The latest trading session saw Boeing (BA – Free Report) ending at $177, denoting a +0.25% adjustment from its last day’s close. This move outpaced the S&P 500’s daily loss of 0.43%. Elsewhere, the Dow saw a downswing of 0.07%, while the tech-heavy Nasdaq depreciated by 0.9%.
The the stock of airplane builder has risen by 12.78% in the past month, leading the Aerospace sector’s loss of 5.05% and the S&P 500’s loss of 1.98%.
Investors will be eagerly watching for the performance of Boeing in its upcoming earnings disclosure. The company is expected to report EPS of -$2.14, down 355.32% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $17.08 billion, down 22.4% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$16.31 per share and revenue of $68.36 billion. These totals would mark changes of -180.72% and -12.13%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for Boeing. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts’ positivity towards the company’s business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.78% lower. Boeing is currently a Zacks Rank #3 (Hold).
The Aerospace – Defense industry is part of the Aerospace sector. This industry, currently bearing a Zacks Industry Rank of 172, finds itself in the bottom 32% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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