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Honeywell International Inc. (HON) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Honeywell International Inc. (HON - Free Report) closed at $200.66, marking a -1.75% move from the previous day. This change lagged the S&P 500's daily loss of 0.76%. At the same time, the Dow lost 0.76%, and the tech-heavy Nasdaq lost 10.92%.
Heading into today, shares of the company had lost 5.05% over the past month, lagging the Conglomerates sector's gain of 5.14% and the S&P 500's gain of 2.18% in that time.
Honeywell International Inc. will be looking to display strength as it nears its next earnings release, which is expected to be February 2, 2023. On that day, Honeywell International Inc. is projected to report earnings of $2.49 per share, which would represent year-over-year growth of 19.14%. Meanwhile, our latest consensus estimate is calling for revenue of $9.24 billion, up 6.75% from the prior-year quarter.
Any recent changes to analyst estimates for Honeywell International Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 1.09% lower. Honeywell International Inc. is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Honeywell International Inc.'s current valuation metrics, including its Forward P/E ratio of 22.41. Its industry sports an average Forward P/E of 12.82, so we one might conclude that Honeywell International Inc. is trading at a premium comparatively.
It is also worth noting that HON currently has a PEG ratio of 2.5. 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. The Diversified Operations was holding an average PEG ratio of 1.71 at yesterday's closing price.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 172, which puts it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow HON in the coming trading sessions, be sure to utilize Zacks.com.
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Honeywell International Inc. (HON) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Honeywell International Inc. (HON - Free Report) closed at $200.66, marking a -1.75% move from the previous day. This change lagged the S&P 500's daily loss of 0.76%. At the same time, the Dow lost 0.76%, and the tech-heavy Nasdaq lost 10.92%.
Heading into today, shares of the company had lost 5.05% over the past month, lagging the Conglomerates sector's gain of 5.14% and the S&P 500's gain of 2.18% in that time.
Honeywell International Inc. will be looking to display strength as it nears its next earnings release, which is expected to be February 2, 2023. On that day, Honeywell International Inc. is projected to report earnings of $2.49 per share, which would represent year-over-year growth of 19.14%. Meanwhile, our latest consensus estimate is calling for revenue of $9.24 billion, up 6.75% from the prior-year quarter.
Any recent changes to analyst estimates for Honeywell International Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 1.09% lower. Honeywell International Inc. is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Honeywell International Inc.'s current valuation metrics, including its Forward P/E ratio of 22.41. Its industry sports an average Forward P/E of 12.82, so we one might conclude that Honeywell International Inc. is trading at a premium comparatively.
It is also worth noting that HON currently has a PEG ratio of 2.5. 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. The Diversified Operations was holding an average PEG ratio of 1.71 at yesterday's closing price.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 172, which puts it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow HON in the coming trading sessions, be sure to utilize Zacks.com.