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Honeywell International Inc. (HON) Stock Moves -0.8%: What You Should Know
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In the latest trading session, Honeywell International Inc. (HON - Free Report) closed at $181.14, marking a -0.8% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.37%. Elsewhere, the Dow lost 1.29%, while the tech-heavy Nasdaq lost 1.87%.
Heading into today, shares of the company had lost 3.07% over the past month, outpacing the Conglomerates sector's loss of 10.56% and the S&P 500's loss of 4.93% in that time.
Honeywell International Inc. will be looking to display strength as it nears its next earnings release, which is expected to be October 26, 2023. On that day, Honeywell International Inc. is projected to report earnings of $2.22 per share, which would represent a year-over-year decline of 1.33%. Meanwhile, our latest consensus estimate is calling for revenue of $9.22 billion, up 3% from the prior-year quarter.
HON's full-year Zacks Consensus Estimates are calling for earnings of $9.15 per share and revenue of $37.4 billion. These results would represent year-over-year changes of +4.45% and +5.46%, respectively.
Investors should also note any recent changes to analyst estimates for Honeywell International Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate has moved 0.07% lower within the past month. Honeywell International Inc. currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Honeywell International Inc. is currently trading at a Forward P/E ratio of 19.95. Its industry sports an average Forward P/E of 15.55, so we one might conclude that Honeywell International Inc. is trading at a premium comparatively.
Also, we should mention that HON has a PEG ratio of 2.31. 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. HON's industry had an average PEG ratio of 1.85 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 176, which puts it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Stock Moves -0.8%: What You Should Know
In the latest trading session, Honeywell International Inc. (HON - Free Report) closed at $181.14, marking a -0.8% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.37%. Elsewhere, the Dow lost 1.29%, while the tech-heavy Nasdaq lost 1.87%.
Heading into today, shares of the company had lost 3.07% over the past month, outpacing the Conglomerates sector's loss of 10.56% and the S&P 500's loss of 4.93% in that time.
Honeywell International Inc. will be looking to display strength as it nears its next earnings release, which is expected to be October 26, 2023. On that day, Honeywell International Inc. is projected to report earnings of $2.22 per share, which would represent a year-over-year decline of 1.33%. Meanwhile, our latest consensus estimate is calling for revenue of $9.22 billion, up 3% from the prior-year quarter.
HON's full-year Zacks Consensus Estimates are calling for earnings of $9.15 per share and revenue of $37.4 billion. These results would represent year-over-year changes of +4.45% and +5.46%, respectively.
Investors should also note any recent changes to analyst estimates for Honeywell International Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate has moved 0.07% lower within the past month. Honeywell International Inc. currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Honeywell International Inc. is currently trading at a Forward P/E ratio of 19.95. Its industry sports an average Forward P/E of 15.55, so we one might conclude that Honeywell International Inc. is trading at a premium comparatively.
Also, we should mention that HON has a PEG ratio of 2.31. 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. HON's industry had an average PEG ratio of 1.85 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 176, which puts it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.