Howmet Aerospace (NYSE:HWM) Updates Q2 Earnings Guidance

Howmet Aerospace (NYSE:HWM) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.57-0.59 for the period, compared to the consensus earnings per share estimate of $0.54. The company issued revenue guidance of $1.825-1.845 billion, compared to the consensus revenue estimate of $1.77 billion. Howmet Aerospace also updated its FY24 guidance to $2.31-2.39 EPS.

Howmet Aerospace Stock Performance

NYSE:HWM opened at $66.73 on Thursday. Howmet Aerospace has a 12-month low of $42.17 and a 12-month high of $69.55. The company has a quick ratio of 0.87, a current ratio of 1.86 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $27.25 billion, a PE ratio of 36.46, a price-to-earnings-growth ratio of 1.74 and a beta of 1.41. The firm has a 50-day moving average price of $66.20 and a 200 day moving average price of $57.60.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.06. Howmet Aerospace had a net margin of 11.52% and a return on equity of 20.12%. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the business posted $0.38 earnings per share. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. Research analysts anticipate that Howmet Aerospace will post 2.18 earnings per share for the current fiscal year.

Howmet Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Friday, May 10th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.30%. The ex-dividend date is Thursday, May 9th. Howmet Aerospace’s dividend payout ratio (DPR) is presently 10.93%.

Analyst Upgrades and Downgrades

HWM has been the topic of several research analyst reports. Sanford C. Bernstein initiated coverage on shares of Howmet Aerospace in a research note on Friday, January 5th. They set an outperform rating and a $67.00 price objective on the stock. UBS Group upped their price objective on shares of Howmet Aerospace from $57.00 to $66.00 and gave the stock a neutral rating in a research note on Thursday, February 15th. The Goldman Sachs Group upped their price objective on shares of Howmet Aerospace from $65.00 to $77.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. Benchmark reaffirmed a buy rating and set a $53.00 price objective on shares of Howmet Aerospace in a research note on Friday, April 19th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Howmet Aerospace from $55.00 to $60.00 and gave the stock an overweight rating in a research note on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $66.00.

Insider Buying and Selling at Howmet Aerospace

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 45,000 shares of the firm’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 transaction, the executive vice president now directly 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 SEC, which is available through this hyperlink. 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.