Howmet Aerospace (NYSE:HWM) Updates Q2 Earnings Guidance

Howmet Aerospace (NYSE:HWM) updated its second quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.57-0.59 for the period, compared to the consensus earnings per share estimate of $0.54. The company issued revenue guidance of $1.825-1.845 billion, compared to the consensus revenue estimate of $1.77 billion. Howmet Aerospace also updated its FY24 guidance to $2.31-2.39 EPS.

Analyst Upgrades and Downgrades

Several research firms have weighed in on HWM. Benchmark reiterated a buy rating and issued a $53.00 target price on shares of Howmet Aerospace in a report on Friday, April 19th. Barclays boosted their price target on shares of Howmet Aerospace from $60.00 to $65.00 and gave the company an overweight rating in a research note on Tuesday, February 20th. Robert W. Baird upped their target price on shares of Howmet Aerospace from $74.00 to $84.00 and gave the stock an outperform rating in a research note on Friday. UBS Group upped their target price on shares of Howmet Aerospace from $57.00 to $66.00 and gave the stock a neutral rating in a research note on Thursday, February 15th. Finally, The Goldman Sachs Group upped their target price on shares of Howmet Aerospace from $77.00 to $87.00 and gave the stock a buy rating in a research note on Friday. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Howmet Aerospace currently has a consensus rating of Moderate Buy and an average price target of $69.77.

Howmet Aerospace Stock Up 2.3 %

Shares of Howmet Aerospace stock traded up $1.79 during trading hours on Friday, hitting $78.89. The company had a trading volume of 6,147,936 shares, compared to its average volume of 3,546,927. The company’s 50-day moving average is $66.70 and its two-hundred day moving average is $57.97. Howmet Aerospace has a twelve month low of $42.17 and a twelve month high of $79.47. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.97 and a quick ratio of 0.87. The company has a market cap of $32.22 billion, a P/E ratio of 38.11, a price-to-earnings-growth ratio of 1.91 and a beta of 1.41.

Howmet Aerospace (NYSE:HWM) last issued its earnings results on Thursday, May 2nd. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.05. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Howmet Aerospace had a net margin of 12.53% and a return on equity of 21.33%. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.42 EPS. Analysts anticipate that Howmet Aerospace will post 2.37 earnings per share for the current fiscal year.

Howmet Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Friday, May 10th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend is Thursday, May 9th. Howmet Aerospace’s dividend payout ratio is currently 9.66%.

Insider Buying and Selling

In other news, EVP Neil Edward Marchuk sold 45,000 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $67.44, for a total value of $3,034,800.00. Following the completion of the sale, the executive vice president now owns 229,568 shares in the company, valued at approximately $15,482,065.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.12% of the stock is 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.