Howmet Aerospace (NYSE:HWM) Releases FY24 Earnings Guidance

Howmet Aerospace (NYSE:HWM) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.53-2.57 for the period, compared to the consensus 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.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HWM. JPMorgan Chase & Co. increased their price objective on shares of Howmet Aerospace from $83.00 to $105.00 and gave the company an overweight rating in a research report on Wednesday. Barclays raised their target price on shares of Howmet Aerospace from $65.00 to $85.00 and gave the stock an overweight rating in a research note on Monday, May 6th. KeyCorp increased their price objective on shares of Howmet Aerospace from $70.00 to $90.00 and gave the company an overweight rating in a report on Tuesday, May 28th. Truist Financial increased their price objective on shares of Howmet Aerospace from $88.00 to $105.00 and gave the company a buy rating in a report on Wednesday. Finally, The Goldman Sachs Group raised 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, May 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Howmet Aerospace presently has an average rating of Moderate Buy and a consensus price target of $84.00.

Howmet Aerospace Stock Performance

NYSE HWM traded up $2.25 on Wednesday, reaching $96.06. The stock had a trading volume of 2,254,425 shares, compared to its average volume of 3,230,621. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.92 and a current ratio of 1.97. Howmet Aerospace has a 12-month low of $42.94 and a 12-month high of $96.50. The business’s 50-day moving average price is $81.38 and its 200 day moving average price is $71.45. The stock has a market cap of $39.21 billion, a P/E ratio of 46.43, a price-to-earnings-growth ratio of 1.51 and a beta of 1.45.

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 company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the previous year, the business earned $0.44 earnings per share. Howmet Aerospace’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, equities analysts expect that Howmet Aerospace will post 2.39 earnings per share for the current 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 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 of this dividend is Friday, August 9th. This represents a $0.32 annualized dividend and a yield of 0.33%. Howmet Aerospace’s dividend payout ratio is 9.66%.

Insider Transactions at Howmet Aerospace

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 32,614 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 217,687 shares in the company, valued at approximately $18,342,306.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.12% of the company’s stock.

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.