Honeywell International Inc. (HON) Rises As Market Takes a Dip: Key Facts

In the latest market close, Honeywell International Inc. (HON) reached $191.08, with a +0.38% movement compared to the previous day. The stock outpaced the S&P 500's daily loss of 0.22%. Elsewhere, the Dow gained 0.06%, while the tech-heavy Nasdaq lost 0.52%.

Prior to today's trading, shares of the company had lost 5.38% over the past month. This has was narrower than the Conglomerates sector's loss of 8.6% and lagged the S&P 500's loss of 1.66% 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 April 25, 2024. The company's earnings per share (EPS) are projected to be $2.18, reflecting a 5.31% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $9 billion, reflecting a 1.56% rise from the equivalent quarter last year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $9.94 per share and a revenue of $38.34 billion, signifying shifts of +8.52% and +4.57%, respectively, from the last year.

Investors should also note any recent changes to analyst estimates for Honeywell International Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.17% lower. Honeywell International Inc. is currently sporting a Zacks Rank of #3 (Hold).

From a valuation perspective, Honeywell International Inc. is currently exchanging hands at a Forward P/E ratio of 19.14. This indicates a premium in contrast to its industry's Forward P/E of 17.14.

Meanwhile, HON's PEG ratio is currently 2.18. 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. HON's industry had an average PEG ratio of 1.95 as of yesterday's close.

The Diversified Operations industry is part of the Conglomerates sector. Currently, this industry holds a Zacks Industry Rank of 153, positioning it in the bottom 40% of all 250+ industries.

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.

You can find more information on all of these metrics, and much more, on Zacks.com.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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