Huntington Ingalls Industries (NYSE:HII) Sets New 1-Year Low Following Weak Earnings

Huntington Ingalls Industries, Inc. (NYSE:HII) shares hit a new 52-week low during trading on Thursday following a weaker than expected earnings announcement. The stock 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 (EPS) for the quarter, missing the consensus estimate 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 company’s revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the company earned $3.70 earnings per share.

Huntington Ingalls Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $1.35 per share. This is a boost from Huntington Ingalls Industries’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, November 29th. This represents a $5.40 annualized dividend and a dividend yield of 2.85%. Huntington Ingalls Industries’s dividend payout ratio (DPR) is presently 27.59%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HII. Deutsche Bank Aktiengesellschaft cut their price objective on Huntington Ingalls Industries from $273.00 to $191.00 and set a “hold” rating on the stock in a research note on Friday. Wolfe Research downgraded Huntington Ingalls Industries from an “outperform” rating to a “peer perform” rating in a report on Thursday, October 10th. TD Cowen cut Huntington Ingalls Industries from a “buy” rating to a “hold” rating and set a $180.00 price objective on the stock. in a research note on Friday. Vertical Research downgraded shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating and set a $275.00 price objective for the company. in a report on Thursday, October 10th. Finally, Alembic Global Advisors cut shares of Huntington Ingalls Industries from an “overweight” rating to a “neutral” rating and set a $210.00 target price on the stock. in a report on Friday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $241.88.

Institutional Investors Weigh In On Huntington Ingalls Industries

Large investors have recently added to or reduced their stakes in the stock. CWM LLC grew its position in shares of Huntington Ingalls Industries by 142.8% during the third quarter. CWM LLC now owns 5,251 shares of the aerospace company’s stock worth $1,388,000 after acquiring an additional 3,088 shares during the last quarter. SteelPeak Wealth LLC bought a new position in Huntington Ingalls Industries in the 2nd quarter worth about $1,769,000. SG Americas Securities LLC increased its stake in shares of Huntington Ingalls Industries by 950.1% in the first quarter. SG Americas Securities LLC now owns 38,454 shares of the aerospace company’s stock valued at $11,208,000 after purchasing an additional 34,792 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Huntington Ingalls Industries by 30.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 49,805 shares of the aerospace company’s stock valued at $14,517,000 after buying an additional 11,647 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Huntington Ingalls Industries during the first quarter worth approximately $1,821,000. 90.46% of the stock is owned by institutional investors and hedge funds.

Huntington Ingalls Industries Price Performance

The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.76 and a current ratio of 0.82. The firm has a market capitalization of $7.42 billion, a P/E ratio of 10.04, a price-to-earnings-growth ratio of 2.19 and a beta of 0.52. The business has a fifty day moving average of $260.62 and a 200-day moving average of $258.96.

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.