Howmet Aerospace (NYSE:HWM) Issues 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

HWM has been the subject of several analyst reports. Sanford C. Bernstein boosted their price target on shares of Howmet Aerospace from $113.00 to $127.00 and gave the company an “outperform” rating in a report on Monday, October 21st. JPMorgan Chase & Co. boosted their target price on shares of Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Robert W. Baird raised their price target on shares of Howmet Aerospace from $113.00 to $144.00 and gave the company an “outperform” rating in a research note on Thursday. KeyCorp downgraded Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Finally, Benchmark increased their price target on Howmet Aerospace from $53.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $109.75.

Howmet Aerospace Price Performance

Shares of HWM traded up $2.68 during trading hours on Friday, hitting $113.90. 1,072,090 shares of the company were exchanged, compared to its average volume of 2,948,484. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.53 and a quick ratio of 0.74. The company has a market capitalization of $46.49 billion, a PE ratio of 49.22, a PEG ratio of 1.45 and a beta of 1.46. The firm has a fifty day simple moving average of $99.75 and a 200-day simple moving average of $88.76. Howmet Aerospace has a one year low of $48.39 and a one year high of $115.38.

Howmet Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date is Friday, November 8th. Howmet Aerospace’s dividend payout ratio is presently 14.16%.

Insiders Place Their Bets

In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the sale, the chief financial officer now directly owns 155,135 shares of the company’s stock, valued at $14,982,938.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Neil Edward Marchuk sold 70,637 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $96.94, for a total value of $6,847,550.78. Following the completion of the sale, the executive vice president now directly 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 Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ken Giacobbe sold 154,909 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the transaction, the chief financial officer now directly owns 155,135 shares in the company, valued at $14,982,938.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.12% of the company’s stock.

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.