Time Plus News

Breaking News, Latest News, World News, Headlines and Videos

Honeywell International Inc. (HON) Gains As Market Dips: What You Should Know

This story originally appeared on Zacks

Honeywell International Inc. (HON) closed the most recent trading day at $189.84, moving +0.68% from the previous trading session. This move outpaced the S&P 500’s daily loss of 0.24%. Elsewhere, the Dow lost 0.49%, while the tech-heavy Nasdaq lost 0.04%.

– Zacks

Coming into today, shares of the company had lost 6.65% in the past month. In that same time, the Conglomerates sector lost 1.44%, while the S&P 500 gained 0.73%.

Wall Street will be looking for positivity from Honeywell International Inc. as it approaches its next earnings report date. In that report, analysts expect Honeywell International Inc. to post earnings of $1.87 per share. This would mark a year-over-year decline of 2.6%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.41 billion, down 0.48% from the year-ago period.

HON’s full-year Zacks Consensus Estimates are calling for earnings of $8.64 per share and revenue of $36.17 billion. These results would represent year-over-year changes of +7.2% and +5.17%, respectively.

It is also important to note the recent changes to analyst estimates for Honeywell International Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 3.73% lower. Honeywell International Inc. is currently a Zacks Rank #4 (Sell).

Looking at its valuation, Honeywell International Inc. is holding a Forward P/E ratio of 21.82. This valuation marks a premium compared to its industry’s average Forward P/E of 17.44.

It is also worth noting that HON currently has a PEG ratio of 2.28. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company’s expected earnings growth rate into account. The Diversified Operations industry currently had an average PEG ratio of 1.48 as of yesterday’s close.

The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 105, putting it in the top 42% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within 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.

Just Released: Zacks Top 10 Stocks for 2022

In addition to the investment ideas discussed above, would you like to know about our 10 top buy-and-hold tickers for the entirety of 2022?

Last year’s 2021 Zacks Top 10 Stocks portfolio returned gains as high as +147.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys

Access Zacks Top 10 Stocks for 2022 today >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Honeywell International Inc. (HON): Free Stock Analysis Report
To read this article on Zacks.com click here.

Source link