Honeywell’s Earnings Fall, but Beat View; Forecast Raised (HON)

By Staff,

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Diversified technology and manufacturing company Honeywell International Inc. ( HON ) said Friday that its first quarter profit fell almost 3% from last year, but results beat analyst expectations and the company boosted its full-year outlook.

The Morris Township, NJ-based company reported first quarter net income of $386 million, or 50 cents per share, compared with $397 million, or 54 cents per share, in the year-ago period. On average, Wall Street analysts had expected a smaller profit of 47 cents per sahre.

Revenue rose 2.7% from last year, to $7.78 billion.

Looking ahead, the company raised its full-year earnings guidance to a range of $2.30 to $2.45 per share, compared with a prior forecast of $2.20 to $2.40 per share for the year.

Honeywell shares were mostly flat in premarket trading Friday.

The Bottom Line
We have been recommending shares of HON since Mar.25, when the stock was trading at $44.48. The company has a 2.55% dividend yield, based on last night's closing stock price of $47.44.

Honeywell International Inc. ( HON ) is not recommended at this time, holding a DARS™ Rating of 3.5 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: HON

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