Howmet Aerospace (NYSE:HWM) Updates FY 2024 Earnings Guidance

Howmet Aerospace (NYSE:HWM) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 2.530-2.570 for the period, compared to the consensus earnings per share estimate of 2.390. The company issued revenue guidance of $7.4 billion-$7.5 billion, compared to the consensus revenue estimate of $7.3 billion. Howmet Aerospace also updated its FY24 guidance to $2.53-2.57 EPS.

Analyst Ratings Changes

A number of research firms recently issued reports on HWM. Robert W. Baird lifted their price objective on Howmet Aerospace from $84.00 to $113.00 and gave the company an outperform rating in a research report on Wednesday. Wells Fargo & Company raised their target price on Howmet Aerospace from $72.00 to $88.00 and gave the company an overweight rating in a report on Monday, May 6th. Benchmark raised their target price on Howmet Aerospace from $53.00 to $85.00 and gave the company a buy rating in a report on Friday, July 12th. Barclays raised their target price on Howmet Aerospace from $65.00 to $85.00 and gave the company an overweight rating in a report on Monday, May 6th. Finally, The Goldman Sachs Group raised their target price on Howmet Aerospace from $77.00 to $87.00 and gave the company a buy rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $84.88.

Howmet Aerospace Stock Down 0.9 %

Howmet Aerospace stock opened at $94.87 on Friday. Howmet Aerospace has a twelve month low of $42.94 and a twelve month high of $97.29. The company’s 50-day moving average price is $81.87 and its two-hundred day moving average price is $71.78. The stock has a market cap of $38.72 billion, a P/E ratio of 45.83, a P/E/G ratio of 1.60 and a beta of 1.45. The company has a quick ratio of 0.92, a current ratio of 1.53 and a debt-to-equity ratio of 0.68.

Howmet Aerospace (NYSE:HWM) last announced its earnings results on Tuesday, July 30th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.60 by $0.07. Howmet Aerospace had a net margin of 13.15% and a return on equity of 23.02%. The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same period last year, the firm earned $0.44 earnings per share. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, analysts expect that Howmet Aerospace will post 2.55 EPS for the current year.

Howmet Aerospace Increases Dividend

The company 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 dividend of $0.08 per share. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.05. The ex-dividend date is Friday, August 9th. This represents a $0.32 annualized dividend and a dividend yield of 0.34%. Howmet Aerospace’s dividend payout ratio (DPR) is currently 9.66%.

Insider Buying and Selling

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 32,614 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $84.26, for a total value of $2,748,055.64. Following the sale, the executive vice president now owns 217,687 shares in the company, valued at $18,342,306.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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.