In the latest market close, Honeywell International Inc. (HON) reached $222.02, with a +1.13% movement compared to the previous day. The stock outpaced the S&P 500’s daily gain of 0.4%. At the same time, the Dow added 0.09%, and the tech-heavy Nasdaq gained 0.63%.
Prior to today’s trading, shares of the company had gained 7.78% over the past month. This has outpaced the Conglomerates sector’s gain of 4.73% and the S&P 500’s gain of 3.76% in that time.
Market participants will be closely following the financial results of Honeywell International Inc. in its upcoming release. The company plans to announce its earnings on October 24, 2024. The company’s earnings per share (EPS) are projected to be $2.51, reflecting a 10.57% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $9.9 billion, up 7.43% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $10.10 per share and a revenue of $38.98 billion, signifying shifts of +10.26% and +6.33%, respectively, from the last year.
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 a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.12% lower. Honeywell International Inc. presently features a Zacks Rank of #4 (Sell).
Looking at its valuation, Honeywell International Inc. is holding a Forward P/E ratio of 21.75. Its industry sports an average Forward P/E of 18.16, so one might conclude that Honeywell International Inc. is trading at a premium comparatively.
Meanwhile, HON’s PEG ratio is currently 2.52. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company’s expected earnings growth trajectory. As of the close of trade yesterday, the Diversified Operations industry held an average PEG ratio of 1.91.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 94, which puts it in the top 38% 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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Honeywell International Inc. (HON) : Free Stock Analysis Report
