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Honeywell Shares Fall As Outlook Could Miss Estimates
From StockNews.com: Industrial giant Honeywell International Inc. (NYSE:HON) early Friday offered a weaker-than-expected 2017 outlook, sending its shares lower in morning trading.
The Morris Plains, NJ-based company Honeywell stood by its previously announced Q4 EPS guidance for $1.74, which is slightly below Wall Street’s $1.75 view. For the full year 2017, HON forecast EPS ranging from $6.85 to $7.10, which could fall well short of the consensus analyst for $7.09.
The company commented via press release:
“We anticipate organic sales growth of 1%-3%, segment margin expansion of 70-110 basis points, and EPS growth of 6%-10% (excluding pension MTM, debt refinancing charges, and 2016 divestitures), driven by the impact from high-return capacity expansions, continued seed planting in new product introductions, software and connected enterprises, and earnings from prior M&A. Our focus on HOS Gold, coupled with world-class processes and talent to drive Commercial Excellence, should continue to generate returns. We are building upon the strong foundation we have established over the last 15 years.”
Honeywell shares fell $2.65 (-2.28%) to $113.69 in premarket trading Friday. Year-to-date, HON has gained 12.23%, which is roughly in line with the performance of the benchmark S&P 500 index during the same period.
HON currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #2 of 19 stocks in the Industrial – Manufacturing category.
This article is brought to you courtesy of StockNews.com.
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