Boeing (BA) closed the latest trading day at $209.19, indicating a -1.32% change from the previous session's end. The stock trailed the S&P 500, which registered a daily loss of 0.53%. Elsewhere, the Dow saw a downswing of 0.26%, while the tech-heavy Nasdaq depreciated by 0.83%.
Shares of the airplane builder witnessed a gain of 14.24% over the previous month, beating the performance of the Aerospace sector with its gain of 10.02% and the S&P 500's gain of 5.17%.
The upcoming earnings release of Boeing will be of great interest to investors. On that day, Boeing is projected to report earnings of -$0.85 per share, which would represent year-over-year growth of 70.69%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $19.91 billion, up 18.06% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$1.75 per share and a revenue of $83.56 billion, representing changes of +91.41% and +25.63%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Boeing. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 11.06% increase. As of now, Boeing holds a Zacks Rank of #3 (Hold).
The Aerospace - Defense industry is part of the Aerospace sector. With its current Zacks Industry Rank of 51, this industry ranks in the top 21% of all industries, numbering over 250.
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.
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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