Mainstreet is catching up to Wallstreet.
Review latest news. Wonder why all-hands are useless? VP says “I want to encourage communication now more than ever”, or so It has been said.
4 replies (most recent on top)
Many Honeywell sites are exempt from all OSHA inspection, other than a scheduled & coordinated inspection occurring every 5 years to re-certify.
https://www.osha.gov/vpp
FYI,
Here is the Barron Article in case you can't access the link...................................
Sean Gallup/Getty Images
Honeywell reported solid earnings Friday, but the stock fell because things aren’t that great in its core energy, aerospace, and commercial building businesses right now. Wall Street analysts, however, feel pretty good about the results.
That is positive for other industrial companies about to report numbers—so long as they aren’t aerospace suppliers. The company earned $1.26 a share, a little better than Wall Street expected.
“The Honeywell quarter was better than the worst case most had envisioned three months ago and we are raising estimates,” wrote J.P. Morgan analyst Stephen Tusa in a Monday research report. Tusa raised his forecast for 2020 earnings from $6.60 a share to $6.95. He now predicts $7.75 in per-share earnings for 2021, up from $7.45.
Honeywell earned $8.16 a share in 2019. The pandemic is having a long-term impact on most industrial companies’ earnings.
Tusa rates shares the equivalent of Buy. His price target is $185 a share, while the stock was steady at $149.42 on Monday morning.
RBC analyst Deane Dray also rates shares at Buy. His price target, however, is a little lower, at $166 a share.
Dray says Honeywell is grinding it out, focusing on costs while its core end markets remain depressed. His biggest surprise was Honeywell’s disclosure that third-quarter sales, like the second-quarter number, would fall more than 15%. Aerospace is the reason: Covid-19 has decimated demand for commercial air travel.
“Given commercial Aerospace markets, the company executed and delivered decremental margin of 39% in Aerospace,” wrote Credit Suisse analyst John Walsh in a Monday research report. That means, essentially, that for every dollar of sales decline in aerospace, Honeywell lost 39 cents in operating profit
https://finance.yahoo.com/m/88cc7c2e-9f4c-3bcf-8ca4-5ac72e104262/honeywell-reported-strong.html
Here's a July 27 article from Barrons. While the short term outlook is not good, some of it is upbeat for the future.
Seeking alpha putting a value buy point of $120 on honeywell. Going to be tough to maintain current stock price with that kind of analysis out there. Look for erosion over next few months.