Howmet Aerospace (NYSE:HWM) Releases Earnings Results, Beats Estimates By $0.05 EPS

Howmet Aerospace (NYSE:HWM) issued its quarterly earnings results on Thursday. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.05, Yahoo Finance reports. Howmet Aerospace had a return on equity of 21.33% and a net margin of 12.53%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period in the previous year, the company earned $0.42 earnings per share. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. Howmet Aerospace updated its Q2 guidance to $0.57-0.59 EPS and its FY24 guidance to $2.31-2.39 EPS.

Howmet Aerospace Price Performance

Shares of HWM stock traded up $1.79 during trading hours on Friday, hitting $78.89. 6,147,936 shares of the company’s stock were exchanged, compared to its average volume of 3,546,927. The stock’s 50-day moving average is $66.70 and its 200-day moving average is $57.97. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.97 and a quick ratio of 0.87. The stock has a market cap of $32.22 billion, a price-to-earnings ratio of 38.11, a price-to-earnings-growth ratio of 1.86 and a beta of 1.41. Howmet Aerospace has a 52 week low of $42.17 and a 52 week high of $79.47.

Howmet Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.25%. The ex-dividend date is Thursday, May 9th. Howmet Aerospace’s payout ratio is presently 9.66%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on HWM shares. Robert W. Baird upped their price target on Howmet Aerospace from $74.00 to $84.00 and gave the stock an “outperform” rating in a report on Friday. Benchmark restated a “buy” rating and issued a $53.00 target price on shares of Howmet Aerospace in a research note on Friday, April 19th. JPMorgan Chase & Co. upped their target price on Howmet Aerospace from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Sanford C. Bernstein began coverage on Howmet Aerospace in a research note on Friday, January 5th. They issued an “outperform” rating and a $67.00 target price for the company. Finally, The Goldman Sachs Group upped their target price on Howmet Aerospace from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Friday. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.77.

Insider Transactions at Howmet Aerospace

In other news, EVP Neil Edward Marchuk sold 45,000 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $67.44, for a total transaction of $3,034,800.00. Following the sale, the executive vice president now owns 229,568 shares in the company, valued at $15,482,065.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company 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.