Howmet Aerospace (NYSE:HWM) Updates FY24 Earnings Guidance

Howmet Aerospace (NYSE:HWM) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $2.65 to $2.66 for the period, compared to the consensus EPS estimate of $2.59. The company issued revenue guidance of $7.39 billion to $7.43 billion, compared to the consensus revenue estimate of $7.44 billion. Howmet Aerospace also updated its FY 2024 guidance to 2.650-2.670 EPS.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on HWM shares. JPMorgan Chase & Co. increased their target price on shares of Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Sanford C. Bernstein increased their price target on Howmet Aerospace from $113.00 to $127.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. UBS Group boosted their price objective on shares of Howmet Aerospace from $103.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday. Barclays raised their target price on shares of Howmet Aerospace from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, Royal Bank of Canada boosted their price target on shares of Howmet Aerospace from $105.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Howmet Aerospace currently has an average rating of “Moderate Buy” and a consensus price target of $109.75.

Howmet Aerospace Stock Up 2.2 %

NYSE HWM traded up $2.43 on Friday, reaching $113.65. The company had a trading volume of 2,000,771 shares, compared to its average volume of 2,952,764. Howmet Aerospace has a 1 year low of $48.39 and a 1 year high of $115.38. The firm has a market capitalization of $46.39 billion, a PE ratio of 50.21, a P/E/G ratio of 1.45 and a beta of 1.46. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.53 and a quick ratio of 0.74. The firm has a 50-day moving average of $100.04 and a 200-day moving average of $88.92.

Howmet Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be paid a $0.08 dividend. 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 dividend payout ratio (DPR) is 14.16%.

Insider Buying and Selling at Howmet Aerospace

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was 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 directly owns 92,687 shares in the company, valued at approximately $8,985,077.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of Howmet Aerospace 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 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 filing with the SEC, which can be accessed through this hyperlink. Also, EVP Neil Edward Marchuk sold 70,637 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was 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 directly owns 92,687 shares in the company, valued at $8,985,077.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.12% of the stock is owned by 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.