Honeywell International Inc. (HON) Stock Moves -0.51%: What You Should Know
In the latest trading session, Honeywell International Inc. (HON) closed at $196.54, marking a -0.51% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.63%. At the same time, the Dow lost 0.19%, and the tech-heavy Nasdaq lost 0.34%.
Coming into today, shares of the company had gained 7.59% in the past month. In that same time, the Conglomerates sector gained 4.04%, while the S&P 500 gained 6.02%.
Investors will be hoping for strength from Honeywell International Inc. as it approaches its next earnings release. In that report, analysts expect Honeywell International Inc. to post earnings of $1.87 per share. This would mark a year-over-year decline of 2.6%. Meanwhile, our latest consensus estimate is calling for revenue of $8.41 billion, down 0.48% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.58 per share and revenue of $36.17 billion. These totals would mark changes of +6.45% and +5.18%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Honeywell International Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.27% lower. Honeywell International Inc. is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Honeywell International Inc. currently has a Forward P/E ratio of 23.03. This represents a premium compared to its industry's average Forward P/E of 17.69.
It is also worth noting that HON currently has a PEG ratio of 2.39. 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. The Diversified Operations was holding an average PEG ratio of 1.47 at yesterday's closing price.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 34% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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