Honeywell International Inc. (HON) closed at $211.70 in the latest trading session, marking a -1.17% move from the prior day. This change lagged the S&P 500's daily gain of 0.3%. Elsewhere, the Dow saw a downswing of 0.48%, while the tech-heavy Nasdaq appreciated by 0.03%.
Coming into today, shares of the company had lost 1.29% in the past month. In that same time, the Conglomerates sector gained 0.05%, while the S&P 500 gained 2.09%.
The investment community will be closely monitoring the performance of Honeywell International Inc. in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $2.56, reflecting a 0.78% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $10.05 billion, indicating a 3.28% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $10.51 per share and a revenue of $40.7 billion, demonstrating changes of +6.27% and +5.72%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Honeywell International Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.1% decrease. Honeywell International Inc. is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, Honeywell International Inc. is presently trading at a Forward P/E ratio of 20.38. For comparison, its industry has an average Forward P/E of 19.17, which means Honeywell International Inc. is trading at a premium to the group.
Investors should also note that HON has a PEG ratio of 2.43 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Diversified Operations stocks are, on average, holding a PEG ratio of 2.13 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 161, putting it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Honeywell International Inc. (HON): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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