Howmet Aerospace (NYSE:HWM) Updates Q4 2024 Earnings Guidance

Howmet Aerospace (NYSE:HWM) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.700-0.720 for the period, compared to the consensus earnings per share estimate of 0.690. The company issued revenue guidance of $1.9 billion-$1.9 billion, compared to the consensus revenue estimate of $1.9 billion. Howmet Aerospace also updated its FY 2024 guidance to 2.650-2.670 EPS.

Howmet Aerospace Stock Up 2.4 %

Howmet Aerospace stock traded up $2.68 during midday trading on Friday, reaching $113.90. The stock had a trading volume of 1,072,090 shares, compared to its average volume of 2,948,484. Howmet Aerospace has a 1-year low of $48.39 and a 1-year 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 firm’s fifty day simple moving average is $99.75 and its 200-day simple moving average is $88.76. The stock has a market capitalization of $46.49 billion, a P/E ratio of 49.22, a price-to-earnings-growth ratio of 1.45 and a beta of 1.46.

Howmet Aerospace Announces Dividend

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

Analyst Ratings Changes

Several research firms have recently commented on HWM. JPMorgan Chase & Co. increased their price objective on Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft increased their price target on shares of Howmet Aerospace from $106.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. KeyCorp lowered shares of Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Truist Financial raised their target price on shares of Howmet Aerospace from $123.00 to $128.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Sanford C. Bernstein boosted their price target on Howmet Aerospace from $113.00 to $127.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $109.75.

Insiders Place Their Bets

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of the business’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 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 document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Ken Giacobbe sold 154,909 shares of Howmet Aerospace stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the sale, the chief financial officer now directly owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Neil Edward Marchuk sold 70,637 shares of the company’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. 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.