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Why the Market Dipped But Boeing (BA) Gained Today
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Boeing (BA - Free Report) closed the latest trading day at $244.94, indicating a +0.42% change from the previous session's end. The stock outpaced the S&P 500's daily loss of 0.34%. Meanwhile, the Dow gained 0.03%, and the Nasdaq, a tech-heavy index, lost 0.56%.
Coming into today, shares of the airplane builder had gained 2.96% in the past month. In that same time, the Aerospace sector gained 2.48%, while the S&P 500 gained 2.56%.
Market participants will be closely following the financial results of Boeing in its upcoming release. The company is expected to report EPS of -$0.75, up 57.14% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $21.08 billion, up 5.5% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Boeing. These revisions help to show the ever-changing nature 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 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been an 8.03% rise in the Zacks Consensus EPS estimate. Boeing is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Boeing is presently being traded at a Forward P/E ratio of 63.99. This signifies a premium in comparison to the average Forward P/E of 16.11 for its industry.
We can additionally observe that BA currently boasts a PEG ratio of 16. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Aerospace - Defense stocks are, on average, holding a PEG ratio of 1.85 based on yesterday's closing prices.
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 82, putting it in the top 33% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Why the Market Dipped But Boeing (BA) Gained Today
Boeing (BA - Free Report) closed the latest trading day at $244.94, indicating a +0.42% change from the previous session's end. The stock outpaced the S&P 500's daily loss of 0.34%. Meanwhile, the Dow gained 0.03%, and the Nasdaq, a tech-heavy index, lost 0.56%.
Coming into today, shares of the airplane builder had gained 2.96% in the past month. In that same time, the Aerospace sector gained 2.48%, while the S&P 500 gained 2.56%.
Market participants will be closely following the financial results of Boeing in its upcoming release. The company is expected to report EPS of -$0.75, up 57.14% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $21.08 billion, up 5.5% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Boeing. These revisions help to show the ever-changing nature 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 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been an 8.03% rise in the Zacks Consensus EPS estimate. Boeing is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Boeing is presently being traded at a Forward P/E ratio of 63.99. This signifies a premium in comparison to the average Forward P/E of 16.11 for its industry.
We can additionally observe that BA currently boasts a PEG ratio of 16. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Aerospace - Defense stocks are, on average, holding a PEG ratio of 1.85 based on yesterday's closing prices.
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 82, putting it in the top 33% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.