Honeywell International Inc. (HON) Stock Moves -0.83%: What You Should Know
Honeywell International Inc. (HON) closed at $202.90 in the latest trading session, marking a -0.83% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 1.47%. Meanwhile, the Dow lost 1.27%, and the Nasdaq, a tech-heavy index, lost 1.5%.
The company's stock has climbed by 6.99% in the past month, falling short of the Conglomerates sector's gain of 7.91% and outpacing the S&P 500's gain of 5.77%.
The investment community will be paying close attention to the earnings performance of Honeywell International Inc. in its upcoming release. It is anticipated that the company will report an EPS of $2.59, marking a 2.78% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $9.7 billion, up 5.63% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $9.16 per share and revenue of $36.92 billion, which would represent changes of +4.57% and +4.11%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Honeywell International Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 remained stagnant. As of now, Honeywell International Inc. holds a Zacks Rank of #3 (Hold).
In the context of valuation, Honeywell International Inc. is at present trading with a Forward P/E ratio of 22.34. For comparison, its industry has an average Forward P/E of 17.65, which means Honeywell International Inc. is trading at a premium to the group.
One should further note that HON currently holds a PEG ratio of 2.62. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Diversified Operations was holding an average PEG ratio of 2.49 at yesterday's closing price.
The Diversified Operations industry is part of the Conglomerates sector. This industry, currently bearing a Zacks Industry Rank of 66, finds itself in the top 27% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.
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Honeywell International Inc. (HON) : Free Stock Analysis Report
