Zacks: Brokerage Firms Expect Howmet Aerospace Inc. (NYSE: HWM) to Report Earnings of $ 0.29 per Share
Equity research analysts expect Howmet Aerospace Inc. (NYSE: HWM) to report earnings of $ 0.29 per share for the current quarter, Zacks investment research reports. Two analysts have estimated Howmet Aerospace’s earnings, with estimates ranging from $ 0.28 to $ 0.30. Howmet Aerospace posted earnings of $ 0.21 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 38.1%. The company is expected to release its next quarterly earnings report on Wednesday, February 2.
On average, analysts predict Howmet Aerospace will report annual earnings of $ 1.00 per share for the current fiscal year, with EPS estimates ranging from $ 0.99 to $ 1.02. For the next fiscal year, analysts predict the company will post earnings of $ 1.35 per share, with EPS estimates ranging from $ 1.20 to $ 1.47. Zacks EPS Averages is an average based on a survey of seller-side research analysts who follow Howmet Aerospace.
Howmet Aerospace (NYSE: HWM) last reported its quarterly results on Thursday, November 4. The company reported earnings per share of $ 0.27 for the quarter, beating the consensus estimate of $ 0.25 by $ 0.02. The company posted revenue of $ 1.28 billion in the quarter, compared to analysts’ estimates of $ 1.30 billion. Howmet Aerospace recorded a return on equity of 11.38% and a net margin of 5.83%. Howmet Aerospace’s revenue increased 13.1% compared to the same quarter last year. During the same period of the previous year, the company achieved earnings per share of $ 0.03.
Several equity research analysts have published reports on the company. Morgan Stanley resumed coverage of Howmet Aerospace in a research report on Friday, December 3. They set an “overweight” rating and a target price of $ 40.00 for the stock. Wolfe Research resumed coverage of Howmet Aerospace in a research report on Tuesday, November 16. They set an “outperform” rating and a target price of $ 38.00 for the stock. KeyCorp lowered its price target for Howmet Aerospace from $ 36.00 to $ 35 and set an “overweight” rating on the stock in a research report released Tuesday. Finally, the UBS Group launched coverage on Howmet Aerospace in a research report on Monday, September 27. They issued a “buy” note and a target price of $ 40.00 on the stock. Nine analysts rated the stock with a buy rating. According to MarketBeat.com, Howmet Aerospace currently has a consensus rating of “Buy” and a consensus price target of $ 36.67.
In other Howmet Aerospace news, Vice President Barbara Lou Shultz sold 2,038 shares of the company in a transaction dated Thursday, November 11. The stock was sold for an average price of $ 32.30, for a total trade of $ 65,827.40. The transaction was disclosed in a file with the SEC, which can be accessed through this hyperlink. Company insiders own 0.52% of the company’s shares.
Several large investors have recently changed their positions in HWM. Advisor Group Holdings Inc. increased its stake in Howmet Aerospace shares by 8.1% during the second quarter. Advisor Group Holdings Inc. now owns 27,179 shares of the company valued at $ 938,000 after purchasing an additional 2,029 shares in the last quarter. Brinker Capital Investments LLC purchased a new position in Howmet Aerospace shares during the second quarter valued at approximately $ 322,000. Illinois Municipal Retirement Fund purchased a new position in shares of Howmet Aerospace during the second quarter valued at approximately $ 312,000. Sentry Investment Management LLC purchased a new position in Howmet Aerospace shares during the second quarter valued at approximately $ 134,000. Finally, US Bancorp DE increased its stake in the shares of Howmet Aerospace by 16.0% during the second quarter. US Bancorp DE now owns 22,444 shares of the company valued at $ 773,000 after purchasing an additional 3,088 shares in the last quarter. 89.92% of the shares are currently held by hedge funds and other institutional investors.
NYSE: HWM shares traded up $ 0.83 during trading on Friday, reaching $ 31.13.13. 2,557,603 shares of the company were traded, for an average volume of 3,048,111. The company has a market capitalization of $ 13.30 billion, a PE ratio of 47.89 and a beta of 1.83. The stock has a 50-day moving average of $ 30.55 and a 200-day moving average of $ 31.87. Howmet Aerospace has a 52 week low of $ 22.91 and a 52 week high of $ 36.03. The company has a debt to equity ratio of 1.21, a current ratio of 2.33 and a rapid ratio of 1.16.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 25. Shareholders of record on Friday, November 5 received a dividend of $ 0.02 per share. The ex-dividend date was Thursday, November 4. This represents a dividend of $ 0.08 on an annualized basis and a return of 0.26%. Howmet Aerospace’s payout ratio is 12.31%.
Howmet Aerospace Company Profile
Howmet Aerospace, Inc is committed to providing technical solutions for the aerospace and transportation industries. It operates in the following segments: engine products, fastening systems, engineering structures and forged wheels. The Engine Products segment produces precision castings, including airfoils and seamless rolled rings, primarily for aircraft engines (commercial and defense aerospace) and industrial gas turbines.
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