In the latest trading session, Boeing (BA - Free Report) closed at $386.47, marking a -0.9% move from the previous day. This move lagged the S&P 500's daily loss of 0.55%. Meanwhile, the Dow lost 0.68%, and the Nasdaq, a tech-heavy index, lost 1.16%.
Prior to today's trading, shares of the airplane builder had gained 11.02% over the past month. This has outpaced the Aerospace sector's gain of 7.18% and the S&P 500's gain of 0.37% in that time.
Wall Street will be looking for positivity from BA as it approaches its next earnings report date. This is expected to be October 24, 2018. On that day, BA is projected to report earnings of $3.45 per share, which would represent year-over-year growth of 26.84%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $23.92 billion, down 1.58% from the year-ago period.
BA's full-year Zacks Consensus Estimates are calling for earnings of $14.60 per share and revenue of $98.73 billion. These results would represent year-over-year changes of +21.26% and +5.71%, respectively.
Investors might also notice recent changes to analyst estimates for BA. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.22% lower. BA is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that BA has a Forward P/E ratio of 26.72 right now. Its industry sports an average Forward P/E of 18.88, 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 1.94. 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 1.79 based on yesterday's closing prices.
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 85, putting it in the top 33% 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.
To follow BA in the coming trading sessions, be sure to utilize Zacks.com.