Howmet Aerospace (NYSE:HWM) Releases Q2 Earnings Guidance

Howmet Aerospace (NYSE:HWM) updated its second quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.57-0.59 for the period, compared to the consensus estimate of $0.54. The company issued revenue guidance of $1.825-1.845 billion, compared to the consensus revenue estimate of $1.77 billion. Howmet Aerospace also updated its FY24 guidance to $2.31-2.39 EPS.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on HWM shares. UBS Group increased their price objective on shares of Howmet Aerospace from $57.00 to $66.00 and gave the stock a neutral rating in a research note on Thursday, February 15th. Benchmark reissued a buy rating and set a $53.00 price target on shares of Howmet Aerospace in a report on Friday, April 19th. Barclays upped their price objective on Howmet Aerospace from $60.00 to $65.00 and gave the stock an overweight rating in a research note on Tuesday, February 20th. JPMorgan Chase & Co. lifted their target price on Howmet Aerospace from $55.00 to $60.00 and gave the company an overweight rating in a research note on Wednesday, February 14th. Finally, Royal Bank of Canada boosted their price target on Howmet Aerospace from $75.00 to $90.00 and gave the stock an outperform rating in a report on Friday. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $69.77.

Howmet Aerospace Stock Up 2.3 %

Shares of HWM traded up $1.79 during trading hours on Friday, hitting $78.89. The company had a trading volume of 6,147,936 shares, compared to its average volume of 3,546,927. Howmet Aerospace has a one year low of $42.17 and a one year high of $79.47. The company’s fifty day moving average price is $66.70 and its two-hundred day moving average price is $57.97. The company has a market capitalization of $32.22 billion, a PE ratio of 38.11, a price-to-earnings-growth ratio of 1.91 and a beta of 1.41. The company has a current ratio of 1.97, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.52 by $0.05. Howmet Aerospace had a net margin of 12.53% and a return on equity of 21.33%. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the previous year, the business posted $0.42 EPS. Howmet Aerospace’s revenue was up 13.8% on a year-over-year basis. As a group, equities analysts forecast that Howmet Aerospace will post 2.37 earnings per share for the current fiscal year.

Howmet Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Friday, May 10th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.25%. The ex-dividend date of this dividend is Thursday, May 9th. Howmet Aerospace’s 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 on Monday, March 4th. The stock was sold at an average price of $67.44, for a total value of $3,034,800.00. Following the completion of the transaction, the executive vice president now owns 229,568 shares in the company, valued at approximately $15,482,065.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.12% of the stock is currently owned by company 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.