Howmet (HWM) reachead $97.45 at the closing of the latest trading day, reflecting a +0.02% change compared to its last close.
Howmet (HWM) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
In the closing of the recent trading day, Howmet (HWM) stood at $95.28, denoting a +1.11% change from the preceding trading day.
Howmet Aerospace Inc. (NYSE:HWM ) Jefferies 2024 Global Industrial Conference September 5, 2024 10:25 AM ET Company Participants John Plant – Chairman and Chief Executive Officer Conference Call Participants Sheila Kahyaoglu – Jefferies Sheila Kahyaoglu Good morning, everyone. My name is Sheila Kahyaoglu, with the Jefferies Aerospace and Defense Equity Research team, and thank you for Howmet for supporting our conference.
Howmet (HWM) reported earnings 30 days ago. What's next for the stock?
Howmet (HWM) benefits from strength across its end markets, solid liquidity position and shareholder-friendly policies.
When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?
Here is how Howmet (HWM) and Primoris Services (PRIM) have performed compared to their sector so far this year.
The strong air travel demand from the previous quarter continues into the current quarter. With commercial aerospace accounting for 52% of total revenue, this is anticipated to bolster HWM's outlook. Despite challenges with Boeing's production rate, HWM remains optimistic and has increased its expected build rate for Boeing's 737 aircraft. For its most recent 2Q24, HWM delivered strong earnings results, with revenue growing 14% year-over-year, driven by the commercial aerospace market. Additionally, margins also expanded.
Hold rating for Howmet Aerospace due to the high valuation. The business provides engineered solutions for the aerospace and transportation industries, with commercial aircraft as the largest growth driver. Positive long-term growth outlook for commercial segment due to increasing air passengers and aftermarket demand.
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Howmet (HWM) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.