Wall Street brokerages forecast that Howmet Aerospace Inc. (NYSE:HWM – Get Rating) will announce sales of $1.36 billion for the current quarter, according to Zacks. Three analysts have provided estimates for Howmet Aerospace’s earnings. The lowest sales estimate is $1.36 billion and the highest is $1.37 billion. Howmet Aerospace reported sales of $1.20 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 13.3%. The company is scheduled to report its next quarterly earnings report on Monday, January 1st.
On average, analysts expect that Howmet Aerospace will report full year sales of $5.61 billion for the current financial year, with estimates ranging from $5.59 billion to $5.63 billion. For the next fiscal year, analysts anticipate that the company will report sales of $6.16 billion, with estimates ranging from $5.97 billion to $6.32 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Howmet Aerospace.
Howmet Aerospace (NYSE:HWM – Get Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.31 billion. Howmet Aerospace had a net margin of 6.07% and a return on equity of 13.73%. Howmet Aerospace’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.22 earnings per share.
Howmet Aerospace stock opened at $36.47 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.22 and a quick ratio of 1.04. The company has a market capitalization of $15.24 billion, a price-to-earnings ratio of 50.65 and a beta of 1.58. Howmet Aerospace has a one year low of $27.41 and a one year high of $37.66. The company’s fifty day moving average price is $35.00 and its two-hundred day moving average price is $33.63.
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 25th. Stockholders of record on Friday, May 6th were given a dividend of $0.02 per share. The ex-dividend date was Thursday, May 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.22%. Howmet Aerospace’s dividend payout ratio is 11.11%.
In related news, CFO Ken Giacobbe sold 63,304 shares of the business’s stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $36.31, for a total value of $2,298,568.24. Following the sale, the chief financial officer now directly owns 382,379 shares of the company’s stock, valued at approximately $13,884,181.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.64% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Verition Fund Management LLC boosted its holdings in shares of Howmet Aerospace by 113.6% during the 1st quarter. Verition Fund Management LLC now owns 70,636 shares of the company’s stock worth $2,539,000 after buying an additional 37,564 shares during the period. Walleye Capital LLC lifted its holdings in shares of Howmet Aerospace by 11.5% during the 1st quarter. Walleye Capital LLC now owns 30,230 shares of the company’s stock worth $1,086,000 after acquiring an additional 3,113 shares during the period. Neuberger Berman Group LLC increased its position in Howmet Aerospace by 12.9% during the 1st quarter. Neuberger Berman Group LLC now owns 23,586 shares of the company’s stock worth $847,000 after purchasing an additional 2,687 shares in the last quarter. Worldquant Millennium Advisors LLC increased its position in Howmet Aerospace by 21.5% during the 1st quarter. Worldquant Millennium Advisors LLC now owns 213,647 shares of the company’s stock worth $7,678,000 after purchasing an additional 37,827 shares in the last quarter. Finally, Weiss Multi Strategy Advisers LLC increased its position in Howmet Aerospace by 15.5% during the 1st quarter. Weiss Multi Strategy Advisers LLC now owns 166,286 shares of the company’s stock worth $5,976,000 after purchasing an additional 22,322 shares in the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.
About Howmet Aerospace (Get Rating)
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.
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