Howmet Aerospace (NYSE:HWM) Issues FY24 Earnings Guidance

Howmet Aerospace (NYSE:HWM) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $2.65 to $2.66 for the period, compared to the consensus EPS estimate of $2.59. The company issued revenue guidance of $7.39 billion to $7.43 billion, compared to the consensus revenue estimate of $7.44 billion. Howmet Aerospace also updated its FY 2024 guidance to 2.650-2.670 EPS.

Howmet Aerospace Stock Performance

HWM traded up $2.43 on Friday, reaching $113.65. 2,000,771 shares of the stock were exchanged, compared to its average volume of 2,952,764. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.53 and a quick ratio of 0.74. The company’s 50-day moving average price is $100.04 and its 200 day moving average price is $88.92. The firm has a market capitalization of $46.39 billion, a PE ratio of 50.21, a PEG ratio of 1.45 and a beta of 1.46. Howmet Aerospace has a fifty-two week low of $48.39 and a fifty-two week high of $115.38.

Howmet Aerospace Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HWM. BTIG Research lifted their price objective 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. Benchmark increased their target price on Howmet Aerospace from $53.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Barclays upped their price objective on shares of Howmet Aerospace from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Robert W. Baird raised their price target on shares of Howmet Aerospace from $113.00 to $144.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. raised their target price on Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. One investment 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $109.75.

Insider Transactions at Howmet Aerospace

In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of Howmet Aerospace stock in a transaction dated 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 directly owns 155,135 shares of the company’s stock, valued at $14,982,938.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Neil Edward Marchuk sold 70,637 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $96.94, for a total value of $6,847,550.78. Following the sale, the executive vice president now directly owns 92,687 shares in the company, valued at approximately $8,985,077.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ken Giacobbe sold 154,909 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the transaction, the chief financial officer now owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company 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.