Howmet Aerospace (NYSE:HWM) Issues Q2 2024 Earnings Guidance

Howmet Aerospace (NYSE:HWM - Get Free Report) updated its second quarter 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 0.570-0.590 for the period, compared to the consensus estimate of 0.540. The company issued revenue guidance of $1.8 billion-$1.8 billion, compared to the consensus revenue estimate of $1.8 billion. Howmet Aerospace also updated its FY 2024 guidance to 2.310-2.390 EPS.

Howmet Aerospace Trading Up 2.3 %

HWM traded up $1.78 on Friday, hitting $78.88. 6,147,895 shares of the company were exchanged, compared to its average volume of 3,471,711. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.87 and a current ratio of 1.86. Howmet Aerospace has a 12 month low of $42.17 and a 12 month high of $79.47. The firm has a fifty day simple moving average of $66.44 and a two-hundred day simple moving average of $57.73. The stock has a market capitalization of $32.21 billion, a PE ratio of 43.10, a price-to-earnings-growth ratio of 1.74 and a beta of 1.41.

Howmet Aerospace (NYSE:HWM - Get Free Report) last issued its earnings results on Thursday, May 2nd. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.05. Howmet Aerospace had a net margin of 11.52% and a return on equity of 20.12%. The firm had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $1.74 billion. During the same quarter last year, the business earned $0.42 earnings per share. The business's revenue was up 13.8% on a year-over-year basis. Sell-side analysts expect that Howmet Aerospace will post 2.18 earnings per share for the current year.

Howmet Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Friday, May 10th will be paid a $0.05 dividend. The ex-dividend date is Thursday, May 9th. This represents a $0.20 annualized dividend and a dividend yield of 0.25%. Howmet Aerospace's payout ratio is presently 10.93%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on HWM. 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. Robert W. Baird upped their price objective on shares of Howmet Aerospace from $74.00 to $84.00 and gave the stock an outperform rating in a report on Friday. The Goldman Sachs Group raised their target price on shares of Howmet Aerospace from $77.00 to $87.00 and gave the stock a buy rating in a research report on Friday. UBS Group boosted their price target on shares of Howmet Aerospace from $57.00 to $66.00 and gave the company a neutral rating in a research report on Thursday, February 15th. Finally, KeyCorp lifted their price objective on Howmet Aerospace from $60.00 to $70.00 and gave the company an overweight rating in a research report on Wednesday, February 21st. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Howmet Aerospace presently has a consensus rating of Moderate Buy and an average target price of $69.77.

Insider Buying and Selling at Howmet Aerospace

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 45,000 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 229,568 shares in the company, valued at approximately $15,482,065.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.12% of the stock is 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.