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The latest trading session saw Howmet (HWM - Free Report) ending at $95.28, denoting a +1.11% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily gain of 0.54%. Meanwhile, the Dow experienced a rise of 0.72%, and the technology-dominated Nasdaq saw an increase of 0.65%.
Prior to today's trading, shares of the maker of engineered products for the aerospace and other industries had lost 1.41% over the past month. This has lagged the Construction sector's gain of 5.07% and the S&P 500's gain of 4.86% in that time.
Market participants will be closely following the financial results of Howmet in its upcoming release. In that report, analysts expect Howmet to post earnings of $0.65 per share. This would mark year-over-year growth of 41.3%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.86 billion, indicating a 11.89% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.59 per share and revenue of $7.48 billion, indicating changes of +40.76% and +12.58%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Howmet should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Howmet is holding a Zacks Rank of #1 (Strong Buy) right now.
Investors should also note Howmet's current valuation metrics, including its Forward P/E ratio of 36.38. For comparison, its industry has an average Forward P/E of 21.49, which means Howmet is trading at a premium to the group.
We can also see that HWM currently has a PEG ratio of 1.41. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Engineering - R and D Services industry held an average PEG ratio of 1.43.
The Engineering - R and D Services industry is part of the Construction sector. Currently, this industry holds a Zacks Industry Rank of 94, positioning it in the top 38% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Howmet (HWM) Laps the Stock Market: Here's Why
The latest trading session saw Howmet (HWM - Free Report) ending at $95.28, denoting a +1.11% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily gain of 0.54%. Meanwhile, the Dow experienced a rise of 0.72%, and the technology-dominated Nasdaq saw an increase of 0.65%.
Prior to today's trading, shares of the maker of engineered products for the aerospace and other industries had lost 1.41% over the past month. This has lagged the Construction sector's gain of 5.07% and the S&P 500's gain of 4.86% in that time.
Market participants will be closely following the financial results of Howmet in its upcoming release. In that report, analysts expect Howmet to post earnings of $0.65 per share. This would mark year-over-year growth of 41.3%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.86 billion, indicating a 11.89% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.59 per share and revenue of $7.48 billion, indicating changes of +40.76% and +12.58%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Howmet should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Howmet is holding a Zacks Rank of #1 (Strong Buy) right now.
Investors should also note Howmet's current valuation metrics, including its Forward P/E ratio of 36.38. For comparison, its industry has an average Forward P/E of 21.49, which means Howmet is trading at a premium to the group.
We can also see that HWM currently has a PEG ratio of 1.41. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Engineering - R and D Services industry held an average PEG ratio of 1.43.
The Engineering - R and D Services industry is part of the Construction sector. Currently, this industry holds a Zacks Industry Rank of 94, positioning it in the top 38% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.