Huntington Ingalls Industries (NYSE:HII) Releases Quarterly Earnings Results, Misses Expectations By $1.28 EPS

Huntington Ingalls Industries (NYSE:HII) issued its earnings results on Thursday. The aerospace company reported $2.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.84 by ($1.28), Briefing.com reports. Huntington Ingalls Industries had a return on equity of 18.55% and a net margin of 6.35%. The company had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.87 billion. During the same quarter in the previous year, the firm earned $3.70 earnings per share. The business’s revenue was down 2.4% compared to the same quarter last year. Huntington Ingalls Industries updated its FY 2024 guidance to EPS.

Huntington Ingalls Industries Stock Up 2.3 %

Shares of NYSE HII traded up $4.27 during trading hours on Friday, hitting $189.23. The stock had a trading volume of 1,492,251 shares, compared to its average volume of 322,322. The firm’s 50-day moving average price is $260.62 and its two-hundred day moving average price is $258.96. Huntington Ingalls Industries has a 52 week low of $184.29 and a 52 week high of $299.50. The company has a market capitalization of $7.42 billion, a P/E ratio of 10.04, a P/E/G ratio of 2.19 and a beta of 0.52. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.76 and a current ratio of 0.82.

Huntington Ingalls Industries Increases Dividend

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

Analysts Set New Price Targets

Several analysts have issued reports on the company. Vertical Research downgraded Huntington Ingalls Industries from a “buy” rating to a “hold” rating and set a $275.00 price objective on the stock. in a report on Thursday, October 10th. TD Cowen lowered shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating and set a $180.00 price target on the stock. in a report on Friday. The Goldman Sachs Group decreased their price objective on shares of Huntington Ingalls Industries from $226.00 to $194.00 and set a “sell” rating for the company in a research note on Friday. Deutsche Bank Aktiengesellschaft cut their target price on shares of Huntington Ingalls Industries from $273.00 to $191.00 and set a “hold” rating on the stock in a research note on Friday. Finally, StockNews.com cut Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $241.88.

About Huntington Ingalls Industries

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.