Huntington Ingalls Industries (NYSE:HII) Posts Earnings Results, Misses Expectations By $1.28 EPS

Huntington Ingalls Industries (NYSE:HII) posted its quarterly earnings data on Thursday. The aerospace company reported $2.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.84 by ($1.28), Briefing.com reports. The business had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.87 billion. Huntington Ingalls Industries had a net margin of 5.99% and a return on equity of 16.89%. Huntington Ingalls Industries’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $3.70 EPS. Huntington Ingalls Industries updated its FY 2024 guidance to EPS.

Huntington Ingalls Industries Stock Up 2.3 %

HII opened at $189.23 on Friday. Huntington Ingalls Industries has a 12 month low of $184.29 and a 12 month high of $299.50. The company has a current ratio of 0.79, a quick ratio of 0.76 and a debt-to-equity ratio of 0.41. The business’s 50-day moving average price is $260.62 and its 200-day moving average price is $258.96. The company has a market cap of $7.42 billion, a P/E ratio of 10.68, a P/E/G ratio of 1.62 and a beta of 0.56.

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 given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.85%. This is a positive change from Huntington Ingalls Industries’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, November 29th. Huntington Ingalls Industries’s dividend payout ratio is presently 29.36%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HII. The Goldman Sachs Group dropped their price target on Huntington Ingalls Industries from $226.00 to $194.00 and set a “sell” rating for the company in a research report on Friday. Wolfe Research lowered shares of Huntington Ingalls Industries from an “outperform” rating to a “peer perform” rating in a research report on Thursday, October 10th. StockNews.com lowered shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a report on Friday. TD Cowen downgraded shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating and set a $180.00 price objective for the company. in a report on Friday. Finally, JPMorgan Chase & Co. cut Huntington Ingalls Industries from an “overweight” rating to a “neutral” rating and increased their target price for the company from $280.00 to $285.00 in a research note on Monday, September 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Huntington Ingalls Industries currently has a consensus rating of “Hold” and a consensus price target of $241.88.

About Huntington Ingalls Industries

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.