Howmet Aerospace (NYSE:HWM) Issues Q4 Earnings Guidance

Howmet Aerospace (NYSE:HWM) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.70 to $0.72 for the period, compared to the consensus estimate of $0.69. The company issued revenue guidance of $1.85 billion to $1.89 billion, compared to the consensus revenue estimate of $1.89 billion. Howmet Aerospace also updated its FY 2024 guidance to 2.650-2.670 EPS.

Howmet Aerospace Price Performance

NYSE HWM traded up $2.43 during trading hours on Friday, hitting $113.65. 2,000,771 shares of the company’s stock traded hands, 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 firm’s 50-day moving average is $100.04 and its 200-day moving average is $88.92. Howmet Aerospace has a 52-week low of $48.39 and a 52-week high of $115.38. The company 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 Announces Dividend

The business 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 dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend is Friday, November 8th. Howmet Aerospace’s dividend payout ratio (DPR) is presently 14.16%.

Analysts Set New Price Targets

Several brokerages recently weighed in on HWM. Sanford C. Bernstein upped their target price on shares of Howmet Aerospace from $113.00 to $127.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. upped their price target on Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft boosted their price objective on Howmet Aerospace from $106.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. BTIG Research raised their target price 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. Finally, UBS Group increased their price objective on shares of Howmet Aerospace from $103.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday. One investment 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’s stock. According to data from MarketBeat.com, Howmet Aerospace currently has an average rating of “Moderate Buy” and a consensus price target of $109.75.

Insider Activity at Howmet Aerospace

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of the firm’s stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, 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 value 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 $14,982,938.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Neil Edward Marchuk sold 70,637 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Corporate 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.