Melius Research Issues Negative Forecast for HII Earnings

Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) - Melius Research lowered their Q3 2024 EPS estimates for shares of Huntington Ingalls Industries in a research note issued on Wednesday, October 16th. Melius Research analyst R. Spingarn now forecasts that the aerospace company will post earnings of $3.69 per share 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 - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The aerospace company reported $4.38 EPS for the quarter, beating analysts' consensus estimates of $3.61 by $0.77. The business had revenue of $2.98 billion for the quarter, compared to analysts' expectations of $2.84 billion. Huntington Ingalls Industries had a return on equity of 18.55% and a net margin of 6.35%. The business's quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the firm earned $3.27 earnings per share.

HII has been the subject of a number of other research reports. JPMorgan Chase & Co. cut Huntington Ingalls Industries from an "overweight" rating to a "neutral" rating and lifted their target price for the stock from $280.00 to $285.00 in a report on Monday, September 9th. Wolfe Research cut shares of Huntington Ingalls Industries from an "outperform" rating to a "peer perform" rating in a research report on Thursday, October 10th. Finally, Vertical Research downgraded shares of Huntington Ingalls Industries from a "buy" rating to a "hold" rating and set a $275.00 target price on the stock. in a research note on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Huntington Ingalls Industries currently has a consensus rating of "Hold" and an average target price of $290.00.

Huntington Ingalls Industries Price Performance

Shares of NYSE:HII traded down $0.72 during mid-day trading on Monday, reaching $260.81. The stock had a trading volume of 75,129 shares, compared to its average volume of 305,502. The company has a market cap of $10.28 billion, a P/E ratio of 14.74, a price-to-earnings-growth ratio of 2.25 and a beta of 0.52. Huntington Ingalls Industries has a 1 year low of $212.58 and a 1 year high of $299.50. The business's 50 day moving average price is $266.23 and its 200 day moving average price is $261.51. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 0.41.

Huntington Ingalls Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $5.20 annualized dividend and a yield of 1.99%. Huntington Ingalls Industries's dividend payout ratio (DPR) is 29.31%.

Institutional Investors Weigh In On Huntington Ingalls Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oliver Lagore Vanvalin Investment Group raised its position in shares of Huntington Ingalls Industries by 9.1% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 492 shares of the aerospace company's stock valued at $121,000 after purchasing an additional 41 shares during the last quarter. Gulf International Bank UK Ltd grew its holdings in shares of Huntington Ingalls Industries by 1.3% during the first quarter. Gulf International Bank UK Ltd now owns 3,284 shares of the aerospace company's stock valued at $957,000 after buying an additional 42 shares during the last quarter. Ballentine Partners LLC increased its position in shares of Huntington Ingalls Industries by 1.6% in the 2nd quarter. Ballentine Partners LLC now owns 2,625 shares of the aerospace company's stock valued at $647,000 after acquiring an additional 42 shares during the period. GAMMA Investing LLC increased its position in shares of Huntington Ingalls Industries by 16.4% in the 2nd quarter. GAMMA Investing LLC now owns 320 shares of the aerospace company's stock valued at $79,000 after acquiring an additional 45 shares during the period. Finally, Hilltop National Bank raised its stake in Huntington Ingalls Industries by 15.1% in the 2nd quarter. Hilltop National Bank now owns 359 shares of the aerospace company's stock worth $88,000 after acquiring an additional 47 shares during the last quarter. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

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.