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Boeing (BA) Rises Yet Lags Behind Market: Some Facts Worth Knowing
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In the latest market close, Boeing (BA - Free Report) reached $250.91, with a +0.92% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 1.37% for the day. On the other hand, the Dow registered a gain of 1.4%, and the technology-centric Nasdaq increased by 1.38%.
Shares of the airplane builder witnessed a gain of 19.84% over the previous month, beating the performance of the Aerospace sector with its gain of 7.86% and the S&P 500's gain of 5.37%.
The investment community will be paying close attention to the earnings performance of Boeing in its upcoming release. It is anticipated that the company will report an EPS of -$0.89, marking a 49.14% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $21.07 billion, indicating a 5.45% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$6.05 per share and revenue of $76.86 billion, indicating changes of +45.3% and +15.4%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Boeing. These revisions help to show the ever-changing nature 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 8.1% lower. At present, Boeing boasts a Zacks Rank of #3 (Hold).
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 55, putting it in the top 22% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Boeing (BA) Rises Yet Lags Behind Market: Some Facts Worth Knowing
In the latest market close, Boeing (BA - Free Report) reached $250.91, with a +0.92% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 1.37% for the day. On the other hand, the Dow registered a gain of 1.4%, and the technology-centric Nasdaq increased by 1.38%.
Shares of the airplane builder witnessed a gain of 19.84% over the previous month, beating the performance of the Aerospace sector with its gain of 7.86% and the S&P 500's gain of 5.37%.
The investment community will be paying close attention to the earnings performance of Boeing in its upcoming release. It is anticipated that the company will report an EPS of -$0.89, marking a 49.14% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $21.07 billion, indicating a 5.45% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$6.05 per share and revenue of $76.86 billion, indicating changes of +45.3% and +15.4%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Boeing. These revisions help to show the ever-changing nature 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 8.1% lower. At present, Boeing boasts a Zacks Rank of #3 (Hold).
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 55, putting it in the top 22% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.