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Honeywell International Inc. (HON) Stock Sinks As Market Gains: What You Should Know
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Honeywell International Inc. (HON - Free Report) closed at $205.25 in the latest trading session, marking a -1.4% move from the prior day. This change lagged the S&P 500's daily gain of 0.71%. Elsewhere, the Dow gained 1.06%, while the tech-heavy Nasdaq added 4.62%.
Heading into today, shares of the company had gained 2.56% over the past month, outpacing the Conglomerates sector's gain of 1.56% and lagging the S&P 500's gain of 2.65% 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. The company is expected to report EPS of $2.20, up 4.76% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $9.17 billion, up 2.4% from the prior-year quarter.
HON's full-year Zacks Consensus Estimates are calling for earnings of $9.16 per share and revenue of $36.87 billion. These results would represent year-over-year changes of +4.57% and +3.96%, respectively.
Any recent changes to analyst estimates for Honeywell International Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.1% higher. Honeywell International Inc. is currently a Zacks Rank #2 (Buy).
Looking at its valuation, Honeywell International Inc. is holding a Forward P/E ratio of 22.72. Its industry sports an average Forward P/E of 16.28, so we one might conclude that Honeywell International Inc. is trading at a premium comparatively.
Also, we should mention that HON 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. Diversified Operations stocks are, on average, holding a PEG ratio of 1.9 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 104, which puts it in the top 42% 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) Stock Sinks As Market Gains: What You Should Know
Honeywell International Inc. (HON - Free Report) closed at $205.25 in the latest trading session, marking a -1.4% move from the prior day. This change lagged the S&P 500's daily gain of 0.71%. Elsewhere, the Dow gained 1.06%, while the tech-heavy Nasdaq added 4.62%.
Heading into today, shares of the company had gained 2.56% over the past month, outpacing the Conglomerates sector's gain of 1.56% and lagging the S&P 500's gain of 2.65% 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. The company is expected to report EPS of $2.20, up 4.76% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $9.17 billion, up 2.4% from the prior-year quarter.
HON's full-year Zacks Consensus Estimates are calling for earnings of $9.16 per share and revenue of $36.87 billion. These results would represent year-over-year changes of +4.57% and +3.96%, respectively.
Any recent changes to analyst estimates for Honeywell International Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.1% higher. Honeywell International Inc. is currently a Zacks Rank #2 (Buy).
Looking at its valuation, Honeywell International Inc. is holding a Forward P/E ratio of 22.72. Its industry sports an average Forward P/E of 16.28, so we one might conclude that Honeywell International Inc. is trading at a premium comparatively.
Also, we should mention that HON 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. Diversified Operations stocks are, on average, holding a PEG ratio of 1.9 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 104, which puts it in the top 42% 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.