Following the Coronavirus Sell-Off: Is Honeywell Stock a Buy?
It was all so different a month ago. Honeywell International (NYSE: HON) reported a good set of fourth-quarter 2019 earnings on the last day of January, and its full-year 2020 guidance for 0%-3% organic revenue growth and 5%-10% EPS growth implied the company's growth rate would pick up though the year. Fast forward to the end of March and, at the time of writing, the stock is down 36% on a year-to-date basis upon fears that the COVID-19 pandemic will severely affect its earnings. What's going on, and is it time to bail out or buy the stock?
Aerospace suppliers need passenger traffic to come back after the coronavirus is contained. Image source: Getty Images.
The remarkable thing about Honeywell's change in fortune comes from how quickly it's all happened. Let's focus on aerospace for the moment, as it's Honeywell's biggest earnings generator.
Source Fool.com
