Q3 United Technologies Corporation (NYSE:UTX)'s $2.04 profits exceed forecast

Reported profits for United Technologies Corporation (NYSE:UTX)'s September third quarter were higher than the Thomson Reuters I/B/E/S mean estimate and were above the range expected by Wall Street. The company's earnings of $2.04 per share are an increase from the prior year like quarter when the company earned $1.55. Net income was forecasted by analysts to range from $1.76 to $1.89 per share and had a projected mean of $1.81 per share. Results for the company have exceeded the Thomson Reuters I/B/E/S expected mean estimate in each of the past four quarters.RECOMMENDATIONS

• A Buy is the consensus recommendation.
• The recommendations from twenty-two analysts include three Strong Buy, twelve Buy and seven Hold.
• A Buy is the average consensus recommendation for the Multi-Industry Capital Goods peer group.

FORECAST CHANGES

• Before the earnings announcement, the mean estimate was a profit of $1.81 per share
• Twenty analysts are currently providing Thomson Reuters I/B/E/S with estimates.
• In the last four weeks, there were two upward revisions to estimates and five downward revisions.
• The mean EPS estimate has not moved in the last four weeks.
• Four weeks ago, the high estimate was $1.89 and $1.76 was the low estimate.

YEAR OVER YEAR

• Earnings for the peer group are expected to fall over the same quarter last year and have been revised downward over the last four weeks.

United Technologies Corporation (NYSE:UTX) is trading up .54% today to $102.02.