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Boeing (BA) Stock Drops Despite Market Gains: Important Facts to Note

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Boeing (BA - Free Report) closed the latest trading day at $182.67, indicating a -1.53% change from the previous session's end. The stock's change was less than the S&P 500's daily gain of 0.85%. Elsewhere, the Dow saw a downswing of 0.09%, while the tech-heavy Nasdaq appreciated by 1.53%.

The airplane builder's shares have seen an increase of 2.62% over the last month, surpassing the Aerospace sector's loss of 0.65% and falling behind the S&P 500's gain of 3.11%.

Market participants will be closely following the financial results of Boeing in its upcoming release. It is anticipated that the company will report an EPS of -$0.82, marking stability compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $18.84 billion, indicating a 4.62% decrease compared to the same quarter of the previous year.

BA's full-year Zacks Consensus Estimates are calling for earnings of -$1.33 per share and revenue of $79.4 billion. These results would represent year-over-year changes of +77.11% and +2.07%, respectively.

Investors should also note any recent changes to analyst estimates for Boeing. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the past month, the Zacks Consensus EPS estimate has moved 455.86% lower. Boeing is holding a Zacks Rank of #3 (Hold) right now.

The Aerospace - Defense industry is part of the Aerospace sector. At present, this industry carries a Zacks Industry Rank of 92, placing it within the top 37% of over 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.

Don't forget to use to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

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