Howmet Aerospace (NYSE:HWM) Issues Earnings Results

Howmet Aerospace (NYSE:HWM) announced its earnings results on Thursday. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.05, Yahoo Finance reports. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Howmet Aerospace had a return on equity of 21.33% and a net margin of 12.53%. The company’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the business posted $0.42 earnings per share. Howmet Aerospace updated its Q2 guidance to $0.57-0.59 EPS and its FY24 guidance to $2.31-2.39 EPS.

Howmet Aerospace Stock Up 2.3 %

HWM opened at $78.89 on Friday. Howmet Aerospace has a twelve month low of $42.17 and a twelve month high of $79.47. The firm’s 50-day simple moving average is $66.70 and its 200-day simple moving average is $57.97. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 1.97. The firm has a market cap of $32.22 billion, a price-to-earnings ratio of 38.11, a PEG ratio of 1.91 and a beta of 1.41.

Howmet Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Friday, May 10th will be paid a $0.05 dividend. The ex-dividend date is Thursday, May 9th. This represents a $0.20 annualized dividend and a dividend yield of 0.25%. Howmet Aerospace’s dividend payout ratio is currently 9.66%.

Insider Buying and Selling at Howmet Aerospace

In related news, EVP Neil Edward Marchuk sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $67.44, for a total value of $3,034,800.00. Following the completion of the sale, the executive vice president now owns 229,568 shares of the company’s stock, valued at $15,482,065.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Barclays upped their price target on Howmet Aerospace from $60.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, February 20th. The Goldman Sachs Group boosted their price objective on shares of Howmet Aerospace from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Friday. KeyCorp increased their target price on shares of Howmet Aerospace from $60.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 21st. Royal Bank of Canada boosted their price target on shares of Howmet Aerospace from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Friday. Finally, Robert W. Baird lifted their price objective on Howmet Aerospace from $74.00 to $84.00 and gave the company an “outperform” rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Howmet Aerospace currently has a consensus rating of “Moderate Buy” and an average target price of $69.77.

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.