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Boeing (BA) Stock Sinks As Market Gains: What You Should Know
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Boeing (BA - Free Report) closed the most recent trading day at $210.78, moving -0.28% from the previous trading session. This change lagged the S&P 500's daily gain of 0.1%. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq lost 2.19%.
Coming into today, shares of the airplane builder had gained 4.09% in the past month. In that same time, the Aerospace sector lost 1.26%, while the S&P 500 gained 3.13%.
Wall Street will be looking for positivity from Boeing as it approaches its next earnings report date. This is expected to be April 26, 2023. The company is expected to report EPS of -$0.83, up 69.82% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $17.67 billion, up 26.31% from the year-ago period.
BA's full-year Zacks Consensus Estimates are calling for earnings of $0.12 per share and revenue of $81.46 billion. These results would represent year-over-year changes of +101.08% and +22.3%, respectively.
Investors should also note any recent changes to analyst estimates for Boeing. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 78.88% lower. Boeing is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Boeing's current valuation metrics, including its Forward P/E ratio of 1782.64. Its industry sports an average Forward P/E of 18.12, so we one might conclude that Boeing is trading at a premium comparatively.
Also, we should mention that BA has a PEG ratio of 445.66. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Aerospace - Defense stocks are, on average, holding a PEG ratio of 1.96 based on yesterday's closing prices.
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 63, putting it in the top 25% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Boeing (BA) Stock Sinks As Market Gains: What You Should Know
Boeing (BA - Free Report) closed the most recent trading day at $210.78, moving -0.28% from the previous trading session. This change lagged the S&P 500's daily gain of 0.1%. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq lost 2.19%.
Coming into today, shares of the airplane builder had gained 4.09% in the past month. In that same time, the Aerospace sector lost 1.26%, while the S&P 500 gained 3.13%.
Wall Street will be looking for positivity from Boeing as it approaches its next earnings report date. This is expected to be April 26, 2023. The company is expected to report EPS of -$0.83, up 69.82% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $17.67 billion, up 26.31% from the year-ago period.
BA's full-year Zacks Consensus Estimates are calling for earnings of $0.12 per share and revenue of $81.46 billion. These results would represent year-over-year changes of +101.08% and +22.3%, respectively.
Investors should also note any recent changes to analyst estimates for Boeing. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 78.88% lower. Boeing is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Boeing's current valuation metrics, including its Forward P/E ratio of 1782.64. Its industry sports an average Forward P/E of 18.12, so we one might conclude that Boeing is trading at a premium comparatively.
Also, we should mention that BA has a PEG ratio of 445.66. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Aerospace - Defense stocks are, on average, holding a PEG ratio of 1.96 based on yesterday's closing prices.
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 63, putting it in the top 25% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.