The most recent trading session ended with Boeing (BA) standing at $165.96, reflecting a +1.13% shift from the previouse trading day’s closing. The stock’s change was more than the S&P 500’s daily gain of 0.82%. Meanwhile, the Dow experienced a drop of 0.22%, and the technology-dominated Nasdaq saw an increase of 1.77%.
The airplane builder’s stock has climbed by 13.04% in the past month, exceeding the Aerospace sector’s loss of 4.4% and the S&P 500’s gain of 0.8%.
The investment community will be closely monitoring the performance of Boeing in its forthcoming earnings report. The company is predicted to post an EPS of -$2.14, indicating a 355.32% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $18.2 billion, indicating a 17.33% decrease compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$16.18 per share and a revenue of $69.53 billion, representing changes of -178.49% and -10.62%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Boeing. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there’s been a 0.59% fall in the Zacks Consensus EPS estimate. At present, Boeing boasts a Zacks Rank of #5 (Strong Sell).
The Aerospace – Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 179, putting it in the bottom 29% of all 250+ industries.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
