In the latest trading session, Boeing (BA) closed at $217.08, marking a -1.89% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.26%. On the other hand, the Dow registered a gain of 0.15%, and the technology-centric Nasdaq increased by 0.48%.
Coming into today, shares of the airplane builder had lost 5.72% in the past month. In that same time, the Aerospace sector gained 2.44%, while the S&P 500 gained 2.87%.
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%. Meanwhile, our latest consensus estimate is calling for revenue of $21.35 billion, up 19.67% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$2.33 per share and revenue of $85.66 billion. These totals would mark changes of +88.57% and +28.78%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Boeing. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Boeing is currently a Zacks Rank #3 (Hold).
The Aerospace - Defense industry is part of the Aerospace sector. With its current Zacks Industry Rank of 93, this industry ranks in the top 38% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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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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