Huntington Ingalls Industries (NYSE:HII) Posts Quarterly Earnings Results, Beats Estimates By $0.77 EPS

Huntington Ingalls Industries (NYSE:HII) posted its quarterly earnings data on Thursday. The aerospace company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.61 by $0.77, Briefing.com reports. Huntington Ingalls Industries had a net margin of 6.09% and a return on equity of 18.08%. The business had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same period last year, the firm posted $3.27 earnings per share. The business’s revenue was up 6.8% on a year-over-year basis. Huntington Ingalls Industries updated its FY 2024 guidance to EPS.

Huntington Ingalls Industries Price Performance

Shares of NYSE:HII traded down $12.98 during midday trading on Thursday, reaching $267.00. 618,926 shares of the company’s stock were exchanged, compared to its average volume of 304,022. The company’s 50 day simple moving average is $253.98 and its two-hundred day simple moving average is $267.02. The firm has a market capitalization of $10.53 billion, a PE ratio of 15.05, a price-to-earnings-growth ratio of 2.39 and a beta of 0.53. Huntington Ingalls Industries has a 12 month low of $199.11 and a 12 month high of $299.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.89 and a current ratio of 0.96.

Huntington Ingalls Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Friday, August 30th. Huntington Ingalls Industries’s payout ratio is 29.31%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HII. Citigroup started coverage on shares of Huntington Ingalls Industries in a research note on Monday, May 20th. They set a “buy” rating and a $310.00 target price for the company. StockNews.com downgraded shares of Huntington Ingalls Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $278.00.

Insider Transactions at Huntington Ingalls Industries

In related news, VP Edmond E. Jr. Hughes sold 1,500 shares of Huntington Ingalls Industries stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $256.07, for a total transaction of $384,105.00. Following the completion of the transaction, the vice president now directly owns 8,135 shares of the company’s stock, valued at approximately $2,083,129.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Huntington Ingalls Industries news, VP Jennifer R. Boykin sold 1,043 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $252.03, for a total value of $262,867.29. Following the completion of the transaction, the vice president now directly owns 11,961 shares of the company’s stock, valued at $3,014,530.83. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Edmond E. Jr. Hughes sold 1,500 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $256.07, for a total transaction of $384,105.00. Following the completion of the transaction, the vice president now directly owns 8,135 shares of the company’s stock, valued at $2,083,129.45. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Huntington Ingalls Industries Company Profile

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.