Howmet Aerospace (NYSE:HWM) Posts Earnings Results

Howmet Aerospace (NYSE:HWM) issued its earnings results on Thursday. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.52 by $0.05, Yahoo Finance reports. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.74 billion. Howmet Aerospace had a net margin of 12.53% and a return on equity of 21.33%. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.42 EPS. Howmet Aerospace updated its Q2 guidance to $0.57-0.59 EPS and its FY24 guidance to $2.31-2.39 EPS.

Howmet Aerospace Trading Up 2.3 %

NYSE:HWM traded up $1.79 during mid-day trading on Friday, hitting $78.89. The company had a trading volume of 6,147,936 shares, compared to its average volume of 3,546,927. The firm has a market cap of $32.22 billion, a P/E ratio of 38.11, a P/E/G ratio of 1.86 and a beta of 1.41. Howmet Aerospace has a fifty-two week low of $42.17 and a fifty-two week high of $79.47. The business’s fifty day moving average is $66.70 and its two-hundred day moving average is $57.97. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 1.97.

Howmet Aerospace Dividend Announcement

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

Insider Transactions at Howmet Aerospace

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 45,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were 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 can be accessed through the SEC website. Corporate insiders own 1.12% of the company’s stock.

Wall Street Analyst Weigh In

HWM has been the topic of a number of recent analyst reports. The Goldman Sachs Group boosted their price target on shares of Howmet Aerospace from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Friday. Truist Financial increased their price target on Howmet Aerospace from $74.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday. Benchmark reaffirmed a “buy” rating and issued a $53.00 price target on shares of Howmet Aerospace in a report on Friday, April 19th. Sanford C. Bernstein started coverage on shares of Howmet Aerospace in a report on Friday, January 5th. They set an “outperform” rating and a $67.00 price objective on the stock. Finally, Royal Bank of Canada boosted their target price on shares of Howmet Aerospace from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.77.

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.