Huntington Ingalls Industries (NYSE:HII) Posts Quarterly Earnings Results

Huntington Ingalls Industries (NYSE:HII) posted its earnings results on Thursday. The aerospace company reported $2.56 EPS for the quarter, missing analysts’ consensus estimates of $3.84 by ($1.28), Briefing.com reports. The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.87 billion. Huntington Ingalls Industries had a return on equity of 18.55% and a net margin of 6.35%. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.70 EPS. Huntington Ingalls Industries updated its FY 2024 guidance to EPS.

Huntington Ingalls Industries Price Performance

Shares of HII stock traded up $4.27 during midday trading on Friday, reaching $189.23. 1,492,688 shares of the company traded hands, compared to its average volume of 322,322. The firm has a market cap of $7.42 billion, a PE ratio of 10.04, a price-to-earnings-growth ratio of 2.19 and a beta of 0.52. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.82 and a quick ratio of 0.76. The firm’s 50 day simple moving average is $260.62 and its two-hundred day simple moving average is $258.96. Huntington Ingalls Industries has a 1-year low of $184.29 and a 1-year high of $299.50.

Huntington Ingalls Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $5.40 dividend on an annualized basis and a yield of 2.85%. This is an increase 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

Several research firms have recently weighed in on HII. Deutsche Bank Aktiengesellschaft decreased their price objective on Huntington Ingalls Industries from $273.00 to $191.00 and set a “hold” rating for the company in a report on Friday. Vertical Research downgraded Huntington Ingalls Industries from a “buy” rating to a “hold” rating and set a $275.00 price objective for the company. in a research note on Thursday, October 10th. Alembic Global Advisors downgraded Huntington Ingalls Industries from an “overweight” rating to a “neutral” rating and set a $210.00 target price on the stock. in a research note on Friday. StockNews.com cut Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research note on Friday. Finally, JPMorgan Chase & Co. lowered shares of Huntington Ingalls Industries from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $280.00 to $285.00 in a research report on Monday, September 9th. One equities 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. According to MarketBeat, Huntington Ingalls Industries presently has a consensus rating of “Hold” and an average target price of $241.88.

Huntington Ingalls Industries Company Profile

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.