Howmet Aerospace (NYSE:HWM) Updates FY24 Earnings Guidance

Howmet Aerospace (NYSE:HWM) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $2.65 to $2.66 for the period, compared to the consensus EPS estimate of $2.59. The company issued revenue guidance of $7.39 billion to $7.43 billion, compared to the consensus revenue estimate of $7.44 billion. Howmet Aerospace also updated its FY 2024 guidance to 2.650-2.670 EPS.

Wall Street Analysts Forecast Growth

HWM has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. UBS Group boosted their price target on Howmet Aerospace from $103.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday. BTIG Research lifted their target price on shares of Howmet Aerospace from $95.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. KeyCorp lowered shares of Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Finally, Susquehanna lifted their price target on Howmet Aerospace from $120.00 to $132.00 and gave the stock a “positive” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Howmet Aerospace presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.75.

Howmet Aerospace Stock Up 2.3 %

Shares of Howmet Aerospace stock traded up $2.51 on Friday, reaching $113.65. 2,000,788 shares of the company were exchanged, compared to its average volume of 2,950,627. Howmet Aerospace has a 1-year low of $48.39 and a 1-year high of $115.38. The stock’s 50 day moving average price is $100.04 and its 200-day moving average price is $88.92. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.53 and a quick ratio of 0.74. The company has a market cap of $46.39 billion, a P/E ratio of 50.21, a price-to-earnings-growth ratio of 1.45 and a beta of 1.46.

Howmet Aerospace Announces Dividend

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

Insider Activity

In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the transaction, the chief financial officer now owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Ken Giacobbe sold 154,909 shares of Howmet Aerospace 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 transaction, the chief financial officer now directly owns 155,135 shares of the company’s stock, valued at $14,982,938.30. 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. Also, EVP Neil Edward Marchuk sold 70,637 shares of the stock in a transaction 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 owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company 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.