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Howmet (HWM) Ascends But Remains Behind Market: Some Facts to Note
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Howmet (HWM - Free Report) closed at $82.68 in the latest trading session, marking a +0.41% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 1.11%. Meanwhile, the Dow experienced a rise of 1.64%, and the technology-dominated Nasdaq saw an increase of 1.03%.
The maker of engineered products for the aerospace and other industries's stock has climbed by 3.44% in the past month, falling short of the Construction sector's gain of 7.81% and outpacing the S&P 500's loss of 1.16%.
Analysts and investors alike will be keeping a close eye on the performance of Howmet in its upcoming earnings disclosure. The company's earnings report is set to go public on July 30, 2024. The company's upcoming EPS is projected at $0.60, signifying a 36.36% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $1.84 billion, up 11.51% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.39 per share and revenue of $7.34 billion, which would represent changes of +29.89% and +10.58%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Howmet. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.05% higher within the past month. Howmet is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Howmet has a Forward P/E ratio of 34.5 right now. This represents a premium compared to its industry's average Forward P/E of 20.29.
One should further note that HWM currently holds a PEG ratio of 1.5. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Engineering - R and D Services industry stood at 1.41 at the close of the market yesterday.
The Engineering - R and D Services industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 74, placing it within the top 30% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Howmet (HWM) Ascends But Remains Behind Market: Some Facts to Note
Howmet (HWM - Free Report) closed at $82.68 in the latest trading session, marking a +0.41% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 1.11%. Meanwhile, the Dow experienced a rise of 1.64%, and the technology-dominated Nasdaq saw an increase of 1.03%.
The maker of engineered products for the aerospace and other industries's stock has climbed by 3.44% in the past month, falling short of the Construction sector's gain of 7.81% and outpacing the S&P 500's loss of 1.16%.
Analysts and investors alike will be keeping a close eye on the performance of Howmet in its upcoming earnings disclosure. The company's earnings report is set to go public on July 30, 2024. The company's upcoming EPS is projected at $0.60, signifying a 36.36% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $1.84 billion, up 11.51% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.39 per share and revenue of $7.34 billion, which would represent changes of +29.89% and +10.58%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Howmet. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.05% higher within the past month. Howmet is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Howmet has a Forward P/E ratio of 34.5 right now. This represents a premium compared to its industry's average Forward P/E of 20.29.
One should further note that HWM currently holds a PEG ratio of 1.5. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Engineering - R and D Services industry stood at 1.41 at the close of the market yesterday.
The Engineering - R and D Services industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 74, placing it within the top 30% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.