Howmet Aerospace (NYSE:HWM) Updates FY24 Earnings Guidance

by · The Markets Daily

Howmet Aerospace (NYSE:HWM – Get Free Report) updated its FY24 earnings guidance on Wednesday. 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 Up 2.3 %

Shares of NYSE:HWM opened at $113.67 on Friday. The stock 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 business’s 50 day moving average is $100.04 and its 200 day moving average is $88.92. Howmet Aerospace has a 12-month low of $48.39 and a 12-month high of $115.38. The company has a quick ratio of 0.74, a current ratio of 1.53 and a debt-to-equity ratio of 0.68.

Howmet Aerospace Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Benchmark upped their price target on Howmet Aerospace from $53.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, July 12th. KeyCorp downgraded Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Sanford C. Bernstein increased their price objective on Howmet Aerospace from $113.00 to $127.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Barclays upped their price target on Howmet Aerospace from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Howmet Aerospace from $106.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $109.75.

Read Our Latest Report on Howmet Aerospace

Insider Buying and Selling

In related news, CFO Ken Giacobbe sold 154,909 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now owns 155,135 shares in the company, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the stock in a transaction on 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 owns 155,135 shares in the company, valued at approximately $14,982,938.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Neil Edward Marchuk sold 70,637 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the sale, the executive vice president now 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 disclosure for this sale can be found here. 1.12% of the stock is currently owned by insiders.

Howmet Aerospace Company Profile

(Get Free Report)

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.

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