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Howmet (HWM) Suffers a Larger Drop Than the General Market: Key Insights
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Howmet (HWM - Free Report) closed at $232.94 in the latest trading session, marking a -3.72% move from the prior day. This move lagged the S&P 500's daily loss of 0.28%. Meanwhile, the Dow experienced a drop of 0.44%, and the technology-dominated Nasdaq saw a decrease of 0.28%.
Prior to today's trading, shares of the maker of engineered products for the aerospace and other industries had lost 2.98% was narrower than the Aerospace sector's loss of 4.12% and the S&P 500's loss of 3.59%.
The investment community will be closely monitoring the performance of Howmet in its forthcoming earnings report. The company is predicted to post an EPS of $1.08, indicating a 25.58% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.24 billion, indicating a 15.3% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.55 per share and a revenue of $9.21 billion, representing changes of +20.69% and +11.57%, respectively, from the prior year.
Any recent changes to analyst estimates for Howmet should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.81% higher. Howmet is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Howmet is holding a Forward P/E ratio of 53.23. This signifies a premium in comparison to the average Forward P/E of 24.92 for its industry.
We can additionally observe that HWM currently boasts a PEG ratio of 2.24. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Aerospace - Defense stocks are, on average, holding a PEG ratio of 2.07 based on yesterday's closing prices.
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 153, which puts it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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) Suffers a Larger Drop Than the General Market: Key Insights
Howmet (HWM - Free Report) closed at $232.94 in the latest trading session, marking a -3.72% move from the prior day. This move lagged the S&P 500's daily loss of 0.28%. Meanwhile, the Dow experienced a drop of 0.44%, and the technology-dominated Nasdaq saw a decrease of 0.28%.
Prior to today's trading, shares of the maker of engineered products for the aerospace and other industries had lost 2.98% was narrower than the Aerospace sector's loss of 4.12% and the S&P 500's loss of 3.59%.
The investment community will be closely monitoring the performance of Howmet in its forthcoming earnings report. The company is predicted to post an EPS of $1.08, indicating a 25.58% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.24 billion, indicating a 15.3% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.55 per share and a revenue of $9.21 billion, representing changes of +20.69% and +11.57%, respectively, from the prior year.
Any recent changes to analyst estimates for Howmet should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.81% higher. Howmet is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Howmet is holding a Forward P/E ratio of 53.23. This signifies a premium in comparison to the average Forward P/E of 24.92 for its industry.
We can additionally observe that HWM currently boasts a PEG ratio of 2.24. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Aerospace - Defense stocks are, on average, holding a PEG ratio of 2.07 based on yesterday's closing prices.
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 153, which puts it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.