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.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. BTIG Research upped their target price on shares of Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a report on Monday, August 5th. Truist Financial lifted their price target on Howmet Aerospace from $105.00 to $123.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Robert W. Baird upped their price objective on Howmet Aerospace from $84.00 to $113.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Finally, Barclays boosted their target price on Howmet Aerospace from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $101.50.

Howmet Aerospace Stock Up 2.3 %

NYSE HWM opened at $102.16 on Wednesday. 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 company has a market cap of $41.70 billion, a price-to-earnings ratio of 45.20, a PEG ratio of 1.45 and a beta of 1.46. The company has a 50 day moving average of $99.39 and a 200-day moving average of $88.58. Howmet Aerospace has a 1-year low of $47.88 and a 1-year high of $106.93.

Howmet Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend is Friday, November 8th. Howmet Aerospace’s payout ratio is currently 14.16%.

Insider Buying and Selling

In related news, EVP Neil Edward Marchuk sold 70,637 shares of Howmet Aerospace stock in a transaction that occurred on Friday, August 23rd. The shares were 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 directly owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of Howmet Aerospace stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 155,135 shares in the company, valued at approximately $14,982,938.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Neil Edward Marchuk sold 70,637 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the transaction, the executive vice president now owns 92,687 shares in the company, valued at $8,985,077.78. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.12% of the stock is owned by corporate insiders.

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.