Howmet Aerospace (NYSE:HWM) Updates Q4 Earnings Guidance

Howmet Aerospace (NYSE:HWM) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.70 to $0.72 for the period, compared to the consensus earnings per share estimate of $0.69. The company issued revenue guidance of $1.85 billion to $1.89 billion, compared to the consensus revenue estimate of $1.89 billion. Howmet Aerospace also updated its FY 2024 guidance to 2.650-2.670 EPS.

Howmet Aerospace Trading Up 2.3 %

HWM stock opened at $102.16 on Wednesday. The company has a market capitalization of $41.70 billion, a PE ratio of 45.20, a price-to-earnings-growth ratio of 1.45 and a beta of 1.46. Howmet Aerospace has a one year low of $47.88 and a one year high of $106.93. The company’s 50 day moving average price is $99.39 and its two-hundred day moving average price is $88.58. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.74 and a current ratio of 1.53.

Howmet Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.31%. The ex-dividend date is Friday, November 8th. Howmet Aerospace’s dividend payout ratio (DPR) is presently 14.16%.

Analyst Upgrades and Downgrades

HWM has been the topic of several research reports. Sanford C. Bernstein lifted their price target on shares of Howmet Aerospace from $113.00 to $127.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Royal Bank of Canada raised their target price on shares of Howmet Aerospace from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. BTIG Research raised their target price on shares of Howmet Aerospace from $95.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Susquehanna initiated coverage on shares of Howmet Aerospace in a report on Tuesday, October 8th. They issued a “positive” rating and a $120.00 target price on the stock. Finally, Robert W. Baird raised their target price on shares of Howmet Aerospace from $84.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.50.

Insider Activity

In other news, CFO Ken Giacobbe sold 154,909 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the sale, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Neil Edward Marchuk sold 70,637 shares of Howmet Aerospace stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 92,687 shares of the company’s stock, valued at $8,985,077.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ken Giacobbe sold 154,909 shares of Howmet Aerospace 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 completion of the transaction, the chief financial officer now directly owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. This 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.

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.