Wall Street analysts forecast that Honeywell International Inc. (HON) will report quarterly earnings of $1.80 per share in its upcoming release, pointing to a year-over-year decline of 67.3%. It is anticipated that revenues will amount to $4.98 billion, exhibiting a decrease of 51.9% compared to the year-ago quarter.
The current level reflects a downward revision of 58.8% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Bearing this in mind, let's now explore the average estimates of specific Honeywell International metrics that are commonly monitored and projected by Wall Street analysts.
The combined assessment of analysts suggests that 'Net Sales- Industrial Automation' will likely reach $1.45 billion. The estimate points to a change of -39% from the year-ago quarter.
Analysts expect 'Segment Profit- Industrial Automation' to come in at $249.84 million. The estimate is in contrast to the year-ago figure of $456.00 million.
The consensus estimate for 'Segment Profit- Building Automation' stands at $526.58 million. Compared to the current estimate, the company reported $479.00 million in the same quarter of the previous year.
The average prediction of analysts places 'Segment Profit- Aerospace Technologies' at $1.17 billion. Compared to the current estimate, the company reported $1.10 billion in the same quarter of the previous year.
View all Key Company Metrics for Honeywell International here>>>Shares of Honeywell International have experienced a change of -50.9% in the past month compared to the +0.6% move of the Zacks S&P 500 composite. With a Zacks Rank #5 (Strong Sell), HON is expected to underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Radical New Technology Could Hand Investors Huge Gains
Quantum Computing is the next technological revolution, and it could be even more advanced than AI.
While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.
Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power .
Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.
See Top Quantum Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Honeywell International Inc. (HON): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).