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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 at $204.46 in the latest trading session, marking a +1.2% move from the prior day. This change outpaced the S&P 500's 1.19% gain on the day. At the same time, the Dow added 0.76%, and the tech-heavy Nasdaq gained 0.29%.
Heading into today, shares of the company had lost 5.54% over the past month, lagging the Conglomerates sector's gain of 5.1% and the S&P 500's gain of 4.06% in that time.
Investors will be hoping for strength from Honeywell International Inc. as it approaches 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%. Our most recent consensus estimate is calling for quarterly revenue of $9.24 billion, up 6.75% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Honeywell International Inc.Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.09% lower within the past month. Honeywell International Inc. is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Honeywell International Inc. has a Forward P/E ratio of 22.16 right now. Its industry sports an average Forward P/E of 12.51, 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 2.48. 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 industry currently had an average PEG ratio of 1.67 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 199, which puts it in the bottom 22% 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.
You can find more information on all of these metrics, and much 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 at $204.46 in the latest trading session, marking a +1.2% move from the prior day. This change outpaced the S&P 500's 1.19% gain on the day. At the same time, the Dow added 0.76%, and the tech-heavy Nasdaq gained 0.29%.
Heading into today, shares of the company had lost 5.54% over the past month, lagging the Conglomerates sector's gain of 5.1% and the S&P 500's gain of 4.06% in that time.
Investors will be hoping for strength from Honeywell International Inc. as it approaches 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%. Our most recent consensus estimate is calling for quarterly revenue of $9.24 billion, up 6.75% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Honeywell International Inc.Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.09% lower within the past month. Honeywell International Inc. is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Honeywell International Inc. has a Forward P/E ratio of 22.16 right now. Its industry sports an average Forward P/E of 12.51, 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 2.48. 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 industry currently had an average PEG ratio of 1.67 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 199, which puts it in the bottom 22% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.