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Boeing (BA) Stock Drops Despite Market Gains: Important Facts to Note
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The most recent trading session ended with Boeing (BA - Free Report) standing at $183.14, reflecting a -0.08% shift from the previouse trading day's closing. This change lagged the S&P 500's daily gain of 1.11%. At the same time, the Dow added 0.8%, and the tech-heavy Nasdaq gained 1.24%.
Heading into today, shares of the airplane builder had lost 9.72% over the past month, lagging the Aerospace sector's gain of 1.79% and the S&P 500's gain of 0.48% in that time.
The upcoming earnings release of Boeing will be of great interest to investors. The company's earnings report is expected on April 24, 2024. In that report, analysts expect Boeing to post earnings of -$1.08 per share. This would mark year-over-year growth of 14.96%. Our most recent consensus estimate is calling for quarterly revenue of $19.37 billion, up 8.06% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1 per share and revenue of $87.09 billion, indicating changes of +117.21% and +11.95%, respectively, compared to the previous 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. As a result, we can interpret positive estimate revisions as a good sign for 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 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 60.92% lower within the past month. As of now, Boeing holds a Zacks Rank of #5 (Strong Sell).
With respect to valuation, Boeing is currently being traded at a Forward P/E ratio of 184.08. This indicates a premium in contrast to its industry's Forward P/E of 18.43.
Meanwhile, BA's PEG ratio is currently 46.02. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Aerospace - Defense industry held an average PEG ratio of 1.86.
The Aerospace - Defense industry is part of the Aerospace sector. This industry, currently bearing a Zacks Industry Rank of 145, finds itself in the bottom 43% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 Drops Despite Market Gains: Important Facts to Note
The most recent trading session ended with Boeing (BA - Free Report) standing at $183.14, reflecting a -0.08% shift from the previouse trading day's closing. This change lagged the S&P 500's daily gain of 1.11%. At the same time, the Dow added 0.8%, and the tech-heavy Nasdaq gained 1.24%.
Heading into today, shares of the airplane builder had lost 9.72% over the past month, lagging the Aerospace sector's gain of 1.79% and the S&P 500's gain of 0.48% in that time.
The upcoming earnings release of Boeing will be of great interest to investors. The company's earnings report is expected on April 24, 2024. In that report, analysts expect Boeing to post earnings of -$1.08 per share. This would mark year-over-year growth of 14.96%. Our most recent consensus estimate is calling for quarterly revenue of $19.37 billion, up 8.06% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1 per share and revenue of $87.09 billion, indicating changes of +117.21% and +11.95%, respectively, compared to the previous 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. As a result, we can interpret positive estimate revisions as a good sign for 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 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 60.92% lower within the past month. As of now, Boeing holds a Zacks Rank of #5 (Strong Sell).
With respect to valuation, Boeing is currently being traded at a Forward P/E ratio of 184.08. This indicates a premium in contrast to its industry's Forward P/E of 18.43.
Meanwhile, BA's PEG ratio is currently 46.02. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Aerospace - Defense industry held an average PEG ratio of 1.86.
The Aerospace - Defense industry is part of the Aerospace sector. This industry, currently bearing a Zacks Industry Rank of 145, finds itself in the bottom 43% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.