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

Huntington Ingalls Industries (NYSE:HII) released its quarterly earnings results 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 firm had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.87 billion. Huntington Ingalls Industries had a net margin of 6.35% and a return on equity of 18.55%. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.70 earnings per share. Huntington Ingalls Industries updated its FY 2024 guidance to EPS.

Huntington Ingalls Industries Price Performance

NYSE:HII traded up $4.27 on Friday, hitting $189.23. The company had a trading volume of 1,492,251 shares, compared to its average volume of 322,322. Huntington Ingalls Industries has a 52 week low of $184.29 and a 52 week high of $299.50. The stock has a market capitalization of $7.42 billion, a price-to-earnings ratio of 10.04, a PEG ratio of 2.19 and a beta of 0.52. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 0.41. The firm has a 50 day moving average of $260.62 and a two-hundred day moving average of $258.96.

Huntington Ingalls Industries Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on HII shares. StockNews.com cut shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research report on Friday. The Goldman Sachs Group cut their price objective on shares of Huntington Ingalls Industries from $226.00 to $194.00 and set a “sell” rating for the company in a report on Friday. Alembic Global Advisors lowered shares of Huntington Ingalls Industries from an “overweight” rating to a “neutral” rating and set a $210.00 target price on the stock. in a research report on Friday. Wolfe Research downgraded shares of Huntington Ingalls Industries from an “outperform” rating to a “peer perform” rating in a research report on Thursday, October 10th. Finally, TD Cowen downgraded Huntington Ingalls Industries from a “buy” rating to a “hold” rating and set a $180.00 price target on the stock. in a research report on Friday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company 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.