Boeing (BA) closed at $175.66 in the latest trading session, marking a -1.7% move from the prior day. This move lagged the S&P 500's daily gain of 0.29%. Meanwhile, the Dow lost 0.24%, and the Nasdaq, a tech-heavy index, added 0.28%.
Heading into today, shares of the airplane builder had lost 7.07% over the past month, outpacing the Aerospace sector's loss of 7.96% and lagging the S&P 500's gain of 2.96% 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 July 29, 2020. On that day, BA is projected to report earnings of -$2.93 per share, which would represent a year-over-year decline of 200.34%. Meanwhile, our latest consensus estimate is calling for revenue of $12.61 billion, down 19.96% from the prior-year quarter.
BA's full-year Zacks Consensus Estimates are calling for earnings of -$6.26 per share and revenue of $63.28 billion. These results would represent year-over-year changes of -80.4% and -17.34%, respectively.
Any recent changes to analyst estimates for BA should also be noted by investors. 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. 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 12.47% lower. BA is holding a Zacks Rank of #4 (Sell) right now.
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 211, putting it in the bottom 17% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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