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Honeywell International Inc. (HON) Gains As Market Dips: What You Should Know
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Honeywell International Inc. (HON - Free Report) closed at $210.67 in the latest trading session, marking a +0.19% move from the prior day. This change outpaced the S&P 500's 0.08% loss on the day. At the same time, the Dow lost 0.34%, and the tech-heavy Nasdaq gained 11.55%.
Heading into today, shares of the company had lost 0.64% over the past month, outpacing the Conglomerates sector's loss of 2.37% and the S&P 500's loss of 1.03% in that time.
Honeywell International Inc. will be looking to display strength as it nears its next earnings release, which is expected to be February 2, 2023. In that report, analysts expect Honeywell International Inc. to post earnings of $2.50 per share. This would mark year-over-year growth of 19.62%. Our most recent consensus estimate is calling for quarterly revenue of $9.25 billion, up 6.86% from the year-ago period.
Any recent changes to analyst estimates for Honeywell International Inc. should also be noted by investors. 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. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. 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 22.82. This represents a premium compared to its industry's average Forward P/E of 12.79.
Meanwhile, HON's PEG ratio is currently 2.67. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Diversified Operations industry currently had an average PEG ratio of 1.68 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 158, which puts it in the bottom 38% 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.
To follow HON in the coming trading sessions, be sure to utilize Zacks.com.
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Honeywell International Inc. (HON) Gains As Market Dips: What You Should Know
Honeywell International Inc. (HON - Free Report) closed at $210.67 in the latest trading session, marking a +0.19% move from the prior day. This change outpaced the S&P 500's 0.08% loss on the day. At the same time, the Dow lost 0.34%, and the tech-heavy Nasdaq gained 11.55%.
Heading into today, shares of the company had lost 0.64% over the past month, outpacing the Conglomerates sector's loss of 2.37% and the S&P 500's loss of 1.03% in that time.
Honeywell International Inc. will be looking to display strength as it nears its next earnings release, which is expected to be February 2, 2023. In that report, analysts expect Honeywell International Inc. to post earnings of $2.50 per share. This would mark year-over-year growth of 19.62%. Our most recent consensus estimate is calling for quarterly revenue of $9.25 billion, up 6.86% from the year-ago period.
Any recent changes to analyst estimates for Honeywell International Inc. should also be noted by investors. 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. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. 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 22.82. This represents a premium compared to its industry's average Forward P/E of 12.79.
Meanwhile, HON's PEG ratio is currently 2.67. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Diversified Operations industry currently had an average PEG ratio of 1.68 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 158, which puts it in the bottom 38% 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.
To follow HON in the coming trading sessions, be sure to utilize Zacks.com.