Howmet (HWM) closed at $102.83 in the latest trading session, marking a +0.18% move from the prior day. The stock's change was more than the S&P 500's daily loss of 0.92%. Meanwhile, the Dow experienced a drop of 0.96%, and the technology-dominated Nasdaq saw a decrease of 1.6%.

Coming into today, shares of the maker of engineered products for the aerospace and other industries had gained 3.35% in the past month. In that same time, the Construction sector lost 1.67%, while the S&P 500 gained 2.68%.

Market participants will be closely following the financial results of Howmet in its upcoming release. The company plans to announce its earnings on November 6, 2024. The company is predicted to post an EPS of $0.65, indicating a 41.3% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $1.85 billion, reflecting a 11.83% rise from the equivalent quarter last year.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.60 per share and revenue of $7.46 billion. These totals would mark changes of +41.3% and +12.4%, respectively, from last year.

Investors should also pay attention to any latest changes in analyst estimates for Howmet. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

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.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.21% higher. Howmet is currently sporting a Zacks Rank of #2 (Buy).

In terms of valuation, Howmet is currently trading at a Forward P/E ratio of 39.55. For comparison, its industry has an average Forward P/E of 23.17, which means Howmet is trading at a premium to the group.

We can also see that HWM currently has a PEG ratio of 1.49. 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. Engineering - R and D Services stocks are, on average, holding a PEG ratio of 1.6 based on yesterday's closing prices.