Howmet Aerospace (NYSE:HWM) Updates FY 2024 Earnings Guidance

Howmet Aerospace (NYSE:HWM) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 2.650-2.670 for the period, compared to the consensus EPS estimate of 2.590. The company issued revenue guidance of $7.4 billion-$7.4 billion, compared to the consensus revenue estimate of $7.5 billion. Howmet Aerospace also updated its FY24 guidance to $2.65 to $2.66 EPS.

Howmet Aerospace Price Performance

Shares of Howmet Aerospace stock traded up $2.68 during trading on Friday, reaching $113.90. The company’s stock had a trading volume of 1,072,090 shares, compared to its average volume of 2,948,484. The company has a market capitalization of $46.49 billion, a P/E ratio of 49.22, a price-to-earnings-growth ratio of 1.45 and a beta of 1.46. Howmet Aerospace has a 12-month low of $48.39 and a 12-month high of $115.38. The business has a 50 day moving average price of $99.75 and a 200-day moving average price of $88.76. The company has a quick ratio of 0.74, a current ratio of 1.53 and a debt-to-equity ratio of 0.68.

Howmet Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a yield of 0.28%. Howmet Aerospace’s payout ratio is 14.16%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Sanford C. Bernstein increased their target price on Howmet Aerospace from $113.00 to $127.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Robert W. Baird increased their price target on Howmet Aerospace from $113.00 to $144.00 and gave the stock an “outperform” rating in a research note on Thursday. Truist Financial lifted their price objective on Howmet Aerospace from $123.00 to $128.00 and gave the company a “buy” rating in a research report on Thursday. BTIG Research raised their price target on Howmet Aerospace from $95.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, Barclays upped their price objective on shares of Howmet Aerospace from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.75.

Insider Activity at Howmet Aerospace

In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total value of $14,961,111.22. Following the completion of the sale, the chief financial officer now owns 155,135 shares of the company’s stock, valued at $14,982,938.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Ken Giacobbe sold 154,909 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total value of $14,961,111.22. Following the transaction, the chief financial officer now owns 155,135 shares in the company, valued at approximately $14,982,938.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Neil Edward Marchuk sold 70,637 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $96.94, for a total value of $6,847,550.78. Following the sale, the executive vice president now owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company 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.