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Boeing (BA) Advances While Market Declines: Some Information for Investors
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Boeing (BA - Free Report) closed the most recent trading day at $205.47, moving +1.78% from the previous trading session. This change outpaced the S&P 500's 0.07% loss on the day. Elsewhere, the Dow saw an upswing of 0.16%, while the tech-heavy Nasdaq depreciated by 0.36%.
Coming into today, shares of the airplane builder had lost 22.46% in the past month. In that same time, the Aerospace sector lost 3.77%, while the S&P 500 gained 3.05%.
Analysts and investors alike will be keeping a close eye on the performance of Boeing in its upcoming earnings disclosure. The company's earnings report is set to go public on January 31, 2024. The company's upcoming EPS is projected at -$0.72, signifying a 58.86% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $21.23 billion, reflecting a 6.24% rise from the equivalent quarter last year.
Investors might also notice recent changes to analyst estimates for Boeing. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 8.18% lower. Boeing is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, Boeing is presently trading at a Forward P/E ratio of 57.69. For comparison, its industry has an average Forward P/E of 16.87, which means Boeing is trading at a premium to the group.
It's also important to note that BA currently trades at a PEG ratio of 14.42. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Aerospace - Defense industry currently had an average PEG ratio of 1.9 as of yesterday's close.
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 102, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
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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Boeing (BA) Advances While Market Declines: Some Information for Investors
Boeing (BA - Free Report) closed the most recent trading day at $205.47, moving +1.78% from the previous trading session. This change outpaced the S&P 500's 0.07% loss on the day. Elsewhere, the Dow saw an upswing of 0.16%, while the tech-heavy Nasdaq depreciated by 0.36%.
Coming into today, shares of the airplane builder had lost 22.46% in the past month. In that same time, the Aerospace sector lost 3.77%, while the S&P 500 gained 3.05%.
Analysts and investors alike will be keeping a close eye on the performance of Boeing in its upcoming earnings disclosure. The company's earnings report is set to go public on January 31, 2024. The company's upcoming EPS is projected at -$0.72, signifying a 58.86% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $21.23 billion, reflecting a 6.24% rise from the equivalent quarter last year.
Investors might also notice recent changes to analyst estimates for Boeing. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 8.18% lower. Boeing is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, Boeing is presently trading at a Forward P/E ratio of 57.69. For comparison, its industry has an average Forward P/E of 16.87, which means Boeing is trading at a premium to the group.
It's also important to note that BA currently trades at a PEG ratio of 14.42. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Aerospace - Defense industry currently had an average PEG ratio of 1.9 as of yesterday's close.
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 102, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.