Trane Technologies plc (NYSE: TT) works in the producer manufacturing sector and is headquartered at Swords, Ireland. It has a market cap of nearly $42.58 Billion, while the net income of Q1 23 was $307.10 Million. The company released its Q1 2023 earnings and revenue results on May 3, which was positive.
As per the results, its earnings per share (EPS) for the quarter are $1.41, whereas the estimation was $1.34, which accounts for a 5.50% surprise. The revenue for the same period amounts to $3.67 Billion despite the estimated figure of $3.64 Billion. Moreover, the estimated EPS for the next quarter are $2.55, while revenue is expected to reach $4.61 Billion.
As per its revenue update, Trane Technologies plc revenue amounted to $15.99 Billion, last year. Most of which around $10.93 Billion came from its highest performing source at the moment, Equipment. Notably, the greatest contribution to the revenue figure was made by America as last year it brought Trane Technologies plc $12.64 Billion.
TT Stock Price Analysis
TT stock closed at the price of $186.74, while showing a 0.85% decline in its June 28 trading session. The stock opened at the price of $187.59, which was its high yesterday and noted low at $185.98. The stock price has shown massive price fluctuation with the dominance of bears in the market. However, the stock has previously noted the bull’s dominance in its price.
As the above price chart shows, the stock price was trading quite above from its 20-day moving average. The RSI also surged upside and almost reached the overbought zone which showed the bull’s dominance. But due to the bear’s recent activity in the market, the RSI started following a downtrend.
However, in the recent trading session, the stock price witnessed bear’s dominance which opposes its recent month and week performance.
Analysts have set their one year price target at $194.00 and is nearly 3% up from the recent closing price of TT stock. The maximum estimate offered by the analysts is at $274.00, while the minimum estimate is at $160.00.
TT stock price noted quite good trading volume in the recent month, while most of the time bulls showcase their potential. But with the recent bearish trend, the stock price showed quite loose confidence of investors in the stock price.
