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

Howmet Aerospace (NYSE:HWM) released its earnings results on Thursday. The company reported $0.57 earnings per share for the quarter, beating 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 quarter in the previous year, the company posted $0.42 EPS. Howmet Aerospace’s revenue for the quarter was up 13.8% on a year-over-year basis. 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

Howmet Aerospace stock traded up $1.79 during trading on Friday, reaching $78.89. The company had a trading volume of 6,147,936 shares, compared to its average volume of 3,546,927. Howmet Aerospace has a 52 week low of $42.17 and a 52 week high of $79.47. The firm’s 50-day simple moving average is $66.70 and its 200 day simple moving average is $57.97. The firm has a market capitalization 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. The company has a current ratio of 1.97, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86.

Howmet Aerospace Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on HWM shares. Barclays boosted their target price on Howmet Aerospace from $60.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, February 20th. UBS Group upped their price target on Howmet Aerospace from $57.00 to $66.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. JPMorgan Chase & Co. upped their price target on Howmet Aerospace from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Truist Financial upped their price target on Howmet Aerospace from $74.00 to $88.00 and gave the company a “buy” rating in a research report on Friday. Finally, The Goldman Sachs Group upped their price target on Howmet Aerospace from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $69.77.

Insider Buying and Selling

In other Howmet Aerospace 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 value of $3,034,800.00. Following the completion of the sale, 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 Securities & Exchange Commission, which is available at this link. 1.12% of the stock is owned by insiders.

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.