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- 1 HON stock price analysis highlights increased bear activity.
- 2 HON stock dropped over 4% and 8% over the week and the month, respectively.
Honeywell International Inc., (NASDAQ: HON) last week, reported its Q2 2023 results, after which, HON stock price slid downward with the potential strength of active bears in the market. Bears’ dominance affected HON stock price that dropped 4.28% in its recent price analysis. Whereas, the RSI of the stock also showed a downside trend.
HON Stock Price Analysis
This weekend, on August 4, 2023, Friday, HON stock price opened at $191.26, lost $1.30 and then slid 0.68% in the intraday trading session. The trading price range was in between $191.82 to $188.81, which clearly shows the negative trend of the stock. The year-to-date (YTD) price analysis shows over 12% price decline which shows just 1% price drop, as per the data sourced from TradingView, a web-based social network for traders.
As the above chart shows, the RSI of HON stock reached near the oversold zone whereas increased bearish activity took the price below to the 200-day moving average.
The one year price target of the stock set by analysts is at $220.45, up over 16% from the recent closing price of stock. The maximum price estimate set by analysts is $265.00 while minimum estimate is at $180.00. Moreover, in the past three months, analysts have given a “buy” rating to Honeywell International Inc.
Q2 2023 Report of Honeywell International
On July 27, 2023, Honeywell International Inc. released its Q2 2023 report. Per the report, the net income is $1.49 Billion. The market cap of the company is nearly $125.62 Billion. HON price-to-sales ratio is 3.53 while the company has an enterprise value to EBITDA ratio of 16.02.
HON dividends are paid quarterly whereas the next dividend per share is expected to be $1.03 and as of today, dividend yield (TTM)% is 2.14%. HON earnings per share (EPS) for the last quarter is $2.23, whereas the estimation was $2.21 which is a 1.11% surprise.
The revenue for the same period amounts to $9.15 Billion despite the estimated figure of $9.17 Billion. The estimated EPS for the next quarter is $2.24, and revenue is expected to reach $9.25 Billion. For 2022, the revenue of Honeywell International Inc. amounted to $35.47 Billion out of which, $11.83 Billion came from its highest performing source, Aerospace.
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