Howmet Aerospace (NYSE:HWM) Updates FY24 Earnings Guidance

Howmet Aerospace (NYSE:HWM) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $2.65 to $2.66 for the period, compared to the consensus earnings per share 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 Price Performance

Shares of NYSE HWM traded up $2.51 during trading on Friday, hitting $113.65. 2,000,788 shares of the company were exchanged, compared to its average volume of 2,950,627. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.53 and a quick ratio of 0.74. Howmet Aerospace has a 1 year low of $48.39 and a 1 year high of $115.38. The company has a market cap of $46.39 billion, a price-to-earnings ratio of 50.21, a PEG ratio of 1.45 and a beta of 1.46. The firm’s fifty day moving average price is $100.04 and its 200 day moving average price is $88.92.

Howmet Aerospace Announces Dividend

The business also recently declared 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. The ex-dividend date is Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. Howmet Aerospace’s payout ratio is 14.16%.

Analyst Ratings Changes

HWM has been the subject of several research analyst reports. Truist Financial lifted their price objective on Howmet Aerospace from $123.00 to $128.00 and gave the stock a “buy” rating in a report on Thursday. JPMorgan Chase & Co. raised their price objective on shares of Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Robert W. Baird increased their price objective on shares of Howmet Aerospace from $113.00 to $144.00 and gave the stock an “outperform” rating in a research report on Thursday. BTIG Research raised their price objective on Howmet Aerospace from $95.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Howmet Aerospace from $106.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Howmet Aerospace currently has an average rating of “Moderate Buy” and a consensus price target of $109.75.

Insiders Place Their Bets

In related news, CFO Ken Giacobbe sold 154,909 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the completion of the sale, the chief financial officer now directly owns 155,135 shares in the company, valued at approximately $14,982,938.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of Howmet Aerospace stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $96.94, for a total value of $6,847,550.78. Following the transaction, the executive vice president now directly owns 92,687 shares of the company’s stock, valued at $8,985,077.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Ken Giacobbe sold 154,909 shares of the firm’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 completion of the sale, the chief financial officer now owns 155,135 shares in the company, 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. 1.12% of the stock is owned by company insiders.

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.