Howmet Aerospace (NYSE:HWM) Issues FY24 Earnings Guidance

Howmet Aerospace (NYSE:HWM - Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $2.31-2.39 for the period, compared to the consensus earnings per share estimate of $2.21. The company issued revenue guidance of $7.225-7.375 billion, compared to the consensus revenue estimate of $7.14 billion. Howmet Aerospace also updated its Q2 guidance to $0.57-0.59 EPS.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on HWM shares. Robert W. Baird raised their price target on Howmet Aerospace from $65.00 to $74.00 and gave the stock an outperform rating in a research report on Monday, April 8th. Royal Bank of Canada initiated coverage on Howmet Aerospace in a report on Monday, March 18th. They issued an outperform rating and a $75.00 price objective for the company. Truist Financial upgraded Howmet Aerospace from a hold rating to a buy rating and lifted their price objective for the company from $47.00 to $74.00 in a report on Wednesday, January 10th. KeyCorp boosted their target price on shares of Howmet Aerospace from $60.00 to $70.00 and gave the stock an overweight rating in a report on Wednesday, February 21st. Finally, UBS Group boosted their target price on shares of Howmet Aerospace from $57.00 to $66.00 and gave the stock a neutral rating in a report on Thursday, February 15th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $66.00.

Howmet Aerospace Stock Performance

NYSE:HWM traded up $10.32 during midday trading on Thursday, hitting $77.10. The company's stock had a trading volume of 8,861,040 shares, compared to its average volume of 3,440,220. Howmet Aerospace has a fifty-two week low of $42.17 and a fifty-two week high of $77.88. The firm's 50 day moving average is $66.44 and its 200-day moving average is $57.73. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.86 and a quick ratio of 0.87. The firm has a market cap of $31.49 billion, a P/E ratio of 42.13, a P/E/G ratio of 1.74 and a beta of 1.41.

Howmet Aerospace (NYSE:HWM - Get Free Report) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.47 by $0.06. Howmet Aerospace had a return on equity of 20.12% and a net margin of 11.52%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the firm posted $0.38 EPS. The business's quarterly revenue was up 14.4% compared to the same quarter last year. Equities analysts anticipate that Howmet Aerospace will post 2.18 earnings per share for the current fiscal year.

Howmet Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Friday, May 10th will be given a $0.05 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.20 annualized dividend and a yield of 0.26%. Howmet Aerospace's dividend payout ratio is presently 10.93%.

Insiders Place Their Bets

In other news, EVP Neil Edward Marchuk sold 45,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $67.44, for a total transaction of $3,034,800.00. Following the transaction, the executive vice president now owns 229,568 shares in the company, valued at approximately $15,482,065.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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.