Huntington Ingalls Industries (NYSE:HII) Hits New 12-Month Low After Earnings Miss

Shares of Huntington Ingalls Industries, Inc. (NYSE:HIIGet Free Report) reached a new 52-week low during mid-day trading on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $212.55 and last traded at $212.55, with a volume of 9654 shares. The stock had previously closed at $250.49.

The aerospace company reported $2.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.84 by ($1.28). Huntington Ingalls Industries had a return on equity of 18.55% and a net margin of 6.35%. The company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter in the prior year, the business earned $3.70 earnings per share. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis.

Huntington Ingalls Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $1.35 dividend. This is an increase from Huntington Ingalls Industries’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Friday, November 29th. Huntington Ingalls Industries’s dividend payout ratio is 27.59%.

Analyst Ratings Changes

HII has been the topic of several research reports. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Huntington Ingalls Industries from $273.00 to $191.00 and set a “hold” rating for the company in a report on Friday. The Goldman Sachs Group decreased their price objective on Huntington Ingalls Industries from $226.00 to $194.00 and set a “sell” rating for the company in a report on Friday. Vertical Research lowered Huntington Ingalls Industries from a “buy” rating to a “hold” rating and set a $275.00 target price on the stock. in a report on Thursday, October 10th. JPMorgan Chase & Co. cut Huntington Ingalls Industries from an “overweight” rating to a “neutral” rating and increased their price target for the company from $280.00 to $285.00 in a research report on Monday, September 9th. Finally, StockNews.com lowered Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Huntington Ingalls Industries has a consensus rating of “Hold” and an average price target of $241.88.

Check Out Our Latest Research Report on Huntington Ingalls Industries

Hedge Funds Weigh In On Huntington Ingalls Industries

A number of large investors have recently made changes to their positions in the company. Rosenberg Matthew Hamilton grew its stake in shares of Huntington Ingalls Industries by 8.2% in the third quarter. Rosenberg Matthew Hamilton now owns 525 shares of the aerospace company’s stock valued at $139,000 after acquiring an additional 40 shares in the last quarter. Oliver Lagore Vanvalin Investment Group increased its holdings in shares of Huntington Ingalls Industries by 9.1% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 492 shares of the aerospace company’s stock worth $121,000 after purchasing an additional 41 shares during the period. Ballentine Partners LLC raised its position in shares of Huntington Ingalls Industries by 1.6% in the second quarter. Ballentine Partners LLC now owns 2,625 shares of the aerospace company’s stock valued at $647,000 after buying an additional 42 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Huntington Ingalls Industries by 16.4% in the second quarter. GAMMA Investing LLC now owns 320 shares of the aerospace company’s stock valued at $79,000 after buying an additional 45 shares during the period. Finally, Hilltop National Bank grew its position in Huntington Ingalls Industries by 15.1% during the second quarter. Hilltop National Bank now owns 359 shares of the aerospace company’s stock worth $88,000 after buying an additional 47 shares in the last quarter. Institutional investors own 90.46% of the company’s stock.

Huntington Ingalls Industries Stock Performance

The stock’s fifty day moving average price is $260.62 and its two-hundred day moving average price is $258.96. The company has a market cap of $7.42 billion, a P/E ratio of 10.04, a P/E/G ratio of 2.19 and a beta of 0.52. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.76 and a current ratio of 0.82.

About Huntington Ingalls Industries

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Huntington Ingalls Industries, Inc designs, builds, overhauls, and repairs military ships in the United States. It operates through three segments: Ingalls, Newport News, and Mission Technologies. The company is involved in the design and construction of non-nuclear ships comprising amphibious assault ships; expeditionary warfare ships; surface combatants; and national security cutters for the U.S.

Further Reading

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