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Honeywell International Inc. (HON) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Honeywell International Inc. (HON - Free Report) closed at $175.04, marking a -1.56% move from the previous day. This change lagged the S&P 500's 1.03% loss on the day. Elsewhere, the Dow lost 1.15%, while the tech-heavy Nasdaq added 0.27%.
Prior to today's trading, shares of the company had lost 5.97% over the past month. This has lagged the Conglomerates sector's loss of 1.78% and the S&P 500's loss of 3.51% 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 October 27, 2022. The company is expected to report EPS of $2.16, up 6.93% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $9.06 billion, up 6.92% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.68 per share and revenue of $35.77 billion, which would represent changes of +7.69% and +4.02%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Honeywell International Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Honeywell International Inc. is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Honeywell International Inc.'s current valuation metrics, including its Forward P/E ratio of 20.49. For comparison, its industry has an average Forward P/E of 15.53, which means Honeywell International Inc. is trading at a premium to the group.
We can also see that HON currently has a PEG ratio of 2.3. 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 1.61 at yesterday's closing price.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 75, putting it in the top 30% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Honeywell International Inc. (HON) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Honeywell International Inc. (HON - Free Report) closed at $175.04, marking a -1.56% move from the previous day. This change lagged the S&P 500's 1.03% loss on the day. Elsewhere, the Dow lost 1.15%, while the tech-heavy Nasdaq added 0.27%.
Prior to today's trading, shares of the company had lost 5.97% over the past month. This has lagged the Conglomerates sector's loss of 1.78% and the S&P 500's loss of 3.51% 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 October 27, 2022. The company is expected to report EPS of $2.16, up 6.93% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $9.06 billion, up 6.92% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.68 per share and revenue of $35.77 billion, which would represent changes of +7.69% and +4.02%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Honeywell International Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Honeywell International Inc. is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Honeywell International Inc.'s current valuation metrics, including its Forward P/E ratio of 20.49. For comparison, its industry has an average Forward P/E of 15.53, which means Honeywell International Inc. is trading at a premium to the group.
We can also see that HON currently has a PEG ratio of 2.3. 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 1.61 at yesterday's closing price.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 75, putting it in the top 30% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.