Howmet Aerospace (NYSE:HWM) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Howmet Aerospace (NYSE:HWM) issued its quarterly earnings data on Thursday. The company reported $0.57 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the prior year, the business posted $0.42 EPS. The business’s revenue for the quarter 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 Stock Performance

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

Howmet Aerospace Announces Dividend

The company 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 of this dividend is Thursday, May 9th. Howmet Aerospace’s dividend payout ratio (DPR) is 9.66%.

Insider Activity at Howmet Aerospace

In related news, EVP Neil Edward Marchuk sold 45,000 shares of Howmet Aerospace stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $67.44, for a total value of $3,034,800.00. Following the completion of the transaction, the executive vice president now owns 229,568 shares in the company, valued at approximately $15,482,065.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.12% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Benchmark reiterated a “buy” rating and set a $53.00 price objective on shares of Howmet Aerospace in a report on Friday, April 19th. Royal Bank of Canada increased their price objective on Howmet Aerospace from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Friday. Robert W. Baird increased their price objective on Howmet Aerospace from $74.00 to $84.00 and gave the company an “outperform” rating in a report on Friday. KeyCorp increased their price objective on Howmet Aerospace from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, February 21st. Finally, UBS Group raised their target price on Howmet Aerospace from $57.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Howmet Aerospace presently has an average rating of “Moderate Buy” and an average target price of $69.77.

Howmet Aerospace Company Profile

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.