In the latest trading session, Boeing (BA - Free Report) closed at $345.68, marking a -0.91% move from the previous day. This change lagged the S&P 500's 0.15% gain on the day. Meanwhile, the Dow gained 0.1%, and the Nasdaq, a tech-heavy index, added 0.05%.
Heading into today, shares of the airplane builder had lost 1.51% over the past month, lagging the Aerospace sector's gain of 1.26% and the S&P 500's gain of 1.32% 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 $2.05 per share. This would mark a year-over-year decline of 62.59%. Meanwhile, our latest consensus estimate is calling for revenue of $21.80 billion, down 23.09% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.05 per share and revenue of $80.45 billion, which would represent changes of -93.44% and -20.45%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for BA. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. The Zacks Consensus EPS estimate has moved 3.74% higher within the past month. BA is currently a Zacks Rank #3 (Hold).
Investors should also note BA's current valuation metrics, including its Forward P/E ratio of 330.88. This represents a premium compared to its industry's average Forward P/E of 17.94.
It is also worth noting that BA currently has a PEG ratio of 40.5. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Aerospace - Defense industry currently had an average PEG ratio of 2.07 as of yesterday's close.
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 43, which puts it in the top 17% 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.