Honeywell International Inc. (HON) closed the last trading day at $192.01, which is -1.29% from the previous trading session. This change was narrower than the S&P 500’s 2.38% loss on the day. Meanwhile, the Dow lost 1.94% and the Nasdaq, a technology-heavy index, lost 0.6%.

As of today, the company’s shares have gained 1.3% over the past month. At the same time, the conglomerate sector gained 1.9%, while the S&P 500 lost 0.07%.

Wall Street will be looking for positivity from Honeywell International Inc. as its next earnings release date approaches. On that day, Honeywell International Inc. is expected to report earnings of $2.03 per share, which would represent 0.5% year-over-year growth. Our most recent consensus estimate calls for quarterly revenue of $8.72 billion, down 0.96% from the prior year period.

Zacks consensus estimates for the full year from HON call for earnings of $8.68 per share and revenue of $35.95 billion. These results would represent year-over-year variations of +7.69% and +4.54%, respectively.

Investors should also note any recent changes to analyst estimates for Honeywell International Inc. Recent revisions tend to reflect the latest near-term business trends. Therefore, we can interpret positive estimate revisions as a good sign for the company’s business outlook.

Our research shows that these estimate changes are directly correlated to short-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes into account these estimation changes and provides a clear and actionable scoring model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive track record of outperformance verified by external audits, with #1 stocks generating an average annual return of +25% since 1988 Over the past month, the Zacks Consensus EPS estimate fell 0.17%. Honeywell International Inc. currently has a Zacks rank of #3 (Hold).

Investors should also note Honeywell International Inc.’s current valuation metrics, including its Forward P/E ratio of 22.42. Its industry sports an average Forward P/E of 15.71, so we could conclude that Honeywell International Inc. is trading at a premium comparatively.

We can also see that HON currently has a PEG ratio of 2.32. This popular measure is similar to the widely known P/E ratio, except that the PEG ratio also takes into account the company’s expected earnings growth rate. Stocks in Diversified Operations hold an average PEG ratio of 1.41 based on yesterday’s closing prices.

The diversified trading industry is part of the conglomerate sector. This industry currently has a Zacks Industry Ranking of 69, which places it in the top 28% of over 250 industries.

The Zacks Industry Rankings are ranked from best to worst in terms of the average Zacks Ranking of individual companies in each of these industries. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.

Be sure to track all of these stock movement metrics, and more, at Zacks.com.

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