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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 most recent trading day at $214.69, moving -1.18% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 1.18%. At the same time, the Dow added 0.59%, and the tech-heavy Nasdaq gained 2.07%.
Shares of the airplane builder witnessed a loss of 6.01% over the previous month, trailing the performance of the Aerospace sector with its gain of 1.38%, and the S&P 500's loss of 2.9%.
Market participants will be closely following the financial results of Boeing in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.25, reflecting a 79.84% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $23.55 billion, up 3.51% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of -$0.15 per share and a revenue of $96.7 billion, demonstrating changes of +98.59% and +8.09%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Boeing. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Within the past 30 days, our consensus EPS projection remained stagnant. Boeing presently features a Zacks Rank of #3 (Hold).
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 110, putting it in the top 46% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
View the Zacks #1 Rank List
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Boeing (BA) Stock Drops Despite Market Gains: Important Facts to Note
Boeing (BA - Free Report) closed the most recent trading day at $214.69, moving -1.18% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 1.18%. At the same time, the Dow added 0.59%, and the tech-heavy Nasdaq gained 2.07%.
Shares of the airplane builder witnessed a loss of 6.01% over the previous month, trailing the performance of the Aerospace sector with its gain of 1.38%, and the S&P 500's loss of 2.9%.
Market participants will be closely following the financial results of Boeing in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.25, reflecting a 79.84% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $23.55 billion, up 3.51% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of -$0.15 per share and a revenue of $96.7 billion, demonstrating changes of +98.59% and +8.09%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Boeing. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Within the past 30 days, our consensus EPS projection remained stagnant. Boeing presently features a Zacks Rank of #3 (Hold).
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 110, putting it in the top 46% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.