Howmet Aerospace (NYSE:HWM) Updates Q4 Earnings Guidance

Howmet Aerospace (NYSE:HWM) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.70 to $0.72 for the period, compared to the consensus estimate of $0.69. The company issued revenue guidance of $1.85 billion to $1.89 billion, compared to the consensus revenue estimate of $1.89 billion. Howmet Aerospace also updated its FY 2024 guidance to 2.650-2.670 EPS.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on HWM shares. Barclays increased their price objective on Howmet Aerospace from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Sanford C. Bernstein increased their target price on shares of Howmet Aerospace from $113.00 to $127.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Susquehanna boosted their price objective on shares of Howmet Aerospace from $120.00 to $132.00 and gave the stock a “positive” rating in a research note on Thursday. BTIG Research lifted their price target on Howmet Aerospace from $95.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, KeyCorp downgraded shares of Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $109.75.

Howmet Aerospace Stock Performance

Shares of NYSE:HWM traded up $2.43 during midday trading on Friday, reaching $113.65. The company had a trading volume of 2,000,771 shares, compared to its average volume of 2,952,764. Howmet Aerospace has a 52-week low of $48.39 and a 52-week high of $115.38. The company’s 50 day moving average price is $100.04 and its 200 day moving average price is $88.92. The company has a current ratio of 1.53, a quick ratio of 0.74 and a debt-to-equity ratio of 0.68. The stock has a market cap of $46.39 billion, a P/E ratio of 50.21, a P/E/G ratio of 1.45 and a beta of 1.46.

Howmet Aerospace Announces Dividend

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

Insider Activity

In related news, EVP Neil Edward Marchuk sold 70,637 shares of the firm’s 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 transaction, the executive vice president now directly owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Neil Edward Marchuk sold 70,637 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Ken Giacobbe sold 154,909 shares of Howmet Aerospace stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total value 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.12% of the company’s stock.

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.