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Honeywell International Inc. (HON) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Honeywell International Inc. (HON - Free Report) closed at $208.59, marking a +0.3% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.03%. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq lost 1.37%.
Heading into today, shares of the company had gained 3.64% over the past month, lagging the Conglomerates sector's gain of 4.4% and outpacing the S&P 500's gain of 3.43% 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, the Zacks Consensus Estimate for revenue is projecting net sales of $9.17 billion, up 2.44% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.16 per share and revenue of $36.87 billion. These totals would mark changes of +4.57% and +3.96%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Honeywell International Inc.These revisions help to show the ever-changing nature of near-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. 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. Within the past 30 days, our consensus EPS projection has moved 0.08% higher. Honeywell International Inc. is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Honeywell International Inc.'s current valuation metrics, including its Forward P/E ratio of 22.69. This represents a premium compared to its industry's average Forward P/E of 16.28.
We can also see that HON currently has a PEG ratio of 2.48. 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. 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 107, which puts it in the top 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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
In the latest trading session, Honeywell International Inc. (HON - Free Report) closed at $208.59, marking a +0.3% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.03%. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq lost 1.37%.
Heading into today, shares of the company had gained 3.64% over the past month, lagging the Conglomerates sector's gain of 4.4% and outpacing the S&P 500's gain of 3.43% 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, the Zacks Consensus Estimate for revenue is projecting net sales of $9.17 billion, up 2.44% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.16 per share and revenue of $36.87 billion. These totals would mark changes of +4.57% and +3.96%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Honeywell International Inc.These revisions help to show the ever-changing nature of near-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. 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. Within the past 30 days, our consensus EPS projection has moved 0.08% higher. Honeywell International Inc. is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Honeywell International Inc.'s current valuation metrics, including its Forward P/E ratio of 22.69. This represents a premium compared to its industry's average Forward P/E of 16.28.
We can also see that HON currently has a PEG ratio of 2.48. 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. 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 107, which puts it in the top 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.