In the latest trading session, Boeing (BA - Free Report) closed at $349.85, marking a +0.3% move from the previous day. This move outpaced the S&P 500's daily gain of 0.21%. Meanwhile, the Dow gained 0.17%, and the Nasdaq, a tech-heavy index, added 0.27%.
Heading into today, shares of the airplane builder had lost 7.43% over the past month, lagging the Aerospace sector's loss of 2.13% and the S&P 500's loss of 5.26% in that time.
Wall Street will be looking for positivity from BA as it approaches its next earnings report date. In that report, analysts expect BA to post earnings of $1.81 per share. This would mark a year-over-year decline of 45.65%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $19.48 billion, down 19.69% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $14.43 per share and revenue of $98.87 billion. These totals would mark changes of -9.87% and -2.23%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for BA. These revisions help to show the ever-changing nature of near-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. 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 1.52% 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 24.16. For comparison, its industry has an average Forward P/E of 15.78, which means BA is trading at a premium to the group.
Investors should also note that BA has a PEG ratio of 2.16 right now. 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 was holding an average PEG ratio of 1.73 at yesterday's closing price.
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 68, which puts it in the top 27% 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.