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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 $206.47, moving +1.96% from the previous trading session. This change outpaced the S&P 500's 0.45% gain on the day. Elsewhere, the Dow gained 0.8%, while the tech-heavy Nasdaq added 1.99%.
Coming into today, shares of the company had gained 5.69% in the past month. In that same time, the Conglomerates sector gained 3.89%, while the S&P 500 gained 4.25%.
Honeywell International Inc. will be looking to display strength as it nears its next earnings release, which is expected to be July 27, 2023. In that report, analysts expect Honeywell International Inc. to post earnings of $2.20 per share. This would mark year-over-year growth of 4.76%. Meanwhile, our latest consensus estimate is calling for revenue of $9.15 billion, up 2.23% from the prior-year quarter.
HON's full-year Zacks Consensus Estimates are calling for earnings of $9.16 per share and revenue of $36.78 billion. These results would represent year-over-year changes of +4.57% and +3.7%, respectively.
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.
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 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. Within the past 30 days, our consensus EPS projection has moved 0.02% higher. Honeywell International Inc. is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Honeywell International Inc. currently has a Forward P/E ratio of 22.12. For comparison, its industry has an average Forward P/E of 15.79, which means Honeywell International Inc. is trading at a premium to the group.
Also, we should mention that HON has a PEG ratio of 2.41. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. HON's industry had an average PEG ratio of 1.79 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 166, putting it in the bottom 35% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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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 $206.47, moving +1.96% from the previous trading session. This change outpaced the S&P 500's 0.45% gain on the day. Elsewhere, the Dow gained 0.8%, while the tech-heavy Nasdaq added 1.99%.
Coming into today, shares of the company had gained 5.69% in the past month. In that same time, the Conglomerates sector gained 3.89%, while the S&P 500 gained 4.25%.
Honeywell International Inc. will be looking to display strength as it nears its next earnings release, which is expected to be July 27, 2023. In that report, analysts expect Honeywell International Inc. to post earnings of $2.20 per share. This would mark year-over-year growth of 4.76%. Meanwhile, our latest consensus estimate is calling for revenue of $9.15 billion, up 2.23% from the prior-year quarter.
HON's full-year Zacks Consensus Estimates are calling for earnings of $9.16 per share and revenue of $36.78 billion. These results would represent year-over-year changes of +4.57% and +3.7%, respectively.
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.
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 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. Within the past 30 days, our consensus EPS projection has moved 0.02% higher. Honeywell International Inc. is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Honeywell International Inc. currently has a Forward P/E ratio of 22.12. For comparison, its industry has an average Forward P/E of 15.79, which means Honeywell International Inc. is trading at a premium to the group.
Also, we should mention that HON has a PEG ratio of 2.41. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. HON's industry had an average PEG ratio of 1.79 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 166, putting it in the bottom 35% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.