Melius Research Issues Pessimistic Forecast for HII Earnings

Huntington Ingalls Industries, Inc. (NYSE:HII) – Melius Research dropped their Q3 2024 earnings estimates for Huntington Ingalls Industries in a report released on Wednesday, October 16th. Melius Research analyst R. Spingarn now anticipates that the aerospace company will post earnings per share of $3.69 for the quarter, down from their prior estimate of $3.72. The consensus estimate for Huntington Ingalls Industries’ current full-year earnings is $16.56 per share. Melius Research also issued estimates for Huntington Ingalls Industries’ Q4 2024 earnings at $4.48 EPS, FY2025 earnings at $19.67 EPS and FY2026 earnings at $22.10 EPS.

Huntington Ingalls Industries (NYSE:HII) last posted its quarterly earnings results on Thursday, August 1st. The aerospace company reported $4.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. The business had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Huntington Ingalls Industries had a net margin of 6.35% and a return on equity of 18.55%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the company posted $3.27 earnings per share.

A number of other research analysts have also recently issued reports on HII. Wolfe Research cut shares of Huntington Ingalls Industries from an “outperform” rating to a “peer perform” rating in a report on Thursday, October 10th. Vertical Research lowered shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating and set a $275.00 price objective on the stock. in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. lowered shares of Huntington Ingalls Industries from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $280.00 to $285.00 in a research note on Monday, September 9th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Huntington Ingalls Industries presently has an average rating of “Hold” and an average price target of $290.00.

Huntington Ingalls Industries Trading Down 0.1 %

NYSE HII opened at $261.53 on Monday. The company has a fifty day simple moving average of $266.23 and a two-hundred day simple moving average of $261.51. The stock has a market cap of $10.31 billion, a P/E ratio of 14.74, a P/E/G ratio of 2.25 and a beta of 0.52. Huntington Ingalls Industries has a 12-month low of $212.58 and a 12-month high of $299.50. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 0.41.

Institutional Trading of Huntington Ingalls Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC grew its position in Huntington Ingalls Industries by 142.8% during the third quarter. CWM LLC now owns 5,251 shares of the aerospace company’s stock valued at $1,388,000 after buying an additional 3,088 shares during the period. SteelPeak Wealth LLC acquired a new stake in shares of Huntington Ingalls Industries in the second quarter valued at about $1,769,000. SG Americas Securities LLC grew its position in shares of Huntington Ingalls Industries by 950.1% in the first quarter. SG Americas Securities LLC now owns 38,454 shares of the aerospace company’s stock valued at $11,208,000 after purchasing an additional 34,792 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Huntington Ingalls Industries by 30.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 49,805 shares of the aerospace company’s stock valued at $14,517,000 after purchasing an additional 11,647 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of Huntington Ingalls Industries in the first quarter valued at about $1,821,000. Institutional investors and hedge funds own 90.46% of the company’s stock.

Huntington Ingalls Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $1.30 per share. The ex-dividend date was Friday, August 30th. This represents a $5.20 annualized dividend and a yield of 1.99%. Huntington Ingalls Industries’s dividend payout ratio is presently 29.31%.

About Huntington Ingalls Industries

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.