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Could Honeywell Impress Investors Again in 1Q18?

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Could Honeywell Impress Investors Again in 1Q18? PART 1 OF 6

Honeywell’s Stock Performance since Its 4Q17 Earnings Release

Honeywell to report 1Q18 earnings

Honeywell (HON) is set to announce its 1Q18 earnings on April 20, 2018, before the market opens. It plans to hold a conference call that day, at 7:30 AM EST (Eastern Standard Time). In this series, we’ll look at Honeywell’s stock performance since its 4Q17 earnings, and analysts’ revenue and EPS (earnings per share) estimates and recommendations. We’ll also compare HON’s latest valuation and short interest with peers’.

Honeywell&#8217;s Stock Performance since Its 4Q17 Earnings Release

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HON’s stock performance since 4Q17

HON announced its 4Q17 results on January 26, 2018. That day, the stock rose 1.9%, but it has since fallen 11.4%. The decline was primarily due to market volatility resulting from speculation that the Fed could raise interest rates more often than expected in fiscal 2018 and a possible US-China trade war.

However, if HON can deliver solid earnings results and positive business developments, specifically in its UOP (Universal Oil Products) and aerospace businesses, it could recover the lost ground. Peers General Electric (GE), United Technologies (UTX ), and Textron (TXT) have fallen 12.4%, 11.1%, and 3.8%, respectively, since 4Q17.

Moving averages and relative strength index

HON stock is now trading 4.0% below its 100-day moving average of $152.21. HON’s 14-day RSI (relative strength index) score of 48 indicates that it is neither overbought nor oversold. An RSI score below 30 indicates that a stock may be oversold, while an RSI score above 70 indicates that a stock may be overbought. Investors can indirectly hold HON through the Industrial Select Sector SPDR ETF (XLI), which had 4.9% of its portfolio invested in Honeywell as of April 13, 2018.

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