Howmet Aerospace (NYSE:HWM) Updates Q4 2024 Earnings Guidance

Howmet Aerospace (NYSE:HWM) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.700-0.720 for the period, compared to the consensus earnings per share estimate of 0.690. The company issued revenue guidance of $1.9 billion-$1.9 billion, compared to the consensus revenue estimate of $1.9 billion. Howmet Aerospace also updated its FY 2024 guidance to 2.650-2.670 EPS.

Howmet Aerospace Stock Up 2.4 %

Howmet Aerospace stock traded up $2.68 during midday trading on Friday, hitting $113.90. 1,223,552 shares of the stock were exchanged, compared to its average volume of 2,949,182. The stock has a market capitalization of $46.49 billion, a price-to-earnings ratio of 49.22, a price-to-earnings-growth 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. The business’s 50-day moving average price is $99.75 and its 200-day moving average price is $88.76. Howmet Aerospace has a 52-week low of $48.39 and a 52-week high of $115.38.

Howmet Aerospace Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Royal Bank of Canada increased their price objective on Howmet Aerospace from $105.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday. UBS Group increased their price target on Howmet Aerospace from $103.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft boosted their price objective on Howmet Aerospace from $106.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. KeyCorp lowered shares of Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Finally, Susquehanna boosted their price target on shares of Howmet Aerospace from $120.00 to $132.00 and gave the company a “positive” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $109.75.

Insider Activity

In other news, CFO Ken Giacobbe sold 154,909 shares of the 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 transaction, the chief financial officer now owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Ken Giacobbe sold 154,909 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 155,135 shares in the company, valued at $14,982,938.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 directly owns 92,687 shares in the company, valued at $8,985,077.78. The trade was 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.

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.