In the latest trading session, Boeing (BA - Free Report) closed at $345.25, marking a +0.99% move from the previous day. This change outpaced the S&P 500's 0.37% gain on the day. At the same time, the Dow added 0.44%, and the tech-heavy Nasdaq gained 0.61%.
Heading into today, shares of the airplane builder had gained 1.03% over the past month, lagging the Aerospace sector's gain of 2.57% and the S&P 500's gain of 1.82% in that time.
BA will be looking to display strength as it nears its next earnings release, which is expected to be October 24, 2018. The company is expected to report EPS of $3.55, up 30.51% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $24.36 billion, up 0.21% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $14.63 per share and revenue of $98.85 billion. These totals would mark changes of +21.51% and +5.84%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for BA. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.01% higher. BA is currently a Zacks Rank #3 (Hold).
Digging into valuation, BA currently has a Forward P/E ratio of 23.36. This valuation marks a premium compared to its industry's average Forward P/E of 18.51.
It is also worth noting that BA currently has a PEG ratio of 1.7. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Aerospace - Defense industry currently had an average PEG ratio of 1.68 as of yesterday's close.
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 61, putting it in the top 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.