Huntington Ingalls Industries (NYSE:HII) Releases Earnings Results, Misses Estimates By $1.28 EPS

Huntington Ingalls Industries (NYSE:HII) issued its quarterly earnings data on Thursday. The aerospace company reported $2.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.84 by ($1.28), Briefing.com reports. The business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.87 billion. Huntington Ingalls Industries had a net margin of 6.35% and a return on equity of 18.55%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.70 earnings per share. Huntington Ingalls Industries updated its FY 2024 guidance to EPS.

Huntington Ingalls Industries Trading Up 2.3 %

NYSE HII traded up $4.27 during trading on Friday, hitting $189.23. 1,492,251 shares of the company’s stock traded hands, compared to its average volume of 322,322. The firm has a market cap of $7.42 billion, a P/E ratio of 10.04, a PEG ratio of 2.19 and a beta of 0.52. Huntington Ingalls Industries has a 12-month low of $184.29 and a 12-month high of $299.50. The stock has a fifty day moving average of $260.62 and a two-hundred day moving average of $258.96. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.82 and a quick ratio of 0.76.

Huntington Ingalls Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.85%. This is a positive change from Huntington Ingalls Industries’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, November 29th. Huntington Ingalls Industries’s payout ratio is presently 27.59%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft decreased their target price on Huntington Ingalls Industries from $273.00 to $191.00 and set a “hold” rating for the company in a research report on Friday. TD Cowen lowered shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating and set a $180.00 price objective for the company. in a research note on Friday. Alembic Global Advisors downgraded Huntington Ingalls Industries from an “overweight” rating to a “neutral” rating and set a $210.00 target price on the stock. in a research report on Friday. JPMorgan Chase & Co. cut Huntington Ingalls Industries from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $280.00 to $285.00 in a report on Monday, September 9th. Finally, StockNews.com downgraded shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $241.88.

About Huntington Ingalls Industries

Huntington Ingalls Industries, Inc designs, builds, overhauls, and repairs military ships in the United States. It operates through three segments: Ingalls, Newport News, and Mission Technologies. The company is involved in the design and construction of non-nuclear ships comprising amphibious assault ships; expeditionary warfare ships; surface combatants; and national security cutters for the U.S.