Howmet Aerospace (NYSE:HWM) Releases FY 2024 Earnings Guidance

Howmet Aerospace (NYSE:HWM) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 2.650-2.670 for the period, compared to the consensus EPS estimate of 2.590. The company issued revenue guidance of $7.4 billion-$7.4 billion, compared to the consensus revenue estimate of $7.5 billion. Howmet Aerospace also updated its FY24 guidance to $2.65 to $2.66 EPS.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HWM. Barclays raised their target price on Howmet Aerospace from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. KeyCorp lowered shares of Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Howmet Aerospace from $106.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Royal Bank of Canada raised their price target on shares of Howmet Aerospace from $105.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Robert W. Baird increased their target price on Howmet Aerospace from $113.00 to $144.00 and gave the stock an “outperform” rating in a report on Thursday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Howmet Aerospace currently has a consensus rating of “Moderate Buy” and an average price target of $109.75.

Howmet Aerospace Stock Up 2.6 %

Shares of HWM traded up $2.87 during midday trading on Friday, hitting $114.01. The stock had a trading volume of 1,218,706 shares, compared to its average volume of 2,948,909. The firm has a market cap of $46.53 billion, a price-to-earnings ratio of 49.22, a price-to-earnings-growth ratio of 1.45 and a beta of 1.46. The company has a 50 day simple moving average of $99.75 and a two-hundred day simple moving average of $88.76. Howmet Aerospace has a twelve month low of $48.39 and a twelve month high of $115.38. 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 Announces Dividend

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

Insider Transactions at Howmet Aerospace

In other news, CFO Ken Giacobbe sold 154,909 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total value of $14,961,111.22. Following the sale, the chief financial officer now owns 155,135 shares of the company’s stock, valued at $14,982,938.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related 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 completion of the transaction, the executive vice president now directly owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ken Giacobbe sold 154,909 shares of the company’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 sale, the chief financial officer now directly owns 155,135 shares in the company, valued at $14,982,938.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.12% of the company’s stock.

Howmet Aerospace Company Profile

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.