Howmet Aerospace (NYSE:HWM) Releases FY24 Earnings Guidance

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

Howmet Aerospace Stock Down 0.9 %

HWM stock opened at $94.00 on Friday. Howmet Aerospace has a 52-week low of $42.94 and a 52-week high of $97.29. The company’s 50 day simple moving average is $81.87 and its 200-day simple moving average is $71.78. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.53 and a quick ratio of 0.92. The firm has a market capitalization of $38.37 billion, a P/E ratio of 45.83, a P/E/G ratio of 1.73 and a beta of 1.45.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. Howmet Aerospace had a net margin of 13.15% and a return on equity of 23.02%. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the previous year, the business earned $0.44 earnings per share. The firm’s revenue was up 14.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Howmet Aerospace will post 2.4 EPS for the current year.

Howmet Aerospace Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Friday, August 9th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, August 9th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.34%. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.05. Howmet Aerospace’s payout ratio is currently 9.66%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on HWM shares. Argus boosted their price target on shares of Howmet Aerospace from $75.00 to $90.00 and gave the company a buy rating in a report on Monday, May 6th. KeyCorp upped their price objective on shares of Howmet Aerospace from $90.00 to $105.00 and gave the company an overweight rating in a research note on Thursday. Truist Financial upped their price objective on shares of Howmet Aerospace from $88.00 to $105.00 and gave the company a buy rating in a research note on Wednesday. The Goldman Sachs Group upped their price objective on shares of Howmet Aerospace from $77.00 to $87.00 and gave the company a buy rating in a research note on Friday, May 3rd. Finally, Robert W. Baird upped their price objective on shares of Howmet Aerospace from $84.00 to $113.00 and gave the company an outperform rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $84.88.

Insider Buying and Selling at Howmet Aerospace

In other 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 value of $2,748,055.64. Following the completion of the transaction, the executive vice president now owns 217,687 shares in the company, valued at approximately $18,342,306.62. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.12% of the company’s stock.

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.