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Honeywell International Inc. (HON) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Honeywell International Inc. (HON - Free Report) closed at $187.99, marking a -0.09% move from the previous day. This change lagged the S&P 500's daily gain of 0.17%. At the same time, the Dow added 0.6%, and the tech-heavy Nasdaq gained 0.67%.
Coming into today, shares of the company had lost 2.02% in the past month. In that same time, the Conglomerates sector lost 0.6%, while the S&P 500 gained 0.25%.
Honeywell International Inc. will be looking to display strength as it nears its next earnings release. In that report, analysts expect Honeywell International Inc. to post earnings of $1.92 per share. This would mark year-over-year growth of 0.52%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.49 billion, up 1.39% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.03 per share and revenue of $36.63 billion. These totals would mark changes of +3.08% and +3.28%, respectively, from last 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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. Within the past 30 days, our consensus EPS projection has moved 0.02% lower. 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 20.83. For comparison, its industry has an average Forward P/E of 16.1, which means Honeywell International Inc. is trading at a premium to the group.
Meanwhile, HON's PEG ratio is currently 2.34. 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. The Diversified Operations was holding an average PEG ratio of 1.41 at yesterday's closing price.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 97, putting it in the top 39% 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.