In a remarkable display of market confidence, Howmet Aerospace Inc. (HWM (BMV:HWM)) stock has reached an all-time high, touching a price level of $119.35. According to InvestingPro data, the company boasts a perfect Piotroski Score of 9, indicating exceptional financial strength, while its market capitalization has grown to $48.1 billion. This significant milestone underscores the company's robust performance and investor optimism in its growth potential. Over the past year, Howmet Aerospace has seen an impressive 123.78% change, reflecting a strong upward trajectory in its stock value. The aerospace and defense sector has been closely watched by investors, and Howmet's recent peak in share price is a testament to the company's strategic initiatives and its ability to capitalize on industry trends. While current analysis suggests the stock may be trading above its Fair Value, 14 analysts have revised their earnings upwards for the upcoming period. Discover more insights and 18 additional ProTips for HWM with a subscription to InvestingPro, including access to comprehensive Pro Research Reports covering 1,400+ top stocks.
In other recent news, Howmet Aerospace has been the subject of favorable analyst updates. BofA Securities raised its price target for Howmet Aerospace from $100 to $135, maintaining a Buy rating, based on strong performance in the Industrial Gas Turbines (IGT) sector, with potential growth driven by artificial intelligence and data center power needs. Meanwhile, Baird increased its price target for the company to $144, holding an Outperform rating, following strong financial performance, particularly in the Commercial Aerospace sector.
Howmet Aerospace reported robust third-quarter earnings, surpassing analyst expectations. The company disclosed adjusted earnings of $0.71 per share, exceeding the consensus estimate of $0.65, and revenue rose 11% year-over-year to $1.84 billion. A significant contribution to this growth came from Howmet's commercial aerospace segment, which saw a 17% revenue increase compared to the same period last year.
The company's CEO, John Plant, indicated that adjusted EBITDA grew faster than revenue, increasing 27% year-over-year to $487 million. As a result, Howmet adjusted its full-year earnings guidance to a range of $2.65 to $2.67 per share, exceeding the previous forecast and the $2.59 consensus. The company also adjusted its annual revenue expectations to fall between $7.39 billion and $7.43 billion. Plant also expressed optimism about 2025, citing robust demand in commercial aerospace, leading the company to anticipate approximately 7.5% year-over-year revenue growth.
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