Market Update: Honeywell International Inc (NYSE:HON) – New Honeywell Production Capacity In China To Support Breakthrough Coal-To-Plastics Technology

[PR Newswire] – SHANGHAI, May 23, 2016 /PRNewswire/ — Honeywell (HON) announced today that its Honeywell UOP business broke ground on a new manufacturing capacity outside Shanghai to produce materials used to convert methanol from coal into feedstocks for making plastics, a significant milestone to enable China to meet the growing demand for plastics. When it enters production in 2017, the catalyst production line in Zhangjiagang City in Jiangsu Province will produce state-of-the-art catalysts used in Honeywell UOP’s Advanced Methanol-to-Olefins (MTO) process technology. Honeywell UOP developed the MTO process to convert methanol, which can readily be produced from coal or natural gas, into the olefins ethylene and propylene that are the primary chemicals used to manufacture plastics. Read more on this. Honeywell International Inc. (HON) , with a current value of $86.16B, started the session at $113.09. Shares have traded today between $112.59 and $113.27 per share with its 52-week range being $87.00 to $116.56. Honeywell (HON) shares are currently priced at 16.86x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 13.45x earnings multiple for the same period. And for income investors, the company pays shareholders $2.38 per share annually in dividends, yielding 2.10%. According to a consensus of 19 analysts, the earnings estimate of $1.64 per share would be $0.13 better than the year-ago quarter and a $0.00 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $6.66 would be a $0.56 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $10.13 Billion. If reported, that would be a 3.58% increase over the year-ago quarter. In terms of ratings, UBS Initiated HON at Neutral (Jan 22, 2015). Previously, Stifel Nicolaus Initiated HON at to Buy. When considering if the stock is under or overvalued, the average price target is $124.84, which is 10.39% above where the stock opened this morning. See more in (NYSE:HON) Similar Articles: Company Update: Honeywell International Inc (NYSE:HON) – Sinopec Pioneers New Technology From Honeywell UOP To Raise Yields Of Petrochemicals In China Market Update: Honeywell International Inc (NYSE:HON) – United Airlines Begins Regular Commercial Flights Using Renewable Jet Fuel Made From Honeywell UOP Technology Market Update: Honeywell International Inc (NYSE:HON) – Honeywell UOP XCeed™ Technology To Help HollyFrontier Meet Stricter Wastewater Regulations
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