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

Howmet Aerospace (NYSE:HWM) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 2.650-2.670 for the period, compared to the consensus estimate of 2.590. The company issued revenue guidance of $7.4 billion-$7.4 billion, compared to the consensus revenue estimate of $7.5 billion. Howmet Aerospace also updated its FY24 guidance to $2.65 to $2.66 EPS.

Howmet Aerospace Stock Performance

Shares of Howmet Aerospace stock traded up $2.87 during trading on Friday, hitting $114.01. 1,218,706 shares of the stock were exchanged, compared to its average volume of 2,948,909. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.74 and a current ratio of 1.53. Howmet Aerospace has a 12 month low of $48.39 and a 12 month high of $115.38. The stock’s fifty day moving average is $99.75 and its 200 day moving average is $88.76. The stock has a market cap 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 Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on HWM shares. Robert W. Baird upped their target price on Howmet Aerospace from $113.00 to $144.00 and gave the stock an “outperform” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft raised their target price on Howmet Aerospace from $106.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. lifted their target price on Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Benchmark upped their price target on shares of Howmet Aerospace from $53.00 to $85.00 and gave the company a “buy” rating in a report on Friday, July 12th. Finally, Susquehanna lifted their price objective on shares of Howmet Aerospace from $120.00 to $132.00 and gave the stock a “positive” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Howmet Aerospace has an average rating of “Moderate Buy” and a consensus price target of $109.75.

Insider Transactions at Howmet Aerospace

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $96.94, for a total value of $6,847,550.78. Following the transaction, the executive vice president now directly owns 92,687 shares of the company’s stock, valued at $8,985,077.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Ken Giacobbe sold 154,909 shares of the company’s stock in a transaction 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 sale, the chief financial officer now directly owns 155,135 shares in the company, valued at approximately $14,982,938.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Neil Edward Marchuk sold 70,637 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $96.94, for a total value of $6,847,550.78. Following the completion of the sale, the executive vice president now directly owns 92,687 shares of the company’s stock, valued at $8,985,077.78. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by company 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.