Honeywell International Inc. (HON) Flat As Market Sinks: What You Should Know
Honeywell International Inc. (HON) closed at $214.30 in the latest trading session, marking no change from the prior day. This move was narrower than the S&P 500's daily loss of 0.4%. At the same time, the Dow lost 0.03%, and the tech-heavy Nasdaq lost 4.72%.
Prior to today's trading, shares of the company had lost 0.6% over the past month. This has was narrower than the Conglomerates sector's loss of 3.55% and the S&P 500's loss of 5.57% 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 $2.50 per share, which would represent year-over-year growth of 19.62%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.25 billion, up 6.86% from the year-ago period.
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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Honeywell International Inc. is holding a Zacks Rank of #4 (Sell) right now.
Investors should also note Honeywell International Inc.'s current valuation metrics, including its Forward P/E ratio of 24.52. Its industry sports an average Forward P/E of 14.46, so we one might conclude that Honeywell International Inc. is trading at a premium comparatively.
Investors should also note that HON has a PEG ratio of 2.87 right now. 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. The Diversified Operations was holding an average PEG ratio of 1.73 at yesterday's closing price.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 164, putting it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many 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
