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Honeywell International Inc. (HON) Gains As Market Dips: What You Should Know
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Honeywell International Inc. (HON - Free Report) closed at $203.44 in the latest trading session, marking a +1.02% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.45%. Meanwhile, the Dow experienced a drop of 0.63%, and the technology-dominated Nasdaq saw a decrease of 0.78%.
The company's shares have seen a decrease of 12.23% over the last month, not keeping up with the Conglomerates sector's loss of 9.14% and the S&P 500's loss of 1.99%.
The upcoming earnings release of Honeywell International Inc. will be of great interest to investors. The company's earnings per share (EPS) are projected to be $2.16, reflecting a 61.7% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $5.05 billion, indicating a 51.45% decrease compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $8.29 per share and revenue of $20.31 billion, indicating changes of -57.62% and -49.64%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Honeywell International Inc. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.42% higher. Honeywell International Inc. currently has a Zacks Rank of #3 (Hold).
Looking at valuation, Honeywell International Inc. is presently trading at a Forward P/E ratio of 24.3. This indicates a premium in contrast to its industry's Forward P/E of 13.96.
One should further note that HON currently holds a PEG ratio of 3.37. 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. By the end of yesterday's trading, the Diversified Operations industry had an average PEG ratio of 1.34.
The Diversified Operations industry is part of the Conglomerates sector. This industry, currently bearing a Zacks Industry Rank of 59, finds itself in the top 24% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
View the Zacks #1 Rank List
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Honeywell International Inc. (HON) Gains As Market Dips: What You Should Know
Honeywell International Inc. (HON - Free Report) closed at $203.44 in the latest trading session, marking a +1.02% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.45%. Meanwhile, the Dow experienced a drop of 0.63%, and the technology-dominated Nasdaq saw a decrease of 0.78%.
The company's shares have seen a decrease of 12.23% over the last month, not keeping up with the Conglomerates sector's loss of 9.14% and the S&P 500's loss of 1.99%.
The upcoming earnings release of Honeywell International Inc. will be of great interest to investors. The company's earnings per share (EPS) are projected to be $2.16, reflecting a 61.7% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $5.05 billion, indicating a 51.45% decrease compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $8.29 per share and revenue of $20.31 billion, indicating changes of -57.62% and -49.64%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Honeywell International Inc. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.42% higher. Honeywell International Inc. currently has a Zacks Rank of #3 (Hold).
Looking at valuation, Honeywell International Inc. is presently trading at a Forward P/E ratio of 24.3. This indicates a premium in contrast to its industry's Forward P/E of 13.96.
One should further note that HON currently holds a PEG ratio of 3.37. 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. By the end of yesterday's trading, the Diversified Operations industry had an average PEG ratio of 1.34.
The Diversified Operations industry is part of the Conglomerates sector. This industry, currently bearing a Zacks Industry Rank of 59, finds itself in the top 24% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.