Huntington Ingalls Industries (NYSE:HII) Issues Earnings Results, Beats Estimates By $0.31 EPS

Huntington Ingalls Industries (NYSE:HIIGet Rating) released its quarterly earnings results on Thursday. The aerospace company reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.31, MarketWatch Earnings reports. The firm had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.54 billion. Huntington Ingalls Industries had a return on equity of 24.06% and a net margin of 5.71%. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.68 EPS.

Huntington Ingalls Industries stock traded down $3.49 during mid-day trading on Friday, reaching $216.25. 303,515 shares of the company were exchanged, compared to its average volume of 383,331. Huntington Ingalls Industries has a twelve month low of $175.50 and a twelve month high of $228.66. The firm’s 50-day simple moving average is $209.69 and its two-hundred day simple moving average is $196.82. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.08 and a current ratio of 1.15. The firm has a market cap of $8.67 billion, a PE ratio of 16.21 and a beta of 0.78.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Shareholders of record on Friday, May 27th will be given a dividend of $1.18 per share. The ex-dividend date is Thursday, May 26th. This represents a $4.72 dividend on an annualized basis and a yield of 2.18%. Huntington Ingalls Industries’s payout ratio is 35.38%.

A number of research analysts recently issued reports on HII shares. TheStreet upgraded Huntington Ingalls Industries from a “c+” rating to a “b-” rating in a research note on Thursday, March 3rd. Cowen upgraded Huntington Ingalls Industries from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $200.00 to $270.00 in a research note on Thursday, April 14th. Cowen upgraded Huntington Ingalls Industries from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $200.00 to $270.00 in a research note on Thursday, April 14th. JPMorgan Chase & Co. dropped their price target on Huntington Ingalls Industries from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Monday, February 14th. Finally, StockNews.com initiated coverage on Huntington Ingalls Industries in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $231.78.

In other news, CAO Nicolas G. Schuck sold 1,028 shares of the firm’s stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $202.37, for a total value of $208,036.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP D R. Wyatt sold 550 shares of the firm’s stock in a transaction that occurred on Thursday, February 24th. The shares were sold at an average price of $185.56, for a total value of $102,058.00. The disclosure for this sale can be found here. Insiders sold a total of 2,354 shares of company stock valued at $474,335 over the last three months. Insiders own 2.16% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HII. EverSource Wealth Advisors LLC purchased a new stake in Huntington Ingalls Industries during the fourth quarter worth $66,000. Stifel Financial Corp increased its position in shares of Huntington Ingalls Industries by 5.2% in the fourth quarter. Stifel Financial Corp now owns 7,989 shares of the aerospace company’s stock valued at $1,492,000 after buying an additional 397 shares in the last quarter. Vident Investment Advisory LLC raised its stake in shares of Huntington Ingalls Industries by 13.1% during the 4th quarter. Vident Investment Advisory LLC now owns 5,094 shares of the aerospace company’s stock worth $952,000 after buying an additional 591 shares during the last quarter. Metropolitan Life Insurance Co NY boosted its position in shares of Huntington Ingalls Industries by 16.4% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 4,565 shares of the aerospace company’s stock worth $852,000 after buying an additional 643 shares in the last quarter. Finally, LPL Financial LLC boosted its position in shares of Huntington Ingalls Industries by 4.5% in the 4th quarter. LPL Financial LLC now owns 16,369 shares of the aerospace company’s stock worth $3,057,000 after buying an additional 704 shares in the last quarter. 85.52% of the stock is owned by hedge funds and other institutional investors.

Huntington Ingalls Industries Company Profile (Get Rating)

Huntington Ingalls Industries, Inc engages in designing, building, overhauling, and repairing military ships in the United States. It operates through three segments: Ingalls Shipbuilding, Newport News Shipbuilding, and Technical Solutions. 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.

Further Reading

Earnings History for Huntington Ingalls Industries (NYSE:HII)

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