Howmet Aerospace (NYSE:HWM) Updates Q4 Earnings Guidance

Howmet Aerospace (NYSE:HWM) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.70 to $0.72 for the period, compared to the consensus earnings per share estimate of $0.69. The company issued revenue guidance of $1.85 billion to $1.89 billion, compared to the consensus revenue estimate of $1.89 billion. Howmet Aerospace also updated its FY 2024 guidance to 2.650-2.670 EPS.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HWM. BTIG Research upped their target price on Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Royal Bank of Canada upped their target price on Howmet Aerospace from $105.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday. KeyCorp downgraded Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. increased their price target on Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, UBS Group increased their price target on Howmet Aerospace from $103.00 to $120.00 and gave the stock a “neutral” 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 given a buy rating to the company’s stock. According to data from MarketBeat, Howmet Aerospace presently has an average rating of “Moderate Buy” and a consensus price target of $109.75.

Howmet Aerospace Trading Up 2.3 %

Shares of HWM opened at $113.67 on Friday. Howmet Aerospace has a 52-week low of $48.39 and a 52-week high of $115.38. The business’s fifty day moving average is $100.04 and its 200-day moving average is $88.92. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.74 and a current ratio of 1.53. The firm has a market cap of $46.39 billion, a price-to-earnings ratio of 50.21, a PEG ratio of 1.45 and a beta of 1.46.

Howmet Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be issued 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 14.16%.

Insider Activity at Howmet Aerospace

In related news, CFO Ken Giacobbe sold 154,909 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer now owns 155,135 shares of the company’s stock, valued at $14,982,938.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of Howmet Aerospace stock in a transaction dated 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 transaction, the executive vice president now directly owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ken Giacobbe sold 154,909 shares of Howmet Aerospace stock in a transaction dated Thursday, August 22nd. The stock was 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 in the company, valued at $14,982,938.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by company insiders.

Howmet Aerospace Company Profile

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.