In the latest trading session, Honeywell (HON) closed at $146.06, marking a -0.96% move from the previous day. This change was narrower than the S&P 500's 1.73% loss on the day. Elsewhere, the Dow lost 1.19%, while the tech-heavy Nasdaq lost 2.07%.
Coming into today, shares of the industrial conglomerate had lost 10.81% in the past month. In that same time, the Conglomerates sector lost 8.12%, while the S&P 500 lost 7.09%.
Wall Street will be looking for positivity from HON as it approaches its next earnings report date. This is expected to be January 25, 2019. On that day, HON is projected to report earnings of $1.88 per share, which would represent year-over-year growth of 1.62%. Meanwhile, our latest consensus estimate is calling for revenue of $9.69 billion, down 10.61% from the prior-year quarter.
HON's full-year Zacks Consensus Estimates are calling for earnings of $7.98 per share and revenue of $41.77 billion. These results would represent year-over-year changes of +12.24% and +3.05%, respectively.
Any recent changes to analyst estimates for HON should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 2.03% lower within the past month. HON is holding a Zacks Rank of #5 (Strong Sell) right now.
Investors should also note HON's current valuation metrics, including its Forward P/E ratio of 18.48. This valuation marks a premium compared to its industry's average Forward P/E of 16.49.
Investors should also note that HON has a PEG ratio of 1.88 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. HON's industry had an average PEG ratio of 1.81 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 195, which puts it in the bottom 24% 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.