Within the newest market shut, Honeywell Worldwide Inc. (HON) reached $222.02, with a +1.13% motion in comparison with the day past. The inventory outpaced the S&P 500’s every day achieve of 0.4%. On the identical time, the Dow added 0.09%, and the tech-heavy Nasdaq gained 0.63%.
Previous to immediately’s buying and selling, shares of the corporate had gained 7.78% over the previous month. This has outpaced the Conglomerates sector’s achieve of 4.73% and the S&P 500’s achieve of three.76% in that point.
Market members will likely be carefully following the monetary outcomes of Honeywell Worldwide Inc. in its upcoming launch. The corporate plans to announce its earnings on October 24, 2024. The corporate’s earnings per share (EPS) are projected to be $2.51, reflecting a ten.57% improve from the identical quarter final 12 months. Our most up-to-date consensus estimate is looking for quarterly income of $9.9 billion, up 7.43% from the year-ago interval.
For the annual interval, the Zacks Consensus Estimates anticipate earnings of $10.10 per share and a income of $38.98 billion, signifying shifts of +10.26% and +6.33%, respectively, from the final 12 months.
Buyers must also observe any current modifications to analyst estimates for Honeywell Worldwide Inc. These revisions usually mirror the most recent short-term enterprise traits, which might change regularly. Because of this, we are able to interpret optimistic estimate revisions as a great signal for the corporate’s enterprise outlook.
Empirical analysis signifies that these revisions in estimates have a direct correlation with impending inventory worth efficiency. To make the most of this, we’ve created the Zacks Rank, a proprietary mannequin that integrates these estimate modifications and supplies a useful score system.
The Zacks Rank system, which varies between #1 (Robust Purchase) and #5 (Robust Promote), carries a powerful observe report of exceeding expectations, confirmed by exterior audits, with shares at #1 delivering a mean annual return of +25% since 1988. Over the previous month, the Zacks Consensus EPS estimate has moved 0.12% decrease. Honeywell Worldwide Inc. presently encompasses a Zacks Rank of #4 (Promote).
its valuation, Honeywell Worldwide Inc. is holding a Ahead P/E ratio of 21.75. Its trade sports activities a mean Ahead P/E of 18.16, so one would possibly conclude that Honeywell Worldwide Inc. is buying and selling at a premium comparatively.
In the meantime, HON’s PEG ratio is at present 2.52. The PEG ratio bears resemblance to the regularly used P/E ratio, however this parameter additionally consists of the corporate’s anticipated earnings development trajectory. As of the shut of commerce yesterday, the Diversified Operations trade held a mean PEG ratio of 1.91.
The Diversified Operations trade is a part of the Conglomerates sector. This trade at present has a Zacks Trade Rank of 94, which places it within the prime 38% of all 250+ industries.
The Zacks Trade Rank assesses the power of our separate trade teams by calculating the typical Zacks Rank of the person shares contained throughout the teams. Our analysis exhibits that the highest 50% rated industries outperform the underside half by an element of two to 1.
Bear in mind to depend on Zacks.com to look at all these stock-impacting metrics, and extra, within the succeeding buying and selling classes.
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Honeywell International Inc. (HON) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the writer and don’t essentially mirror these of Nasdaq, Inc.
