Howmet Aerospace (NYSE:HWM) Issues FY24 Earnings Guidance

Howmet Aerospace (NYSE:HWM) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $2.31-2.39 for the period, compared to the consensus EPS 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Benchmark restated a buy rating and issued a $53.00 price objective on shares of Howmet Aerospace in a report on Friday, April 19th. Barclays lifted their price target on shares of Howmet Aerospace from $60.00 to $65.00 and gave the company an overweight rating in a research report on Tuesday, February 20th. Royal Bank of Canada increased their price objective on shares of Howmet Aerospace from $75.00 to $90.00 and gave the stock an outperform rating in a research report on Friday. The Goldman Sachs Group lifted their target price on shares of Howmet Aerospace from $77.00 to $87.00 and gave the company a buy rating in a report on Friday. Finally, JPMorgan Chase & Co. increased their price target on Howmet Aerospace from $55.00 to $60.00 and gave the company an overweight rating in a report on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $69.77.

Howmet Aerospace Stock Up 2.3 %

Shares of NYSE:HWM traded up $1.79 during trading on Friday, hitting $78.89. The company’s stock had a trading volume of 6,147,936 shares, compared to its average volume of 3,546,927. Howmet Aerospace has a fifty-two week low of $42.17 and a fifty-two week high of $79.47. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 1.97. The company has a market capitalization of $32.22 billion, a PE ratio of 38.11, a PEG ratio of 1.91 and a beta of 1.41. The stock’s 50-day moving average price is $66.70 and its two-hundred day moving average price is $57.97.

Howmet Aerospace (NYSE:HWM) last released its earnings results on Thursday, May 2nd. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.05. Howmet Aerospace had a return on equity of 21.33% and a net margin of 12.53%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter last year, the business posted $0.42 EPS. Howmet Aerospace’s quarterly revenue was up 13.8% compared to the same quarter last year. As a group, sell-side analysts expect that Howmet Aerospace will post 2.37 EPS for the current year.

Howmet Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders 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 of this dividend is Thursday, May 9th. Howmet Aerospace’s dividend payout ratio (DPR) is presently 9.66%.

Insiders Place Their Bets

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $67.44, for a total value of $3,034,800.00. Following 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 Securities & Exchange Commission, which is available through the SEC website. 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.