Boeing (BA) closed at $149.78 in the latest trading session, marking a +0.35% move from the prior day. This move outpaced the S&P 500's daily loss of 1.13%. Elsewhere, the Dow lost 0.56%, while the tech-heavy Nasdaq added 0.03%.
Coming into today, shares of the airplane builder had lost 10.73% in the past month. In that same time, the Aerospace sector lost 6.17%, while the S&P 500 lost 7.59%.
Investors will be hoping for strength from Boeing as it approaches its next earnings release. The company is expected to report EPS of $0.21, up 135% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $18.48 billion, up 20.94% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.95 per share and revenue of $71.53 billion. These totals would mark changes of +79.34% and +14.84%, respectively, from last 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 2.63% lower. Boeing currently has a Zacks Rank of #3 (Hold).
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 83, putting it in the top 33% 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.
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 Report
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