Industrial operation Honeywell (NASDAQ:HON) delivered a lackluster earnings report, but as far as investors were concerned, it didn’t matter much anyway. The mixed bag Honeywell brought forth brought little more than a yawn from investors, who sent shares down fractionally in Thursday afternoon’s trading.
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The picture was indeed quite mixed for Honeywell. While its Aerospace business did quite well, its Safety and Productivity arm turned in a much softer quarter. Honeywell did manage to turn in a beat on earnings if only a scant one; Honeywell brought in $2.27 per share, which managed to beat consensus forecasts of $2.24.
Revenue, however, proved a sticking point; Honeywell brought in $9.2 billion, a 3% rise over the same time last year. However, analysts were looking for a slightly higher bump at $9.31 billion, which was enough for a near-miss on Honeywell’s part.
But Honeywell is already setting up the next quarter to start off with a bang. It’s stepping up the availability of several key technologies in the Asia-Pacific market, specifically those that offer help producing fuels.
Honeywell noted what it considered a “vital need” for low-carbon fuels in the region and is working on several fronts to help those get produced. Triglyceride feedstocks for biodiesel were one field, but Honeywell quickly expanded into green hydrogen and “eMethanol,” which can go into a variety of different fuel options.
Is Honeywell a Buy, Sell, or Hold?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on HON stock based on eight Buys, three Holds, and one Sell assigned in the past three months, as indicated by the graphic below. Furthermore, the average HON price target of $226.91 per share implies 28.87% upside potential.
