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Howmet (HWM) Stock Declines While Market Improves: Some Information for Investors
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The most recent trading session ended with Howmet (HWM - Free Report) standing at $102.65, reflecting a -1.13% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily gain of 0.77%. Elsewhere, the Dow saw an upswing of 0.47%, while the tech-heavy Nasdaq appreciated by 0.87%.
Coming into today, shares of the maker of engineered products for the aerospace and other industries had gained 8.96% in the past month. In that same time, the Construction sector gained 5.93%, while the S&P 500 gained 4.87%.
The investment community will be paying close attention to the earnings performance of Howmet in its upcoming release. The company is slated to reveal its earnings on November 6, 2024. The company's earnings per share (EPS) are projected to be $0.65, reflecting a 41.3% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.85 billion, indicating a 11.83% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.59 per share and revenue of $7.46 billion, which would represent changes of +40.76% and +12.4%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Howmet. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.04% increase. Right now, Howmet possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Howmet is at present trading with a Forward P/E ratio of 40.07. This indicates a premium in contrast to its industry's Forward P/E of 21.36.
Meanwhile, HWM's PEG ratio is currently 1.51. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Engineering - R and D Services industry had an average PEG ratio of 1.56 as trading concluded yesterday.
The Engineering - R and D Services industry is part of the Construction sector. Currently, this industry holds a Zacks Industry Rank of 66, positioning it in the top 27% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow HWM in the coming trading sessions, be sure to utilize Zacks.com.
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Howmet (HWM) Stock Declines While Market Improves: Some Information for Investors
The most recent trading session ended with Howmet (HWM - Free Report) standing at $102.65, reflecting a -1.13% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily gain of 0.77%. Elsewhere, the Dow saw an upswing of 0.47%, while the tech-heavy Nasdaq appreciated by 0.87%.
Coming into today, shares of the maker of engineered products for the aerospace and other industries had gained 8.96% in the past month. In that same time, the Construction sector gained 5.93%, while the S&P 500 gained 4.87%.
The investment community will be paying close attention to the earnings performance of Howmet in its upcoming release. The company is slated to reveal its earnings on November 6, 2024. The company's earnings per share (EPS) are projected to be $0.65, reflecting a 41.3% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.85 billion, indicating a 11.83% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.59 per share and revenue of $7.46 billion, which would represent changes of +40.76% and +12.4%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Howmet. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.04% increase. Right now, Howmet possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Howmet is at present trading with a Forward P/E ratio of 40.07. This indicates a premium in contrast to its industry's Forward P/E of 21.36.
Meanwhile, HWM's PEG ratio is currently 1.51. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Engineering - R and D Services industry had an average PEG ratio of 1.56 as trading concluded yesterday.
The Engineering - R and D Services industry is part of the Construction sector. Currently, this industry holds a Zacks Industry Rank of 66, positioning it in the top 27% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow HWM in the coming trading sessions, be sure to utilize Zacks.com.