Honeywell International Inc. (HON) closed at $220.21 in the latest trading session, marking a +0.8% move from the prior day. This change outpaced the S&P 500’s 1.39% loss on the day. On the other hand, the Dow registered a gain of 0.6%, and the technology-centric Nasdaq decreased by 2.77%.
The company’s shares have seen an increase of 2.63% over the last month, surpassing the Conglomerates sector’s loss of 3.17% and falling behind the S&P 500’s gain of 4.43%.
Analysts and investors alike will be keeping a close eye on the performance of Honeywell International Inc. in its upcoming earnings disclosure. The company’s earnings report is set to go public on July 25, 2024. The company is predicted to post an EPS of $2.40, indicating a 7.62% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $9.4 billion, up 2.8% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $10.16 per share and a revenue of $38.66 billion, signifying shifts of +10.92% and +5.45%, respectively, from the last year.
It’s also important for investors to be aware of any recent modifications to analyst estimates for Honeywell International Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
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 past month, there’s been a 0.06% rise in the Zacks Consensus EPS estimate. Honeywell International Inc. presently features a Zacks Rank of #2 (Buy).
Digging into valuation, Honeywell International Inc. currently has a Forward P/E ratio of 21.49. This indicates a premium in contrast to its industry’s Forward P/E of 18.76.
It is also worth noting that HON currently has a PEG ratio of 2.28. 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. As of the close of trade yesterday, the Diversified Operations industry held an average PEG ratio of 1.85.
The Diversified Operations industry is part of the Conglomerates sector. With its current Zacks Industry Rank of 31, this industry ranks in the top 13% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
To follow HON in the coming trading sessions, be sure to utilize Zacks.com.
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