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The most recent trading session ended with Honeywell International Inc. (HON) standing at $220.17, reflecting a -0.21% shift from the previouse trading day's closing. The stock fell short of the S&P 500, which registered a gain of 0.16% for the day. Elsewhere, the Dow gained 0.25%, while the tech-heavy Nasdaq lost 0.06%.
Shares of the company witnessed a loss of 3.88% over the previous month, trailing the performance of the Conglomerates sector with its loss of 2.27% and the S&P 500's loss of 2.7%.
The investment community will be paying close attention to the earnings performance of Honeywell International Inc. in its upcoming release. The company is predicted to post an EPS of $2.31, indicating a 11.15% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.97 billion, up 5.56% from the year-ago period.
Investors should also take note of any recent adjustments 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Within the past 30 days, our consensus EPS projection has moved 0.67% higher. Right now, Honeywell International Inc. possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Honeywell International Inc. is at present trading with a Forward P/E ratio of 20. This signifies a premium in comparison to the average Forward P/E of 13.99 for its industry.
It's also important to note that HON currently trades at a PEG ratio of 2.42. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Diversified Operations industry stood at 1.68 at the close of the market yesterday.
The Diversified Operations industry is part of the Conglomerates sector. At present, this industry carries a Zacks Industry Rank of 191, placing it within the bottom 24% of over 250 industries.