Howmet Aerospace (NYSE:HWM) Releases FY24 Earnings Guidance

Howmet Aerospace (NYSE:HWM) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $2.31-2.39 for the period, compared to the consensus EPS estimate of $2.21. The company issued revenue guidance of $7.225-7.375 billion, compared to the consensus revenue estimate of $7.14 billion. Howmet Aerospace also updated its Q2 guidance to $0.57-0.59 EPS.

Howmet Aerospace Stock Up 2.3 %

Shares of NYSE HWM traded up $1.79 during mid-day trading on Friday, reaching $78.89. 6,147,936 shares of the company’s stock were exchanged, compared to its average volume of 3,546,927. Howmet Aerospace has a twelve month low of $42.17 and a twelve month high of $79.47. The company has a current ratio of 1.97, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $32.22 billion, a price-to-earnings ratio of 38.11, a PEG ratio of 1.91 and a beta of 1.41. The business has a fifty day simple moving average of $66.70 and a 200 day simple moving average of $57.97.

Howmet Aerospace (NYSE:HWM) last announced its earnings results on Thursday, May 2nd. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.52 by $0.05. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.74 billion. Howmet Aerospace had a net margin of 12.53% and a return on equity of 21.33%. The business’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the company posted $0.42 EPS. As a group, equities analysts expect that Howmet Aerospace will post 2.37 EPS for the current fiscal year.

Howmet Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Friday, May 10th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.25%. Howmet Aerospace’s dividend payout ratio (DPR) is 9.66%.

Analyst Ratings Changes

A number of brokerages recently issued reports on HWM. JPMorgan Chase & Co. lifted their target price on Howmet Aerospace from $55.00 to $60.00 and gave the company an overweight rating in a research report on Wednesday, February 14th. Royal Bank of Canada boosted their price objective on shares of Howmet Aerospace from $75.00 to $90.00 and gave the stock an outperform rating in a research report on Friday. Robert W. Baird raised their target price on shares of Howmet Aerospace from $74.00 to $84.00 and gave the company an outperform rating in a research report on Friday. UBS Group boosted their price target on shares of Howmet Aerospace from $57.00 to $66.00 and gave the stock a neutral rating in a research report on Thursday, February 15th. Finally, Benchmark reaffirmed a buy rating and issued a $53.00 target price on shares of Howmet Aerospace in a research report on Friday, April 19th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $69.77.

Insider Buying and Selling at Howmet Aerospace

In related news, EVP Neil Edward Marchuk sold 45,000 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $67.44, for a total value of $3,034,800.00. Following the transaction, the executive vice president now owns 229,568 shares in the company, valued at approximately $15,482,065.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.12% of the company’s stock.

Howmet Aerospace Company Profile

Howmet Aerospace Inc provides advanced engineered solutions for the aerospace and transportation industries in the United States, Japan, France, Germany, the United Kingdom, Mexico, Italy, Canada, Poland, China, and internationally. It operates through four segments: Engine Products, Fastening Systems, Engineered Structures, and Forged Wheels.