Boeing (BA - Free Report) closed the most recent trading day at $365.03, moving -0.6% from the previous trading session. This move lagged the S&P 500's daily loss of 0.33%. At the same time, the Dow lost 0.4%, and the tech-heavy Nasdaq lost 0.21%.
Prior to today's trading, shares of the airplane builder had gained 4.56% over the past month. This has lagged the Aerospace sector's gain of 5.07% and outpaced the S&P 500's gain of 1.6% 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. On that day, BA is projected to report earnings of $3.49 per share, which would represent year-over-year growth of 28.31%. Our most recent consensus estimate is calling for quarterly revenue of $24.25 billion, down 0.22% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $14.60 per share and revenue of $98.73 billion, which would represent changes of +21.26% and +5.71%, respectively, from the prior year.
Any recent changes to analyst estimates for BA should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 has moved 0.22% lower. BA currently has a Zacks Rank of #3 (Hold).
Investors should also note BA's current valuation metrics, including its Forward P/E ratio of 25.16. Its industry sports an average Forward P/E of 18.67, so we one might conclude that BA is trading at a premium comparatively.
We can also see that BA currently has a PEG ratio of 1.83. 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. Aerospace - Defense stocks are, on average, holding a PEG ratio of 1.75 based on yesterday's closing prices.
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 69, putting it in the top 27% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.