Howmet Aerospace (NYSE:HWM) Issues Earnings Results, Beats Estimates By $0.07 EPS

Howmet Aerospace (NYSE:HWM) released its earnings results on Tuesday. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07, Briefing.com reports. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Howmet Aerospace had a return on equity of 21.33% and a net margin of 12.53%. The company’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS.

Howmet Aerospace Stock Performance

NYSE HWM opened at $82.85 on Tuesday. The stock has a market cap of $33.82 billion, a PE ratio of 40.02, a P/E/G ratio of 1.50 and a beta of 1.46. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.92 and a current ratio of 1.97. The firm has a 50-day moving average of $81.20 and a 200-day moving average of $71.18. Howmet Aerospace has a 52-week low of $42.94 and a 52-week high of $85.52.

Howmet Aerospace Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Friday, August 9th will be given a $0.08 dividend. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.05. This represents a $0.32 annualized dividend and a dividend yield of 0.39%. Howmet Aerospace’s dividend payout ratio is presently 9.66%.

Insider Activity at Howmet Aerospace

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 transaction of $2,748,055.64. Following the completion of the sale, the executive vice president now directly 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 available at this hyperlink. 1.12% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

HWM has been the subject of a number of research reports. Argus increased their price objective on Howmet Aerospace from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Northcoast Research reissued a “sell” rating and issued a $70.00 price objective on shares of Howmet Aerospace in a research report on Friday, June 14th. Truist Financial raised their target price on shares of Howmet Aerospace from $74.00 to $88.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Royal Bank of Canada lifted their price target on shares of Howmet Aerospace from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Finally, BTIG Research began coverage on shares of Howmet Aerospace in a research note on Wednesday, June 26th. They set a “buy” rating and a $95.00 price objective for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $77.76.

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.