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Honeywell International Inc. (HON) Dips More Than Broader Markets: What You Should Know

Honeywell International Inc. (HON) closed at $166.97 in the latest trading session, marking a -1.82% move from the prior day. This change lagged the S&P 500's daily loss of 1.51%. At the same time, the Dow lost 1.71%, and the tech-heavy Nasdaq lost 0.02%.

Coming into today, shares of the company had lost 10.83% in the past month. In that same time, the Conglomerates sector lost 10.2%, while the S&P 500 lost 9.52%.

Honeywell International Inc. will be looking to display strength as it nears its next earnings release, which is expected to be October 27, 2022. In that report, analysts expect Honeywell International Inc. to post earnings of $2.16 per share. This would mark year-over-year growth of 6.93%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.06 billion, up 6.92% from the year-ago period.

HON's full-year Zacks Consensus Estimates are calling for earnings of $8.68 per share and revenue of $35.77 billion. These results would represent year-over-year changes of +7.69% and +4.02%, respectively.

Any recent changes to analyst estimates for Honeywell International Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business 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 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Honeywell International Inc. currently has a Zacks Rank of #3 (Hold).

In terms of valuation, Honeywell International Inc. is currently trading at a Forward P/E ratio of 19.6. This valuation marks a premium compared to its industry's average Forward P/E of 14.84.

Also, we should mention that HON has a PEG ratio of 2.05. 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 1.53 as of yesterday's close.

The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 91, putting it in the top 37% 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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