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In a recent development this Thursday, JP Morgan upgraded the outlook on Huntington Ingalls Industries (NYSE from Neutral to Overweight. This revision comes with a forecast of an upside of 24.72%, setting a new price target of $253.41.
Earlier this week, HII announced a quarterly dividend of $1.24 per share. This represents a yield of 2.44%, which is notably higher than the company’s historical average yield of 2.12%. HII’s current payout ratio stands at 0.38, accompanied by a three-year dividend growth rate of 0.20%. It is worth mentioning that according to InvestingPro, HII has increased its dividend for 11 consecutive years and has maintained dividend payments for 12 consecutive years. These are clear indicators of the company’s commitment to delivering value to its shareholders.
Huntington Ingalls Industries has projected annual revenue of $11.038 billion for the fiscal year. The company also anticipates non-GAAP EPS of 15.28. However, data from InvestingPro shows that revenue growth has slowed recently, with a growth rate of 6.3% in the last twelve months (LTM2023.Q2). The company’s gross profit margin stands at 13.21%, suggesting some room for improvement.
HII’s major shareholders include Capital World Investors and Invesco, demonstrating investors’ continued confidence in the defense contractor’s financial performance and growth potential. The company’s market capitalization, as provided by InvestingPro, is $8.2 billion and it is trading on a P/E ratio of 15.59, offering relatively low price volatility, as advised by InvestingPro .
InvestingPro real-time metrics also indicate a 1-year total price return of -7.75% and a fair value estimate of $251.6, slightly below JP Morgan’s new price target. The company’s next earnings date is set for November 9, 2023.
For more information and advice on HII and other companies, consider exploring InvestingPro’s premium offerings, including additional advice and real-time metrics. InvestingPro Tips offers a variety of valuable information to make informed investment decisions.
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