The most recent trading session ended with Honeywell International Inc. (HON) standing at $209.74, reflecting a -0.32% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily loss of 1.07%. Meanwhile, the Dow lost 0.62%, and the Nasdaq, a tech-heavy index, lost 1.71%.
The company's shares have seen an increase of 3.78% over the last month, surpassing the Conglomerates sector's gain of 1.43% and the S&P 500's loss of 7.03%.
Market participants will be closely following the financial results of Honeywell International Inc. in its upcoming release. The company's upcoming EPS is projected at $2.21, signifying a 1.78% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $9.57 billion, showing a 5.16% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $10.34 per share and revenue of $40.31 billion, indicating changes of +4.55% and +4.7%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Honeywell International Inc. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Honeywell International Inc. is holding a Zacks Rank of #4 (Sell) right now.
In terms of valuation, Honeywell International Inc. is currently trading at a Forward P/E ratio of 20.34. For comparison, its industry has an average Forward P/E of 15.59, which means Honeywell International Inc. is trading at a premium to the group.
Also, we should mention that HON has a PEG ratio of 2.56. 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. HON's industry had an average PEG ratio of 1.92 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This industry, currently bearing a Zacks Industry Rank of 52, finds itself in the top 21% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
