Boeing (BA) closed at $237.13 in the latest trading session, marking a +1.04% move from the prior day. The stock's change was more than the S&P 500's daily loss of 0.69%. Meanwhile, the Dow lost 0.55%, and the Nasdaq, a tech-heavy index, lost 0.82%.
Prior to today's trading, shares of the airplane builder had gained 5.55% outpaced the Aerospace sector's gain of 1.09% and the S&P 500's gain of 3.79%.
The investment community will be paying close attention to the earnings performance of Boeing in its upcoming release. On that day, Boeing is projected to report earnings of -$0.51 per share, which would represent year-over-year growth of 95.11%. At the same time, our most recent consensus estimate is projecting a revenue of $21.35 billion, reflecting a 19.67% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$2.33 per share and revenue of $85.66 billion, indicating changes of +88.57% and +28.77%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Boeing. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 1.22% fall in the Zacks Consensus EPS estimate. Boeing is currently sporting a Zacks Rank of #3 (Hold).
The Aerospace - Defense industry is part of the Aerospace sector. This industry, currently bearing a Zacks Industry Rank of 85, finds itself in the top 35% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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The Boeing Company (BA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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