Honeywell International Inc. (HON) Dips More Than Broader Markets: What You Should Know
Honeywell International Inc. (HON) closed the most recent trading day at $172.79, moving -0.48% from the previous trading session. This move lagged the S&P 500's daily loss of 0.33%. Meanwhile, the Dow lost 0.1%, and the Nasdaq, a tech-heavy index, lost 0.25%.
Heading into today, shares of the company had lost 6.14% over the past month, outpacing the Conglomerates sector's loss of 11.57% and the S&P 500's loss of 11.67% in that time.
Investors will be hoping for strength from Honeywell International Inc. as it approaches its next earnings release, which is expected to be October 27, 2022. On that day, Honeywell International Inc. is projected to report earnings of $2.16 per share, which would represent year-over-year growth of 6.93%. Meanwhile, our latest consensus estimate is calling for revenue of $9.06 billion, up 6.94% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.68 per share and revenue of $35.78 billion. These totals would mark changes of +7.69% and +4.04%, respectively, from last year.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 0.02% lower within the past month. Honeywell International Inc. is currently a Zacks Rank #3 (Hold).
Investors should also note Honeywell International Inc.'s current valuation metrics, including its Forward P/E ratio of 20.01. This represents a premium compared to its industry's average Forward P/E of 14.5.
It is also worth noting that HON currently has a PEG ratio of 2.25. 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. HON's industry had an average PEG ratio of 1.53 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 90, putting it in the top 36% 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.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Honeywell International Inc. (HON) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
