Yahoo Finance Honeywell International Inc. (HON) Stock Falls Amid Market Uptick: What Investors Need to Know
In the latest market close, Honeywell International Inc. (HON) reached $204.24, with a -0.21% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 0.03% for the day. At the same time, the Dow lost 0.04%, and the tech-heavy Nasdaq gained 0.2%.
The the stock of company has risen by 2.83% in the past month, leading the Conglomerates sector's loss of 8.79% and the S&P 500's gain of 1.54%.
The upcoming earnings release of Honeywell International Inc. will be of great interest to investors. On that day, Honeywell International Inc. is projected to report earnings of $2.52 per share, which would represent year-over-year growth of 11.01%. In the meantime, our current consensus estimate forecasts the revenue to be $9.9 billion, indicating a 7.51% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $10.14 per share and revenue of $39.11 billion. These totals would mark changes of +10.7% and +6.69%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Honeywell International Inc. These revisions help to show the ever-changing nature of near-term business trends. 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. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.14% decrease. Honeywell International Inc. presently features a Zacks Rank of #3 (Hold).
Looking at valuation, Honeywell International Inc. is presently trading at a Forward P/E ratio of 20.19. This expresses a premium compared to the average Forward P/E of 18.69 of its industry.
We can also see that HON currently has a PEG ratio of 2.33. 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. The Diversified Operations industry had an average PEG ratio of 1.76 as trading concluded yesterday.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 40, putting it in the top 16% 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.
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
