In the latest trading session, Boeing (BA - Free Report) closed at $362.73, marking a +0.77% move from the previous day. This move lagged the S&P 500's daily gain of 1.27%. Meanwhile, the Dow gained 1.25%, and the Nasdaq, a tech-heavy index, added 1.48%.
Prior to today's trading, shares of the airplane builder had gained 5.51% over the past month. This has outpaced the Aerospace sector's gain of 1.69% and the S&P 500's loss of 4.37% in that time.
Investors will be hoping for strength from BA as it approaches its next earnings release. The company is expected to report EPS of $2.33, down 34.92% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $20.71 billion, down 17.63% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.98 per share and revenue of $85.61 billion. These totals would mark changes of -75.14% and -15.35%, respectively, from last year.
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. 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 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. Within the past 30 days, our consensus EPS projection has moved 2% higher. BA currently has a Zacks Rank of #3 (Hold).
Digging into valuation, BA currently has a Forward P/E ratio of 90.5. For comparison, its industry has an average Forward P/E of 17.97, which means BA is trading at a premium to the group.
We can also see that BA currently has a PEG ratio of 10.97. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Aerospace - Defense industry currently had an average PEG ratio of 1.79 as of yesterday's close.
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 30, which puts it in the top 12% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.