Howmet Aerospace (NYSE:HWM) Updates 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 Price Performance

Howmet Aerospace stock opened at $73.80 on Thursday. Howmet Aerospace has a 12 month low of $42.17 and a 12 month high of $73.80. The company has a current ratio of 1.86, a quick ratio of 0.87 and a debt-to-equity ratio of 0.88. The business’s 50 day simple moving average is $66.20 and its 200 day simple moving average is $57.60. The company has a market cap of $30.14 billion, a price-to-earnings ratio of 36.46, a PEG ratio of 1.74 and a beta of 1.41.

Howmet Aerospace (NYSE:HWM) last posted its earnings results on Tuesday, February 13th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.06. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.65 billion. Howmet Aerospace had a return on equity of 20.12% and a net margin of 11.52%. The business’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.38 earnings per share. Sell-side analysts forecast that Howmet Aerospace will post 2.18 EPS for the current year.

Howmet Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Friday, May 10th will be paid a $0.05 dividend. The ex-dividend date is Thursday, May 9th. This represents a $0.20 dividend on an annualized basis and a yield of 0.27%. Howmet Aerospace’s dividend payout ratio is presently 10.93%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on HWM. Benchmark reiterated a buy rating and set a $53.00 target price on shares of Howmet Aerospace in a report on Friday, April 19th. Truist Financial upgraded shares of Howmet Aerospace from a hold rating to a buy rating and raised their price objective for the stock from $47.00 to $74.00 in a report on Wednesday, January 10th. Sanford C. Bernstein initiated coverage on shares of Howmet Aerospace in a report on Friday, January 5th. They issued an outperform rating and a $67.00 price objective for the company. Robert W. Baird raised their price objective on shares of Howmet Aerospace from $65.00 to $74.00 and gave the stock an outperform rating in a report on Monday, April 8th. Finally, KeyCorp raised their price objective on shares of Howmet Aerospace from $60.00 to $70.00 and gave the stock an overweight rating in a report on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $66.00.

Insiders Place Their Bets

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 45,000 shares of the stock in a transaction 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 approximately $15,482,065.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.12% of the stock is currently owned by company insiders.

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.