Howmet Aerospace (NYSE:HWM) Announces Quarterly Earnings Results

Howmet Aerospace (NYSE:HWM - Get Free Report) announced its quarterly earnings data on Thursday. The company reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.05, Yahoo Finance reports. Howmet Aerospace had a return on equity of 21.33% and a net margin of 12.53%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the firm posted $0.42 EPS. The firm's revenue for the quarter was up 13.8% on a year-over-year basis. Howmet Aerospace updated its Q2 guidance to $0.57-0.59 EPS and its FY24 guidance to $2.31-2.39 EPS.

Howmet Aerospace Trading Up 2.3 %

NYSE:HWM traded up $1.79 during trading hours on Friday, reaching $78.89. 6,147,936 shares of the stock were exchanged, compared to its average volume of 3,546,927. The business has a 50-day moving average of $66.70 and a two-hundred day moving average of $57.97. Howmet Aerospace has a twelve month low of $42.17 and a twelve month high of $79.47. The company has a quick ratio of 0.87, a current ratio of 1.97 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $32.22 billion, a price-to-earnings ratio of 38.11, a PEG ratio of 1.86 and a beta of 1.41.

Howmet Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Friday, May 10th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date is Thursday, May 9th. Howmet Aerospace's dividend payout ratio (DPR) is 9.66%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on HWM shares. Benchmark reissued a "buy" rating and issued a $53.00 price target on shares of Howmet Aerospace in a research note on Friday, April 19th. Sanford C. Bernstein initiated coverage on Howmet Aerospace in a report on Friday, January 5th. They set an "outperform" rating and a $67.00 target price on the stock. JPMorgan Chase & Co. increased their price target on Howmet Aerospace from $55.00 to $60.00 and gave the company an "overweight" rating in a report on Wednesday, February 14th. Truist Financial lifted their price objective on Howmet Aerospace from $74.00 to $88.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Barclays upped their target price on Howmet Aerospace from $60.00 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, February 20th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Howmet Aerospace currently has a consensus rating of "Moderate Buy" and an average price target of $69.77.

Insider Activity at Howmet Aerospace

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 45,000 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president now owns 229,568 shares of the company's stock, valued at approximately $15,482,065.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.