They now have a $121.00 price target on the stock. On a related note, analysts at Citigroup Inc. downgraded shares of United Technologies Corp. from a buy rating to a neutral rating in a research note to investors on Wednesday, January 8th. They now have a $125.00 price target on the stock, up previously from $124.00. Finally, analysts at TheStreet reiterated a buy rating on shares of United Technologies Corp. in a research note to investors on Sunday, January 5th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $117.09.
Shares of United Technologies Corp. (NYSE:UTX) traded up 0.92% during mid-day trading on Wednesday, hitting $116.05. 1,734,340 shares of the company’s stock traded hands. United Technologies Corp. has a one year low of $86.81 and a one year high of $115.98. The stock’s 50-day moving average is $111.5 and its 200-day moving average is $107.1. The company has a market cap of $106.5 billion and a price-to-earnings ratio of 16.62.
United Technologies Corp. (NYSE:UTX) last announced its earnings results on Wednesday, January 22nd. The company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.06. The company had revenue of $16.80 billion for the quarter, compared to the consensus estimate of $17.09 billion. During the same quarter in the previous year, the company posted $1.04 earnings per share. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. Analysts expect that United Technologies Corp. will post $6.16 EPS for the current fiscal year.
United Technologies Corporation (NYSE:UTX) provides high technology products and services to the building systems and aerospace industries worldwide.
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