Howmet Aerospace (NYSE:HWM) Issues Q4 2024 Earnings Guidance

Howmet Aerospace (NYSE:HWM) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.700-0.720 for the period, compared to the consensus estimate of 0.690. The company issued revenue guidance of $1.9 billion-$1.9 billion, compared to the consensus revenue estimate of $1.9 billion. Howmet Aerospace also updated its FY 2024 guidance to 2.650-2.670 EPS.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on HWM shares. BTIG Research raised their price objective on Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Royal Bank of Canada increased their price objective on Howmet Aerospace from $105.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday. Truist Financial upped their target price on shares of Howmet Aerospace from $123.00 to $128.00 and gave the stock a “buy” rating in a research note on Thursday. Benchmark boosted their price target on shares of Howmet Aerospace from $53.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Finally, 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 note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Howmet Aerospace has a consensus rating of “Moderate Buy” and an average price target of $109.75.

Howmet Aerospace Stock Performance

Howmet Aerospace stock traded up $2.87 during midday trading on Friday, reaching $114.01. The stock had a trading volume of 1,218,706 shares, compared to its average volume of 2,948,909. The firm has a market capitalization of $46.53 billion, a PE ratio of 49.22, a P/E/G ratio of 1.45 and a beta of 1.46. Howmet Aerospace has a 12 month low of $48.39 and a 12 month high of $115.38. The company has a quick ratio of 0.74, a current ratio of 1.53 and a debt-to-equity ratio of 0.68. The firm’s 50-day moving average price is $99.75 and its 200 day moving average price is $88.76.

Howmet Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend is Friday, November 8th. Howmet Aerospace’s payout ratio is currently 14.16%.

Insider Buying and Selling

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the sale, the executive vice president now owns 92,687 shares of the company’s stock, valued at $8,985,077.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Ken Giacobbe sold 154,909 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total value of $14,961,111.22. Following the completion of the transaction, the chief financial officer now directly owns 155,135 shares in the company, valued at approximately $14,982,938.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Neil Edward Marchuk sold 70,637 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the sale, the executive vice president now directly owns 92,687 shares in the company, valued at $8,985,077.78. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.12% of the stock is owned by 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.