Howmet Aerospace (NYSE:HWM) Releases FY24 Earnings Guidance

Howmet Aerospace (NYSE:HWM) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $2.65 to $2.66 for the period, compared to the consensus estimate of $2.59. The company issued revenue guidance of $7.39 billion to $7.43 billion, compared to the consensus revenue estimate of $7.44 billion. Howmet Aerospace also updated its FY 2024 guidance to 2.650-2.670 EPS.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Robert W. Baird upped their target price on Howmet Aerospace from $84.00 to $113.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. BTIG Research boosted 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. Susquehanna assumed coverage on Howmet Aerospace in a research report on Tuesday, October 8th. They set a “positive” rating and a $120.00 price target for the company. Truist Financial boosted their price target on Howmet Aerospace from $105.00 to $123.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Sanford C. Bernstein boosted their price target on Howmet Aerospace from $113.00 to $127.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $101.50.

Howmet Aerospace Stock Up 2.3 %

Shares of NYSE:HWM opened at $102.16 on Wednesday. Howmet Aerospace has a 52-week low of $47.88 and a 52-week high of $106.93. The business has a fifty day moving average of $99.39 and a two-hundred day moving average of $88.58. The stock has a market cap of $41.70 billion, a P/E ratio of 45.20, a PEG ratio of 1.45 and a beta of 1.46. The company has a quick ratio of 0.74, a current ratio of 1.53 and a debt-to-equity ratio of 0.68.

Howmet Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.31%. The ex-dividend date is Friday, November 8th. Howmet Aerospace’s dividend payout ratio (DPR) is presently 14.16%.

Insider Activity

In other news, CFO Ken Giacobbe sold 154,909 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total value of $14,961,111.22. Following the transaction, the chief financial officer now 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the business’s stock in a transaction dated 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 in the company, valued at $14,982,938.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Neil Edward Marchuk sold 70,637 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the sale, the executive vice president now owns 92,687 shares in the company, valued at $8,985,077.78. This trade represents 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.

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.