Howmet Aerospace (NYSE:HWM) Releases FY24 Earnings Guidance

Howmet Aerospace (NYSE:HWM) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.31-2.39 for the period, compared to the consensus earnings per share 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 Trading Up 2.3 %

Shares of NYSE HWM traded up $1.79 during mid-day trading on Friday, hitting $78.89. 6,147,936 shares of the company traded hands, compared to its average volume of 3,546,927. The business has a 50 day moving average of $66.70 and a two-hundred day moving average of $57.97. The company has a quick ratio of 0.87, a current ratio of 1.97 and a debt-to-equity ratio of 0.86. Howmet Aerospace has a 1 year low of $42.17 and a 1 year high of $79.47. The stock 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.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.57 earnings per share (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 return on equity of 21.33% and a net margin of 12.53%. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 EPS. On average, sell-side analysts anticipate that Howmet Aerospace will post 2.37 earnings per share for the current fiscal year.

Howmet Aerospace Announces Dividend

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 paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date is Thursday, May 9th. Howmet Aerospace’s payout ratio is 9.66%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. UBS Group increased their price target on shares of Howmet Aerospace from $57.00 to $66.00 and gave the company a neutral rating in a research report on Thursday, February 15th. Royal Bank of Canada raised their price objective on Howmet Aerospace from $75.00 to $90.00 and gave the company an outperform rating in a report on Friday. Truist Financial increased their price objective on Howmet Aerospace from $74.00 to $88.00 and gave the stock a buy rating in a report on Friday. Benchmark reiterated a buy rating and issued a $53.00 price objective on shares of Howmet Aerospace in a report on Friday, April 19th. Finally, JPMorgan Chase & Co. upped their price target on shares of Howmet Aerospace from $55.00 to $60.00 and gave the stock an overweight rating in a research note on Wednesday, February 14th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $69.77.

Insider Activity at Howmet Aerospace

In related news, EVP Neil Edward Marchuk sold 45,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 229,568 shares of the company’s stock, valued at $15,482,065.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate 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.