Yahoo Finance How to Find Strong Buy Construction Stocks Using the Zacks Rank
Whether you're a growth, value, income, or momentum-focused investor, building a successful investment portfolio takes skill, research, and a little bit of luck.
Should You Buy #1 (Strong Buy)-Ranked Howmet (HWM) for Your Portfolio?
Howmet was upgraded to the Zacks Rank #1 list on May 8, 2024. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.
Headquartered in Pittsburgh, PA, Howmet Aerospace Inc. engages in providing engineered solutions for customers in the transportation and aerospace (both defense and commercial) industries. Notably, it offers forged wheels for commercial use in the transportation industry. It also provides aerospace fastening systems, components used in jet engines and structural parts made of titanium used in defense and aerospace applications.
Seven analysts revised their earnings estimate higher in the last 60 days for fiscal 2024, while the Zacks Consensus Estimate has increased $0.22 to $2.39 per share. HWM also boasts an average earnings surprise of 8.5%.
Earnings are expected to grow 29.9% for the current fiscal year, while revenue is projected to increase 10.6%.
Additionally, HWM has climbed higher over the past four weeks, gaining 25.1%. The S&P 500 is up 0.2% in comparison.
Bottom Line
With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Howmet could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.
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