Howmet Aerospace (NYSE:HWM) Updates Q3 2024 Earnings Guidance

Howmet Aerospace (NYSE:HWM) updated its third quarter 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 0.630-0.650 for the period, compared to the consensus earnings per share estimate of 0.600. The company issued revenue guidance of $1.8 billion-$1.9 billion, compared to the consensus revenue estimate of $1.8 billion. Howmet Aerospace also updated its FY 2024 guidance to 2.530-2.570 EPS.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on HWM shares. JPMorgan Chase & Co. lifted their price target on Howmet Aerospace from $83.00 to $105.00 and gave the company an overweight rating in a research note on Wednesday. Robert W. Baird boosted their target price on Howmet Aerospace from $84.00 to $113.00 and gave the stock an outperform rating in a report on Wednesday. Northcoast Research restated a sell rating and set a $70.00 target price on shares of Howmet Aerospace in a report on Friday, June 14th. Truist Financial upped their price objective on Howmet Aerospace from $88.00 to $105.00 and gave the company a buy rating in a report on Wednesday. Finally, KeyCorp upped their price objective on Howmet Aerospace from $70.00 to $90.00 and gave the company an overweight rating in a report on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $84.00.

Howmet Aerospace Stock Performance

Shares of HWM traded up $2.23 during mid-day trading on Wednesday, hitting $96.04. 1,961,437 shares of the company’s stock were exchanged, compared to its average volume of 3,228,614. Howmet Aerospace has a fifty-two week low of $42.94 and a fifty-two week high of $96.50. The firm has a market capitalization of $39.20 billion, a P/E ratio of 46.43, a P/E/G ratio of 1.51 and a beta of 1.45. The business’s 50 day moving average is $81.38 and its two-hundred day moving average is $71.45. The company has a current ratio of 1.97, a quick ratio of 0.92 and a debt-to-equity ratio of 0.86.

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

Howmet Aerospace Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, August 9th. This represents a $0.32 dividend on an annualized basis and a yield of 0.33%. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.05. Howmet Aerospace’s dividend payout ratio (DPR) is presently 9.66%.

Insider Transactions at Howmet Aerospace

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 32,614 shares of Howmet Aerospace 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 completion of the sale, the executive vice president now directly owns 217,687 shares of the company’s stock, valued at approximately $18,342,306.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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.