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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Susquehanna upped their price objective on Howmet Aerospace from $120.00 to $132.00 and gave the company a “positive” rating in a research note on Thursday. Barclays lifted their target price on Howmet Aerospace from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Truist Financial increased their price target on Howmet Aerospace from $123.00 to $128.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Howmet Aerospace from $106.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $109.75.

Howmet Aerospace Price Performance

Shares of NYSE HWM traded up $2.68 during midday trading on Friday, reaching $113.90. The company’s stock had a trading volume of 1,223,552 shares, compared to its average volume of 2,949,182. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.74 and a current ratio of 1.53. The company has a market cap of $46.49 billion, a P/E ratio of 49.22, a P/E/G ratio of 1.45 and a beta of 1.46. The business’s 50 day moving average price is $99.75 and its two-hundred day moving average price is $88.76. Howmet Aerospace has a fifty-two week low of $48.39 and a fifty-two week high of $115.38.

Howmet Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Stockholders 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 dividend yield of 0.28%. Howmet Aerospace’s payout ratio is 14.16%.

Insider Transactions at Howmet Aerospace

In related news, EVP Neil Edward Marchuk sold 70,637 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the completion of the sale, the executive vice president now owns 92,687 shares of the company’s stock, valued at $8,985,077.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Neil Edward Marchuk sold 70,637 shares of Howmet Aerospace 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 transaction, the executive vice president now owns 92,687 shares in the company, valued at approximately $8,985,077.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Ken Giacobbe sold 154,909 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. This 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 currently owned by insiders.

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.