HOWMET AEROSPACE INC. $34 is a hold. The company (New York symbol HWM; Manufacturing & Industry sector; Shares outstanding: 417.9 million; Market cap: $14.2 billion; Price-to-sales ratio: 2.9; Dividend yield: 0.2%; TSINetwork Rating: Average; www.howmet.com) makes a variety of industrial parts, from jet engine components and fasteners to forged aluminum wheels.
The company continues to benefit from rising demand as the easing of COVID-19 restrictions spur air travel volumes. That offset slower demand from military clients. In the quarter ended March 31, 2022, Howmet’s revenue improved 9.5%, to $1.32 billion from $1.21 billion a year earlier. Thanks to savings from a restructuring plan, earnings before unusual items jumped 40.9%, to $0.31 a share from $0.22.
Howmet will probably earn $1.39 a share for all of 2022, and the stock trades at 24.5 times that forecast. That’s a somewhat high p/e for a cyclical company facing rising costs for raw materials and labour.
Howmet Aerospace is a hold. hold…
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