Back to top

Image: Bigstock

Boeing (BA) Stock Moves -0.2%: What You Should Know

Read MoreHide Full Article

Boeing (BA - Free Report) ended the recent trading session at $170.21, demonstrating a -0.2% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a loss of 0.58% for the day. On the other hand, the Dow registered a loss of 0.12%, and the technology-centric Nasdaq decreased by 1.15%.

Shares of the airplane builder witnessed a loss of 5.85% over the previous month, trailing the performance of the Aerospace sector with its loss of 4.9% and the S&P 500's loss of 1.09%.

The investment community will be closely monitoring the performance of Boeing in its forthcoming earnings report. The company is scheduled to release its earnings on April 24, 2024. It is anticipated that the company will report an EPS of -$1.38, marking an 8.66% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $17.98 billion, indicating a 0.36% growth compared to the corresponding quarter of the prior year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.37 per share and a revenue of $85.24 billion, signifying shifts of +106.37% and +9.57%, respectively, from the last year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Boeing. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 84.27% lower within the past month. As of now, Boeing holds a Zacks Rank of #5 (Strong Sell).

Valuation is also important, so investors should note that Boeing has a Forward P/E ratio of 465.56 right now. Its industry sports an average Forward P/E of 17.83, so one might conclude that Boeing is trading at a premium comparatively.

It is also worth noting that BA currently has a PEG ratio of 116.39. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. BA's industry had an average PEG ratio of 1.83 as of yesterday's close.

The Aerospace - Defense industry is part of the Aerospace sector. At present, this industry carries a Zacks Industry Rank of 98, placing it within the top 39% of over 250 industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

See More Zacks Research for These Tickers

Normally $25 each - click below to receive one report FREE:

The Boeing Company (BA) - free report >>

Published in