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Howmet (HWM) closed the latest trading day at $78.90, indicating a -0.42% change from the previous session's end. The stock's change was less than the S&P 500's daily gain of 0.28%. On the other hand, the Dow registered a gain of 0.53%, and the technology-centric Nasdaq increased by 0.4%.

Shares of the maker of engineered products for the aerospace and other industries have appreciated by 0.37% over the course of the past month, underperforming the Construction sector's gain of 0.98% and the S&P 500's gain of 3.78%.

Analysts and investors alike will be keeping a close eye on the performance of Howmet in its upcoming earnings disclosure. The company's earnings report is set to go public on July 30, 2024. On that day, Howmet is projected to report earnings of $0.60 per share, which would represent year-over-year growth of 36.36%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.84 billion, indicating a 11.51% increase compared to the same quarter of the previous year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.39 per share and a revenue of $7.35 billion, representing changes of +29.89% and +10.69%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for Howmet. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Our research suggests that these changes in estimates have a direct relationship with upcoming 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.23% higher. Howmet currently has a Zacks Rank of #3 (Hold).

In terms of valuation, Howmet is presently being traded at a Forward P/E ratio of 33.14. Its industry sports an average Forward P/E of 19.9, so one might conclude that Howmet is trading at a premium comparatively.

We can additionally observe that HWM currently boasts a PEG ratio of 1.44. 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. The average PEG ratio for the Engineering - R and D Services industry stood at 1.36 at the close of the market yesterday.

The Engineering - R and D Services industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 160, placing it within the bottom 37% of over 250 industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.