Boeing (BA) ended the recent trading session at $214.08, demonstrating a +2.79% change from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 0.88%. Meanwhile, the Dow gained 0.38%, and the Nasdaq, a tech-heavy index, added 1.31%.
The airplane builder's stock has climbed by 16.1% in the past month, exceeding the Aerospace sector's gain of 2.41% and the S&P 500's gain of 2.48%.
Analysts and investors alike will be keeping a close eye on the performance of Boeing in its upcoming earnings disclosure. In that report, analysts expect Boeing to post earnings of -$0.43 per share. This would mark year-over-year growth of 92.71%. Meanwhile, the latest consensus estimate predicts the revenue to be $21.81 billion, indicating a 43.08% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of -$9.53 per share and a revenue of $87.32 billion, demonstrating changes of +53.24% and +31.27%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Boeing. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 11.2% downward. As of now, Boeing holds a Zacks Rank of #3 (Hold).
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 95, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming 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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