Huntington Ingalls Industries (NYSE:HII) Issues Earnings Results, Misses Estimates By $1.28 EPS

Huntington Ingalls Industries (NYSE:HII) posted its quarterly earnings results on Thursday. The aerospace company reported $2.56 EPS for the quarter, missing the consensus estimate of $3.84 by ($1.28), Briefing.com reports. The company had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.87 billion. Huntington Ingalls Industries had a return on equity of 18.55% and a net margin of 6.35%. The firm’s revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.70 EPS. Huntington Ingalls Industries updated its FY 2024 guidance to EPS.

Huntington Ingalls Industries Stock Up 2.3 %

HII stock traded up $4.27 during trading on Friday, hitting $189.23. 1,492,688 shares of the company’s stock were exchanged, compared to its average volume of 322,322. The business has a 50-day moving average price of $260.62 and a two-hundred day moving average price of $258.96. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $7.42 billion, a price-to-earnings ratio of 10.04, a PEG ratio of 2.19 and a beta of 0.52. Huntington Ingalls Industries has a 52-week low of $184.29 and a 52-week high of $299.50.

Huntington Ingalls Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $1.35 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.85%. This is an increase from Huntington Ingalls Industries’s previous quarterly dividend of $1.30. Huntington Ingalls Industries’s dividend payout ratio is presently 27.59%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HII. TD Cowen cut Huntington Ingalls Industries from a “buy” rating to a “hold” rating and set a $180.00 price objective on the stock. in a report on Friday. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Huntington Ingalls Industries from $273.00 to $191.00 and set a “hold” rating on the stock in a research report on Friday. StockNews.com cut shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a report on Friday. Vertical Research cut shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating and set a $275.00 price target for the company. in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. lowered Huntington Ingalls Industries from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $280.00 to $285.00 in a research report on Monday, September 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $241.88.

Huntington Ingalls Industries Company Profile

Huntington Ingalls Industries, Inc designs, builds, overhauls, and repairs military ships in the United States. It operates through three segments: Ingalls, Newport News, and Mission Technologies. The company is involved in the design and construction of non-nuclear ships comprising amphibious assault ships; expeditionary warfare ships; surface combatants; and national security cutters for the U.S.