Honeywell Set to Reveal Q4 Earnings Amid Mixed Market Sentiment
Honeywell International Inc. (HON), boasting a market cap of $142.5 billion, stands as a leader in technology and manufacturing across sectors like aerospace, building technologies, performance materials, and safety solutions. Headquartered in Charlotte, North Carolina, the company offers a wide array of advanced products and services, ranging from aerospace systems to energy management solutions. Investors are keenly awaiting the company’s fiscal Q4 earnings results, which are scheduled to be announced before market opening on Thursday, Feb. 6.
Projected Earnings Reflect Cautious Outlook
As the announcement approaches, analysts predict that HON will report a profit of $2.31 per share, representing a drop of 11.2% compared to $2.60 per share in the same quarter last year. Despite this decline, Honeywell has consistently met or exceeded Wall Street’s profit expectations over the past four quarters, including a notable 3.2% margin above consensus estimates in the last reported quarter.
Future Projections Show Modest Growth
For fiscal 2024, analysts anticipate an earnings per share (EPS) of $9.73, marking a 6.2% growth from $9.16 in fiscal 2023. Looking further ahead, EPS is projected to increase by 12.6% to $10.96 in fiscal 2025.
Stock Performance Trails Market Indices
Over the past 52 weeks, HON stock has increased by 8.7%. However, this growth lags behind the S&P 500 Index’s rise of 22.1% and the Industrial Select Sector SPDR Fund’s (XLI) 19.9% returns during the same timeframe.
Mixed Signals from Recent Earnings Report
The company experienced a more than 5% decline in stock price following its mixed Q3 earnings report released on Oct. 24. Although adjusted EPS rose by 8% year-over-year to $2.58, exceeding expectations, revenue growth of 5.6% to $9.7 billion fell short of analyst predictions.
Analysts Maintain a Moderately Positive Outlook
Current consensus among analysts regarding Honeywell’s stock leans toward a “Moderate Buy.” Out of 22 analysts monitoring the stock, 10 rate it as “Strong Buy” while 12 opt for “Hold.” The average price target for HON is set at $247.35, indicating a potential upside of 13.2% from its current trading level.
On the date of publication, Kritika Sarmah did not hold (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are solely for informational purposes. For further details, please consult the Barchart Disclosure Policy here.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
