Howmet Aerospace (NYSE:HWM) Releases FY24 Earnings Guidance

Howmet Aerospace (NYSE:HWM) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.31-2.39 for the period, compared to the consensus 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 Price Performance

Shares of NYSE HWM traded up $1.79 during trading hours on Friday, reaching $78.89. 6,147,936 shares of the stock traded hands, compared to its average volume of 3,546,927. The company has a market capitalization of $32.22 billion, a P/E ratio of 38.11, a price-to-earnings-growth ratio of 1.91 and a beta of 1.41. 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 52-week low of $42.17 and a 52-week high of $79.47. The company’s 50-day simple moving average is $66.70 and its two-hundred day simple moving average is $57.97.

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

Howmet Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Friday, May 10th will be paid 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 yield of 0.25%. Howmet Aerospace’s dividend payout ratio (DPR) is currently 9.66%.

Wall Street Analyst Weigh In

HWM has been the subject of a number of recent research reports. The Goldman Sachs Group lifted their price objective on Howmet Aerospace from $77.00 to $87.00 and gave the company a buy rating in a research note on Friday. KeyCorp boosted their price target on Howmet Aerospace from $60.00 to $70.00 and gave the stock an overweight rating in a research note on Wednesday, February 21st. Robert W. Baird upped their price objective on Howmet Aerospace from $74.00 to $84.00 and gave the company an outperform rating in a research report on Friday. JPMorgan Chase & Co. upped their price objective on Howmet Aerospace from $55.00 to $60.00 and gave the company an overweight rating in a research report on Wednesday, February 14th. Finally, Barclays upped their price objective on Howmet Aerospace from $60.00 to $65.00 and gave the company an overweight rating in a research report on Tuesday, February 20th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently 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 stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $67.44, for a total transaction of $3,034,800.00. Following the completion of the transaction, the executive vice president now directly owns 229,568 shares of the company’s stock, valued at $15,482,065.92. The sale was disclosed in a filing with the SEC, which is available through this link. 1.12% of the stock is owned by corporate insiders.

About Howmet Aerospace

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.