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Boeing (BA) Gains But Lags Market: What You Should Know
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In the latest trading session, Boeing (BA - Free Report) closed at $190.19, marking a +0.63% move from the previous day. This change lagged the S&P 500's 1.24% gain on the day. Elsewhere, the Dow gained 1.23%, while the tech-heavy Nasdaq added 0.15%.
Coming into today, shares of the airplane builder had lost 13.68% in the past month. In that same time, the Aerospace sector gained 1.32%, while the S&P 500 lost 2.45%.
Investors will be hoping for strength from Boeing as it approaches its next earnings release. On that day, Boeing is projected to report earnings of $0.07 per share, which would represent year-over-year growth of 104.58%. Meanwhile, our latest consensus estimate is calling for revenue of $18.36 billion, up 20.66% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.51 per share and revenue of $83.63 billion, which would represent changes of +137.18% and +34.27%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Boeing. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.19% lower. Boeing is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Boeing is currently trading at a Forward P/E ratio of 53.84. For comparison, its industry has an average Forward P/E of 18.3, which means Boeing is trading at a premium to the group.
Investors should also note that BA has a PEG ratio of 13.46 right now. 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 2.77 as of yesterday's close.
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 101, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
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Boeing (BA) Gains But Lags Market: What You Should Know
In the latest trading session, Boeing (BA - Free Report) closed at $190.19, marking a +0.63% move from the previous day. This change lagged the S&P 500's 1.24% gain on the day. Elsewhere, the Dow gained 1.23%, while the tech-heavy Nasdaq added 0.15%.
Coming into today, shares of the airplane builder had lost 13.68% in the past month. In that same time, the Aerospace sector gained 1.32%, while the S&P 500 lost 2.45%.
Investors will be hoping for strength from Boeing as it approaches its next earnings release. On that day, Boeing is projected to report earnings of $0.07 per share, which would represent year-over-year growth of 104.58%. Meanwhile, our latest consensus estimate is calling for revenue of $18.36 billion, up 20.66% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.51 per share and revenue of $83.63 billion, which would represent changes of +137.18% and +34.27%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Boeing. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.19% lower. Boeing is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Boeing is currently trading at a Forward P/E ratio of 53.84. For comparison, its industry has an average Forward P/E of 18.3, which means Boeing is trading at a premium to the group.
Investors should also note that BA has a PEG ratio of 13.46 right now. 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 2.77 as of yesterday's close.
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 101, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.