Boeing (BA) closed at $167.53 in the latest trading session, marking a +0.04% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.84%. At the same time, the Dow lost 0.47%, and the tech-heavy Nasdaq lost 1.27%.
Heading into today, shares of the airplane builder had lost 1.07% over the past month, outpacing the Aerospace sector's loss of 1.59% and lagging the S&P 500's gain of 0.6% in that time.
BA will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$2.24, down 254.48% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $14.56 billion, down 27.11% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$10.10 per share and revenue of $58.98 billion. These totals would mark changes of -191.07% and -22.97%, respectively, from last 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. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.03% lower. BA currently has a Zacks Rank of #4 (Sell).
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 228, putting it in the bottom 11% 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.
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The Boeing Company (BA): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.