Howmet Aerospace (NYSE:HWM) Updates FY24 Earnings Guidance

Howmet Aerospace (NYSE:HWM) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $2.53-2.57 for the period, compared to the consensus earnings per share estimate of $2.39. The company issued revenue guidance of $7.40-7.48 billion, compared to the consensus revenue estimate of $7.32 billion. Howmet Aerospace also updated its FY 2024 guidance to 2.530-2.570 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HWM. BTIG Research assumed coverage on Howmet Aerospace in a research report on Wednesday, June 26th. They set a buy rating and a $95.00 price target on the stock. Robert W. Baird raised their target price on Howmet Aerospace from $74.00 to $84.00 and gave the company an outperform rating in a research report on Friday, May 3rd. Benchmark increased their price target on Howmet Aerospace from $53.00 to $85.00 and gave the company a buy rating in a report on Friday, July 12th. The Goldman Sachs Group increased their price target on Howmet Aerospace from $77.00 to $87.00 and gave the company a buy rating in a report on Friday, May 3rd. Finally, Northcoast Research reaffirmed a sell rating and issued a $70.00 price target on shares of Howmet Aerospace in a report on Friday, June 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Howmet Aerospace has a consensus rating of Moderate Buy and an average price target of $77.76.

Howmet Aerospace Stock Up 12.3 %

Shares of NYSE HWM opened at $93.00 on Tuesday. The company has a market capitalization of $37.96 billion, a price-to-earnings ratio of 40.02, a price-to-earnings-growth ratio of 1.50 and a beta of 1.46. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.97 and a quick ratio of 0.92. The business has a 50-day moving average of $81.20 and a two-hundred day moving average of $71.18. Howmet Aerospace has a 1 year low of $42.94 and a 1 year high of $93.00.

Howmet Aerospace (NYSE:HWM) last posted its earnings results on Tuesday, July 30th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. Howmet Aerospace had a return on equity of 21.33% and a net margin of 12.53%. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The business’s revenue was up 14.1% compared to the same quarter last year. On average, analysts forecast that Howmet Aerospace will post 2.39 earnings per share for the current fiscal year.

Howmet Aerospace Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Friday, August 9th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.34%. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.05. Howmet Aerospace’s payout ratio is 9.66%.

Insider Activity at Howmet Aerospace

In related news, EVP Neil Edward Marchuk sold 32,614 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $84.26, for a total value of $2,748,055.64. Following the transaction, the executive vice president now owns 217,687 shares in the company, valued at approximately $18,342,306.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.12% of the stock is currently owned by 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.