Huntington Ingalls Industries (NYSE:HII) Hits New 52-Week Low Following Weak Earnings

Huntington Ingalls Industries, Inc. (NYSE:HII) hit a new 52-week low during mid-day trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $212.55 and last traded at $212.55, with a volume of 9654 shares traded. The stock had previously closed at $250.49.

The aerospace company reported $2.56 earnings per share for the quarter, missing analysts’ consensus estimates of $3.84 by ($1.28). The company had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.87 billion. Huntington Ingalls Industries had a net margin of 6.35% and a return on equity of 18.55%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.70 earnings per share.

Huntington Ingalls Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $1.35 dividend. This is a positive change from Huntington Ingalls Industries’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend is Friday, November 29th. Huntington Ingalls Industries’s payout ratio is currently 27.59%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HII. StockNews.com lowered shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a report on Friday. Wolfe Research downgraded shares of Huntington Ingalls Industries from an “outperform” rating to a “peer perform” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. cut shares of Huntington Ingalls Industries from an “overweight” rating to a “neutral” rating and upped their price target for the company from $280.00 to $285.00 in a research report on Monday, September 9th. Alembic Global Advisors lowered Huntington Ingalls Industries from an “overweight” rating to a “neutral” rating and set a $210.00 price objective for the company. in a research report on Friday. Finally, Vertical Research lowered Huntington Ingalls Industries from a “buy” rating to a “hold” rating and set a $275.00 target price on the stock. in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Huntington Ingalls Industries has a consensus rating of “Hold” and an average price target of $241.88.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Huntington Ingalls Industries during the second quarter worth approximately $26,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Huntington Ingalls Industries during the third quarter valued at about $29,000. Fidelis Capital Partners LLC acquired a new position in shares of Huntington Ingalls Industries during the first quarter valued at about $31,000. Larson Financial Group LLC raised its holdings in shares of Huntington Ingalls Industries by 158.5% in the 1st quarter. Larson Financial Group LLC now owns 106 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 65 shares during the last quarter. Finally, Evermay Wealth Management LLC bought a new position in Huntington Ingalls Industries in the 1st quarter valued at about $31,000. Institutional investors own 90.46% of the company’s stock.

Huntington Ingalls Industries Stock Performance

The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 0.41. The company’s 50-day moving average is $260.62 and its two-hundred day moving average is $258.96. The firm has a market cap of $7.42 billion, a P/E ratio of 10.04, a PEG ratio of 2.19 and a beta of 0.52.

Huntington Ingalls Industries Company Profile

Huntington Ingalls Industries, Inc designs, builds, overhauls, and repairs military ships in the United States. It operates through three segments: Ingalls, Newport News, and Mission Technologies. The company is involved in the design and construction of non-nuclear ships comprising amphibious assault ships; expeditionary warfare ships; surface combatants; and national security cutters for the U.S.