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Howmet (HWM) Surges 4.6%: Is This an Indication of Further Gains?
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Howmet Aerospace Inc. (HWM - Free Report) shares ended the last trading session 4.6% higher at $184.9. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 4% gain over the past four weeks.
Howmet’s rally is primarily driven by optimism about its strong momentum in the commercial and defense aerospace markets. Robust orders for engine spares for the F-35 program, aerospace fastening systems and airframe structural components augur well. Given the strength in most of its served markets, Howmet has built a sound liquidity position that supports its shareholder-friendly policies.
This maker of engineered products for the aerospace and other industries is expected to post quarterly earnings of $0.86 per share in its upcoming report, which represents a year-over-year change of +28.4%. Revenues are expected to be $1.99 billion, up 5.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Howmet, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on HWM going forward to see if this recent jump can turn into more strength down the road.
Howmet belongs to the Zacks Aerospace - Defense industry. Another stock from the same industry, General Dynamics (GD - Free Report) , closed the last trading session 0.2% lower at $290.74. Over the past month, GD has returned 5.9%.
For General Dynamics, the consensus EPS estimate for the upcoming report has changed +0.3% over the past month to $3.47. This represents a change of +6.4% from what the company reported a year ago. General Dynamics currently has a Zacks Rank of #3 (Hold).
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Howmet (HWM) Surges 4.6%: Is This an Indication of Further Gains?
Howmet Aerospace Inc. (HWM - Free Report) shares ended the last trading session 4.6% higher at $184.9. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 4% gain over the past four weeks.
Howmet’s rally is primarily driven by optimism about its strong momentum in the commercial and defense aerospace markets. Robust orders for engine spares for the F-35 program, aerospace fastening systems and airframe structural components augur well. Given the strength in most of its served markets, Howmet has built a sound liquidity position that supports its shareholder-friendly policies.
This maker of engineered products for the aerospace and other industries is expected to post quarterly earnings of $0.86 per share in its upcoming report, which represents a year-over-year change of +28.4%. Revenues are expected to be $1.99 billion, up 5.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Howmet, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on HWM going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Howmet belongs to the Zacks Aerospace - Defense industry. Another stock from the same industry, General Dynamics (GD - Free Report) , closed the last trading session 0.2% lower at $290.74. Over the past month, GD has returned 5.9%.
For General Dynamics, the consensus EPS estimate for the upcoming report has changed +0.3% over the past month to $3.47. This represents a change of +6.4% from what the company reported a year ago. General Dynamics currently has a Zacks Rank of #3 (Hold).