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Boeing (BA) Dips More Than Broader Markets: What You Should Know

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Boeing (BA - Free Report) closed at $176.45 in the latest trading session, marking a -1.86% move from the prior day. This change lagged the S&P 500's daily loss of 1.23%. Meanwhile, the Dow lost 1.31%, and the Nasdaq, a tech-heavy index, lost 2.29%.

Coming into today, shares of the airplane builder had gained 1.75% in the past month. In that same time, the Aerospace sector lost 1.75%, while the S&P 500 gained 5.2%.

Wall Street will be looking for positivity from BA as it approaches its next earnings report date. This is expected to be July 29, 2020. The company is expected to report EPS of -$2.93, down 200.34% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $12.61 billion, down 19.96% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$6.26 per share and revenue of $63.28 billion, which would represent changes of -80.4% and -17.34%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for BA. 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. Over the past month, the Zacks Consensus EPS estimate has moved 10.76% lower. BA is currently a Zacks Rank #4 (Sell).

The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 200, which puts it in the bottom 22% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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