Boeing (BA) closed at $200.37 in the latest trading session, marking a -2.86% move from the prior day. This change lagged the S&P 500's 0.09% loss on the day. Elsewhere, the Dow lost 0.38%, while the tech-heavy Nasdaq added 0.13%.
Heading into today, shares of the airplane builder had gained 5.88% over the past month, outpacing the Aerospace sector's loss of 1.1% and the S&P 500's gain of 1.89%.
Investors will be eagerly watching for the performance of Boeing in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.43, showcasing a 92.71% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $21.81 billion, indicating a 43.08% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$9.53 per share and revenue of $86.83 billion. These totals would mark changes of +53.24% and +30.53%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Boeing. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 10.51% decrease. Right now, Boeing possesses a Zacks Rank of #3 (Hold).
The Aerospace - Defense industry is part of the Aerospace sector. At present, this industry carries a Zacks Industry Rank of 61, placing it within the top 25% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the 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 Boeing Company (BA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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