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Stock Update (NYSE:HON): Honeywell Forecasts 4,300 To 4,800 Global Helicopter Deliveries Over Next Five Years

[PR Newswire] – LOUISVILLE, Ky., Feb. 29, 2016 /PRNewswire/ — In the face of a slower global economic growth environment and increased volatility in oil and gas-related markets, the helicopter industry is reacting with a cautious outlook for near-term new purchases. In its 18th annual Turbine-Powered Civil Helicopter Purchase Outlook, Honeywell (HON) forecasts 4,300 to 4,800 civilian-use helicopters will be delivered from 2016 to 2020, roughly 400 helicopters lower than the 2015 five-year forecast. “The current global economic situation is causing fleet managers to evaluate new helicopter purchases closely, and that’s why we’re seeing a more cautious five-year demand projection compared with previous years,” said Carey Smith, president, Defense and Space at Honeywell Aerospace. Read more on this. Honeywell International Inc. (HON) , currently valued at $79.40B, opened this morning at $102.59. Today’s price range has been between $102.56 and $103.48 per share with the price of the stock fluctuating between $87.00 to $111.86 over the last 52 weeks. HON shares are currently priced at 15.63x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 14.02x forward p/e ratio. And for passive income investors, the company pays shareholders $2.38 per share annually in dividends, yielding 2.28%. In a review of the consensus earnings estimate this quarter, 19 sell-side analysts are looking at $1.50 per share, which would be $0.09 better than the year-ago quarter and a $0.02 sequential decrease. The full-year EPS estimate is $6.59, which would be a $0.49 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $9.36 Billion. If realized, that would be a 1.63% increase over the year-ago quarter. Recently, UBS Initiated HON at Neutral (Jan 22, 2015). Previously, Stifel Nicolaus Initiated HON at to Buy. Investors should keep in mind is that the average price target is $115.29, which is 12.38% above where the stock opened this morning. See more in (NYSE:HON) Similar Articles: Stock Update: Honeywell International Inc (NYSE:HON) – Honeywell Provides Clearer Picture For Helicopter Pilots In Low-Visibility And Inclement Environments Stock Update: Honeywell International Inc (NYSE:HON) – Federal Aviation Administration Approves Honeywell’s Hardware For Inmarsat Global Xpress In-Flight Wireless Network Stock Update: Honeywell International Inc (NYSE:HON) – Honeywell To Present At Deutsche Bank Global Auto Industry Conference
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