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Honeywell International Inc. (HON) Dips More Than Broader Markets: What You Should Know
Honeywell International Inc. (HON - Free Report) closed at $176.86 in the latest trading session, marking a -1.73% move from the prior day. This change lagged the S&P 500's 1.13% loss on the day. At the same time, the Dow lost 0.56%, and the tech-heavy Nasdaq gained 0.16%.
Prior to today's trading, shares of the company had lost 11.25% over the past month. This has lagged the Conglomerates sector's loss of 9.75% and the S&P 500's loss of 7.59% in that time.
Investors will be hoping for strength from Honeywell International Inc. as it approaches its next earnings release. On that day, Honeywell International Inc. is projected to report earnings of $2.16 per share, which would represent year-over-year growth of 6.93%. Our most recent consensus estimate is calling for quarterly revenue of $9.06 billion, up 6.93% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.68 per share and revenue of $35.81 billion, which would represent changes of +7.69% and +4.13%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Honeywell International Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 0.12% higher. Honeywell International Inc. is currently a Zacks Rank #3 (Hold).
Investors should also note Honeywell International Inc.'s current valuation metrics, including its Forward P/E ratio of 20.74. For comparison, its industry has an average Forward P/E of 15.89, which means Honeywell International Inc. is trading at a premium to the group.
Investors should also note that HON has a PEG ratio of 2.17 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. HON's industry had an average PEG ratio of 1.61 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.