Howmet Aerospace (NYSE:HWM) Releases Q2 Earnings Guidance

Howmet Aerospace (NYSE:HWM) issued an update on its second quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.57-0.59 for the period, compared to the consensus EPS 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.

Wall Street Analysts Forecast Growth

HWM has been the subject of a number of analyst reports. The Goldman Sachs Group raised their price target on Howmet Aerospace from $77.00 to $87.00 and gave the company a buy rating in a research note on Friday. Robert W. Baird upped their target price on shares of Howmet Aerospace from $74.00 to $84.00 and gave the company an outperform rating in a report on Friday. Barclays upped their price objective on Howmet Aerospace from $60.00 to $65.00 and gave the company an overweight rating in a research note on Tuesday, February 20th. Benchmark reiterated a buy rating and set a $53.00 target price on shares of Howmet Aerospace in a research note on Friday, April 19th. Finally, JPMorgan Chase & Co. increased their price target on Howmet Aerospace from $55.00 to $60.00 and gave the company an overweight rating in a research note on Wednesday, February 14th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Howmet Aerospace currently has an average rating of Moderate Buy and an average price target of $69.77.

Howmet Aerospace Trading Up 2.3 %

Shares of HWM stock traded up $1.79 during mid-day trading on Friday, reaching $78.89. 6,147,936 shares of the stock traded hands, compared to its average volume of 3,546,927. The stock’s fifty day simple moving average is $66.70 and its two-hundred day simple moving average is $57.97. The company has a market cap of $32.22 billion, a price-to-earnings ratio of 38.11, a price-to-earnings-growth ratio of 1.91 and a beta of 1.41. Howmet Aerospace has a 1-year low of $42.17 and a 1-year high of $79.47. The company has a quick ratio of 0.87, a current ratio of 1.97 and a debt-to-equity ratio of 0.86.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.05. Howmet Aerospace had a return on equity of 21.33% and a net margin of 12.53%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period last year, the company earned $0.42 earnings per share. The firm’s revenue was up 13.8% compared to the same quarter last year. On average, research analysts anticipate that Howmet Aerospace will post 2.37 EPS for the current fiscal year.

Howmet Aerospace Announces Dividend

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

Insider Buying and Selling

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 45,000 shares of the firm’s stock in a transaction that occurred 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 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.12% of the stock is owned by 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.