In the latest close session, Boeing (BA) was up +2.76% at $210.45. This change outpaced the S&P 500's 0.86% gain on the day. On the other hand, the Dow registered a gain of 0.98%, and the technology-centric Nasdaq increased by 0.96%.
Prior to today's trading, shares of the airplane builder had lost 11.08% was narrower than the Aerospace sector's loss of 13.03% and lagged the S&P 500's loss of 1.96%.
Investors will be eagerly watching for the performance of Boeing in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.15, showcasing a 97.99% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $24.87 billion, indicating a 6.88% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.9 per share and a revenue of $97.77 billion, demonstrating changes of +91.54% and +9.29%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Boeing. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 3.01% decrease. Boeing presently features a Zacks Rank of #3 (Hold).
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 102, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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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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