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Why Boeing (BA) Dipped More Than Broader Market Today
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In the latest trading session, Boeing (BA - Free Report) closed at $209.15, marking a -2.5% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 1.62%. Meanwhile, the Dow experienced a drop of 1.87%, and the technology-dominated Nasdaq saw a decrease of 1.98%.
The airplane builder's shares have seen a decrease of 9.44% over the last month, not keeping up with the Aerospace sector's gain of 2.43% and the S&P 500's loss of 0.03%.
The investment community will be closely monitoring the performance of Boeing in its forthcoming earnings report. On that day, Boeing is projected to report earnings of -$0.23 per share, which would represent year-over-year growth of 81.45%. Our most recent consensus estimate is calling for quarterly revenue of $23.55 billion, up 3.51% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.15 per share and revenue of $96.7 billion, which would represent changes of +98.59% and +8.09%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Boeing. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business 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.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Boeing is holding a Zacks Rank of #3 (Hold) right now.
The Aerospace - Defense industry is part of the Aerospace sector. Currently, this industry holds a Zacks Industry Rank of 109, positioning it in the top 45% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Why Boeing (BA) Dipped More Than Broader Market Today
In the latest trading session, Boeing (BA - Free Report) closed at $209.15, marking a -2.5% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 1.62%. Meanwhile, the Dow experienced a drop of 1.87%, and the technology-dominated Nasdaq saw a decrease of 1.98%.
The airplane builder's shares have seen a decrease of 9.44% over the last month, not keeping up with the Aerospace sector's gain of 2.43% and the S&P 500's loss of 0.03%.
The investment community will be closely monitoring the performance of Boeing in its forthcoming earnings report. On that day, Boeing is projected to report earnings of -$0.23 per share, which would represent year-over-year growth of 81.45%. Our most recent consensus estimate is calling for quarterly revenue of $23.55 billion, up 3.51% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.15 per share and revenue of $96.7 billion, which would represent changes of +98.59% and +8.09%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Boeing. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business 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.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Boeing is holding a Zacks Rank of #3 (Hold) right now.
The Aerospace - Defense industry is part of the Aerospace sector. Currently, this industry holds a Zacks Industry Rank of 109, positioning it in the top 45% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.