Honeywell International Inc. (HON) Dips More Than Broader Markets: What You Should Know
Honeywell International Inc. (HON) closed at $193.62 in the latest trading session, marking a -1.39% move from the prior day. This move lagged the S&P 500's daily loss of 0.63%. Elsewhere, the Dow lost 0.67%, while the tech-heavy Nasdaq lost 0.15%.
Heading into today, shares of the company had lost 0.26% over the past month, lagging the Conglomerates sector's gain of 4.44% and the S&P 500's gain of 0.89% in that time.
Investors will be hoping for strength from Honeywell International Inc. as it approaches its next earnings release. On that day, Honeywell International Inc. is projected to report earnings of $2.03 per share, which would represent year-over-year growth of 0.5%. Meanwhile, our latest consensus estimate is calling for revenue of $8.72 billion, down 1.03% from the prior-year quarter.
HON's full-year Zacks Consensus Estimates are calling for earnings of $8.69 per share and revenue of $35.97 billion. These results would represent year-over-year changes of +7.82% and +4.59%, respectively.
Investors might also notice 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.
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.
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 0.77% higher. Honeywell International Inc. is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Honeywell International Inc. is holding a Forward P/E ratio of 22.59. This valuation marks a premium compared to its industry's average Forward P/E of 15.44.
Meanwhile, HON's PEG ratio is currently 2.34. 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 1.29 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 73, putting it in the top 29% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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