Zacks Investment Research upgraded shares of Huntington Ingalls Industries, Inc. (NYSE:HII) from a hold rating to a buy rating in a research report sent to investors on Friday morning. The firm currently has $282.00 target price on the aerospace company’s stock.
According to Zacks, “Huntington Ingalls’ top-line as well as bottom-line figures in the third quarter of 2017 exceeded the respective Zacks Consensus Estimate. Year-over-year quarterly results also remained impressive. Being the nation’s largest military shipbuilder, Huntington Ingalls continues to boast stable financials and regular cash returns to shareholders. It is the sole designer and manufacturer of nuclear powered aircraft carriers in the United States, with more than 70% of the active U.S. Navy fleet consisting of Huntington Ingalls ships. Its solid capital resources fund operations, which allow the company to consistently generate improved cash flow. It also outperformed the broader industry over a year. However, Huntington Ingalls' limited commercial exposure and high dependence on the government might dent margins amid uncertain U.S. defense spending trends.”
Other equities analysts have also recently issued research reports about the company. BidaskClub cut Huntington Ingalls Industries from a buy rating to a hold rating in a report on Wednesday, August 23rd. Cowen and Company reiterated a hold rating and issued a $225.00 target price on shares of Huntington Ingalls Industries in a research note on Friday, October 6th. Deutsche Bank AG reiterated a buy rating and issued a $240.00 target price (up from $230.00) on shares of Huntington Ingalls Industries in a research note on Wednesday, August 9th. Credit Suisse Group reiterated a neutral rating and issued a $241.00 target price (up from $211.00) on shares of Huntington Ingalls Industries in a research note on Thursday. Finally, Citigroup Inc. reiterated a neutral rating and issued a $233.00 target price (up from $224.00) on shares of Huntington Ingalls Industries in a research note on Monday, October 9th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $222.57.
Shares of Huntington Ingalls Industries (NYSE:HII) traded down $1.89 during midday trading on Friday, hitting $240.66. The stock had a trading volume of 284,700 shares, compared to its average volume of 337,132. The company has a market cap of $10,892.58, a PE ratio of 20.02, a price-to-earnings-growth ratio of 1.34 and a beta of 1.19. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.52 and a quick ratio of 1.38. Huntington Ingalls Industries has a 12 month low of $169.87 and a 12 month high of $253.44.
Huntington Ingalls Industries (NYSE:HII) last announced its quarterly earnings data on Wednesday, November 8th. The aerospace company reported $3.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.78 by $0.49. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Huntington Ingalls Industries had a return on equity of 33.37% and a net margin of 8.31%. Huntington Ingalls Industries’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.27 EPS. sell-side analysts anticipate that Huntington Ingalls Industries will post 11.99 earnings per share for the current fiscal year.
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Huntington Ingalls Industries announced that its board has authorized a share repurchase plan on Tuesday, November 7th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the aerospace company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 24th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.20%. This is an increase from Huntington Ingalls Industries’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Wednesday, November 22nd. Huntington Ingalls Industries’s payout ratio is presently 18.13%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Huntington Ingalls Industries by 2.7% in the second quarter. BlackRock Inc. now owns 4,572,209 shares of the aerospace company’s stock valued at $851,165,000 after buying an additional 120,171 shares in the last quarter. State Street Corp increased its stake in Huntington Ingalls Industries by 0.4% in the second quarter. State Street Corp now owns 2,921,169 shares of the aerospace company’s stock valued at $543,803,000 after acquiring an additional 12,014 shares during the last quarter. FMR LLC increased its stake in Huntington Ingalls Industries by 4.1% in the second quarter. FMR LLC now owns 2,881,190 shares of the aerospace company’s stock valued at $536,363,000 after acquiring an additional 114,098 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Huntington Ingalls Industries by 6.1% in the second quarter. Goldman Sachs Group Inc. now owns 928,427 shares of the aerospace company’s stock valued at $172,836,000 after acquiring an additional 53,288 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Huntington Ingalls Industries by 6.9% in the second quarter. Wells Fargo & Company MN now owns 732,828 shares of the aerospace company’s stock valued at $136,423,000 after acquiring an additional 47,379 shares during the last quarter. Institutional investors own 84.65% of the company’s stock.
Huntington Ingalls Industries Company Profile
Huntington Ingalls Industries, Inc is a military shipbuilding company and a provider of professional services to partners in government and industry. The Company’s business consists of the design, construction, repair and maintenance of nuclear-powered ships and non-nuclear ships for the United States Navy and coastal defense surface ships for the United States Coast Guard, as well as the refueling and overhaul and inactivation of nuclear-powered ships for the United States Navy.
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