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Boeing (BA) Gains But Lags Market: What You Should Know
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Boeing (BA - Free Report) closed the latest trading day at $187.38, indicating a +0.59% change from the previous session's end. The stock trailed the S&P 500, which registered a daily gain of 1.18%. At the same time, the Dow added 0.87%, and the tech-heavy Nasdaq gained 1.6%.
Coming into today, shares of the airplane builder had lost 13.78% in the past month. In that same time, the Aerospace sector lost 9.91%, while the S&P 500 lost 5.17%.
The investment community will be closely monitoring the performance of Boeing in its forthcoming earnings report. The company is scheduled to release its earnings on October 25, 2023. The company is forecasted to report an EPS of -$2.52, showcasing a 59.22% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $18.94 billion, showing a 18.7% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$3.69 per share and revenue of $78.53 billion, which would represent changes of +66.64% and +17.9%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Boeing. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 76.84% lower within the past month. Boeing currently has a Zacks Rank of #3 (Hold).
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 105, which puts it in the top 42% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Boeing (BA) Gains But Lags Market: What You Should Know
Boeing (BA - Free Report) closed the latest trading day at $187.38, indicating a +0.59% change from the previous session's end. The stock trailed the S&P 500, which registered a daily gain of 1.18%. At the same time, the Dow added 0.87%, and the tech-heavy Nasdaq gained 1.6%.
Coming into today, shares of the airplane builder had lost 13.78% in the past month. In that same time, the Aerospace sector lost 9.91%, while the S&P 500 lost 5.17%.
The investment community will be closely monitoring the performance of Boeing in its forthcoming earnings report. The company is scheduled to release its earnings on October 25, 2023. The company is forecasted to report an EPS of -$2.52, showcasing a 59.22% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $18.94 billion, showing a 18.7% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$3.69 per share and revenue of $78.53 billion, which would represent changes of +66.64% and +17.9%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Boeing. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 76.84% lower within the past month. Boeing currently has a Zacks Rank of #3 (Hold).
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 105, which puts it in the top 42% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.