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 Stock Up 2.3 %

Shares of NYSE HWM traded up $2.51 during trading hours on Friday, hitting $113.65. The stock had a trading volume of 2,001,124 shares, compared to its average volume of 2,952,764. The firm’s 50-day moving average price is $100.04 and its two-hundred day moving average price 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 P/E ratio of 50.21, a P/E/G ratio of 1.45 and a beta of 1.46. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.74 and a current ratio of 1.53.

Howmet Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be given 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 dividend payout ratio is 14.16%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on HWM. Susquehanna lifted their price objective on shares of Howmet Aerospace from $120.00 to $132.00 and gave the company a “positive” rating in a research note on Thursday. BTIG Research upped their price target on Howmet Aerospace from $95.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Robert W. Baird upped their target price on Howmet Aerospace from $113.00 to $144.00 and gave the stock an “outperform” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft increased their price target on Howmet Aerospace from $106.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Barclays boosted their target price on shares of Howmet Aerospace from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $109.75.

Insiders Place Their Bets

In other news, EVP Neil Edward Marchuk sold 70,637 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 92,687 shares of the company’s stock, valued at $8,985,077.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Ken Giacobbe sold 154,909 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 155,135 shares in the company, valued at approximately $14,982,938.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Neil Edward Marchuk sold 70,637 shares of the company’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 in the company, valued at approximately $8,985,077.78. This 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.