Howmet Aerospace (NYSE:HWM) Releases Q2 Earnings Guidance

Howmet Aerospace (NYSE:HWM) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of $0.57-0.59 for the period, compared to the consensus EPS estimate of $0.54. The company issued revenue guidance of $1.825-1.845 billion, compared to the consensus revenue estimate of $1.77 billion. Howmet Aerospace also updated its FY24 guidance to $2.31-2.39 EPS.

Wall Street Analyst Weigh In

HWM has been the subject of a number of recent analyst reports. Benchmark restated a buy rating and set a $53.00 price target on shares of Howmet Aerospace in a report on Friday, April 19th. The Goldman Sachs Group boosted their target price on Howmet Aerospace from $77.00 to $87.00 and gave the company a buy rating in a research report on Friday. Truist Financial raised their price objective on shares of Howmet Aerospace from $74.00 to $88.00 and gave the company a buy rating in a research note on Friday. JPMorgan Chase & Co. upped their price objective on Howmet Aerospace from $55.00 to $60.00 and gave the stock an overweight rating in a research report on Wednesday, February 14th. Finally, Barclays boosted their target price on Howmet Aerospace from $60.00 to $65.00 and gave the stock an overweight rating in a research note on Tuesday, February 20th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Howmet Aerospace currently has a consensus rating of Moderate Buy and an average target price of $69.77.

Howmet Aerospace Stock Up 2.3 %

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

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.05. Howmet Aerospace had a net margin of 12.53% and a return on equity of 21.33%. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter last year, the company earned $0.42 earnings per share. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. Research analysts predict that Howmet Aerospace will post 2.37 EPS for the current fiscal year.

Howmet Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Friday, May 10th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.25%. The ex-dividend date is Thursday, May 9th. Howmet Aerospace’s payout ratio is 9.66%.

Insider Transactions at Howmet Aerospace

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was 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 in the company, valued at $15,482,065.92. The sale was disclosed in a document filed with the SEC, which is available 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.