Howmet Aerospace (NYSE:HWM) Updates 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 Trading Up 2.3 %

HWM traded up $2.51 on Friday, reaching $113.65. 2,000,788 shares of the company’s stock were exchanged, compared to its average volume of 2,950,627. The company’s 50 day moving average is $100.04 and its 200-day moving average is $88.92. Howmet Aerospace has a twelve month low of $48.39 and a twelve month high of $115.38. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.74 and a current ratio of 1.53. The company has a market cap of $46.39 billion, a price-to-earnings ratio of 50.21, a PEG ratio of 1.45 and a beta of 1.46.

Howmet Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.28%. The ex-dividend date is Friday, November 8th. Howmet Aerospace’s payout ratio is 14.16%.

Analyst Ratings Changes

HWM has been the topic of a number of recent research reports. Sanford C. Bernstein boosted their target price on shares of Howmet Aerospace from $113.00 to $127.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. boosted their price objective on Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Susquehanna lifted their price target on Howmet Aerospace from $120.00 to $132.00 and gave the company a “positive” rating in a report on Thursday. Barclays raised their target price on Howmet Aerospace from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Finally, Royal Bank of Canada increased their price target on Howmet Aerospace from $105.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.75.

Insiders Place Their Bets

In other news, EVP Neil Edward Marchuk sold 70,637 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the completion of the sale, the executive vice president now owns 92,687 shares in the company, valued at $8,985,077.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Ken Giacobbe sold 154,909 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total value of $14,961,111.22. Following the completion of the sale, the chief financial officer now owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Neil Edward Marchuk sold 70,637 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the transaction, the executive vice president now owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 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.