Howmet Aerospace (NYSE:HWM) Releases FY24 Earnings Guidance

Howmet Aerospace (NYSE:HWM) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.31-2.39 for the period, compared to the consensus 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.

Howmet Aerospace Trading Up 10.5 %

NYSE:HWM opened at $73.80 on Thursday. The stock has a fifty day simple moving average of $66.20 and a 200 day simple moving average of $57.60. The firm has a market capitalization of $30.14 billion, a price-to-earnings ratio of 36.46, a price-to-earnings-growth ratio of 1.74 and a beta of 1.41. Howmet Aerospace has a 1-year low of $42.17 and a 1-year high of $73.80. The company has a quick ratio of 0.87, a current ratio of 1.86 and a debt-to-equity ratio of 0.88.

Howmet Aerospace (NYSE:HWM) last announced its earnings results 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 net margin of 11.52% and a return on equity of 20.12%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the company posted $0.38 earnings per share. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. Sell-side analysts forecast that Howmet Aerospace will post 2.18 earnings per share for the current year.

Howmet Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.27%. The ex-dividend date is Thursday, May 9th. Howmet Aerospace’s dividend payout ratio (DPR) is currently 10.93%.

Wall Street Analysts Forecast Growth

HWM has been the topic of several recent analyst reports. UBS Group boosted their target price on shares of Howmet Aerospace from $57.00 to $66.00 and gave the company a neutral rating in a research note on Thursday, February 15th. KeyCorp boosted their target price on shares of Howmet Aerospace from $60.00 to $70.00 and gave the company an overweight rating in a research note on Wednesday, February 21st. Sanford C. Bernstein initiated coverage on shares of Howmet Aerospace in a research note on Friday, January 5th. They set an outperform rating and a $67.00 target price on the stock. Barclays boosted their target price 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. Finally, Truist Financial raised shares of Howmet Aerospace from a hold rating to a buy rating and boosted their target price for the company from $47.00 to $74.00 in a research note on Wednesday, January 10th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $66.00.

Insider Transactions 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 shares were 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 directly owns 229,568 shares of the company’s stock, valued at $15,482,065.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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.