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Honeywell International Inc. (HON) Outpaces Stock Market Gains: What You Should Know
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Honeywell International Inc. (HON - Free Report) closed the most recent trading day at $190.46, moving +0.54% from the previous trading session. This change outpaced the S&P 500's 0.36% gain on the day. Meanwhile, the Dow gained 0.01%, and the Nasdaq, a tech-heavy index, added 1.91%.
Coming into today, shares of the company had lost 3.14% in the past month. In that same time, the Conglomerates sector lost 2.19%, while the S&P 500 gained 1.24%.
Honeywell International Inc. will be looking to display strength as it nears its next earnings release, which is expected to be April 27, 2023. On that day, Honeywell International Inc. is projected to report earnings of $1.92 per share, which would represent year-over-year growth of 0.52%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.49 billion, up 1.4% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.03 per share and revenue of $36.63 billion, which would represent changes of +3.08% and +3.28%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Honeywell International Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.02% lower within the past month. Honeywell International Inc. is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Honeywell International Inc. is currently trading at a Forward P/E ratio of 20.98. This represents a premium compared to its industry's average Forward P/E of 16.79.
Also, we should mention that HON has a PEG ratio of 2.36. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Diversified Operations stocks are, on average, holding a PEG ratio of 1.5 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 76, putting it in the top 31% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Honeywell International Inc. (HON) Outpaces Stock Market Gains: What You Should Know
Honeywell International Inc. (HON - Free Report) closed the most recent trading day at $190.46, moving +0.54% from the previous trading session. This change outpaced the S&P 500's 0.36% gain on the day. Meanwhile, the Dow gained 0.01%, and the Nasdaq, a tech-heavy index, added 1.91%.
Coming into today, shares of the company had lost 3.14% in the past month. In that same time, the Conglomerates sector lost 2.19%, while the S&P 500 gained 1.24%.
Honeywell International Inc. will be looking to display strength as it nears its next earnings release, which is expected to be April 27, 2023. On that day, Honeywell International Inc. is projected to report earnings of $1.92 per share, which would represent year-over-year growth of 0.52%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.49 billion, up 1.4% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.03 per share and revenue of $36.63 billion, which would represent changes of +3.08% and +3.28%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Honeywell International Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.02% lower within the past month. Honeywell International Inc. is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Honeywell International Inc. is currently trading at a Forward P/E ratio of 20.98. This represents a premium compared to its industry's average Forward P/E of 16.79.
Also, we should mention that HON has a PEG ratio of 2.36. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Diversified Operations stocks are, on average, holding a PEG ratio of 1.5 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 76, putting it in the top 31% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.