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Honeywell International Inc. (HON) Dips More Than Broader Markets: What You Should Know
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Honeywell International Inc. (HON - Free Report) closed the most recent trading day at $204.01, moving -1.17% from the previous trading session. This change lagged the S&P 500's 0.79% loss on the day. Meanwhile, the Dow lost 1.07%, and the Nasdaq, a tech-heavy index, lost 2.71%.
Prior to today's trading, shares of the company had gained 4.05% over the past month. This has outpaced the Conglomerates sector's gain of 3.76% and lagged the S&P 500's gain of 4.16% in that time.
Wall Street will be looking for positivity from Honeywell International Inc. as it approaches its next earnings report date. This is expected to be July 27, 2023. On that day, Honeywell International Inc. is projected to report earnings of $2.20 per share, which would represent year-over-year growth of 4.76%. Meanwhile, our latest consensus estimate is calling for revenue of $9.16 billion, up 2.33% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.16 per share and revenue of $36.84 billion, which would represent changes of +4.57% and +3.87%, respectively, from the prior 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.1% higher within the past month. Honeywell International Inc. is currently a Zacks Rank #2 (Buy).
Investors should also note Honeywell International Inc.'s current valuation metrics, including its Forward P/E ratio of 22.53. This represents a premium compared to its industry's average Forward P/E of 16.05.
Investors should also note that HON has a PEG ratio of 2.46 right now. 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. Diversified Operations stocks are, on average, holding a PEG ratio of 1.8 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 34% 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) Dips More Than Broader Markets: What You Should Know
Honeywell International Inc. (HON - Free Report) closed the most recent trading day at $204.01, moving -1.17% from the previous trading session. This change lagged the S&P 500's 0.79% loss on the day. Meanwhile, the Dow lost 1.07%, and the Nasdaq, a tech-heavy index, lost 2.71%.
Prior to today's trading, shares of the company had gained 4.05% over the past month. This has outpaced the Conglomerates sector's gain of 3.76% and lagged the S&P 500's gain of 4.16% in that time.
Wall Street will be looking for positivity from Honeywell International Inc. as it approaches its next earnings report date. This is expected to be July 27, 2023. On that day, Honeywell International Inc. is projected to report earnings of $2.20 per share, which would represent year-over-year growth of 4.76%. Meanwhile, our latest consensus estimate is calling for revenue of $9.16 billion, up 2.33% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.16 per share and revenue of $36.84 billion, which would represent changes of +4.57% and +3.87%, respectively, from the prior 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.1% higher within the past month. Honeywell International Inc. is currently a Zacks Rank #2 (Buy).
Investors should also note Honeywell International Inc.'s current valuation metrics, including its Forward P/E ratio of 22.53. This represents a premium compared to its industry's average Forward P/E of 16.05.
Investors should also note that HON has a PEG ratio of 2.46 right now. 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. Diversified Operations stocks are, on average, holding a PEG ratio of 1.8 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 34% 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.