Yahoo Finance Honeywell International Inc. (HON) Gains As Market Dips: What You Should Know
In the latest trading session, Honeywell International Inc. (HON) closed at $196.55, marking a +0.33% move from the previous day. This move outpaced the S&P 500's daily loss of 0.21%. Meanwhile, the Dow lost 0.42%, and the Nasdaq, a tech-heavy index, lost 0.64%.
Heading into today, shares of the company had gained 3.57% over the past month, outpacing the Conglomerates sector's gain of 3.48% and lagging the S&P 500's gain of 7.71% 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 April 27, 2023. In that report, analysts expect Honeywell International Inc. to post earnings of $1.93 per share. This would mark year-over-year growth of 1.05%. Our most recent consensus estimate is calling for quarterly revenue of $8.5 billion, up 1.46% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.03 per share and revenue of $36.63 billion. These totals would mark changes of +3.08% and +3.29%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Honeywell International Inc.These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating 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 #3 (Hold) right now.
Looking at its valuation, Honeywell International Inc. is holding a Forward P/E ratio of 21.69. Its industry sports an average Forward P/E of 16.41, so we one might conclude that Honeywell International Inc. is trading at a premium comparatively.
It is also worth noting that HON currently has a PEG ratio of 2.41. 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. Diversified Operations stocks are, on average, holding a PEG ratio of 1.53 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 74, putting it in the top 30% 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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Honeywell International Inc. (HON) : Free Stock Analysis Report
