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Boeing (BA) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Boeing (BA - Free Report) closed at $205.03, marking a +1.65% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.33%. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq added 1.92%.
Coming into today, shares of the airplane builder had gained 0.33% in the past month. In that same time, the Aerospace sector gained 4.21%, while the S&P 500 gained 5.67%.
Boeing will be looking to display strength as it nears its next earnings release, which is expected to be April 26, 2023. The company is expected to report EPS of -$0.81, up 70.55% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $17.67 billion, up 26.28% from the prior-year quarter.
BA's full-year Zacks Consensus Estimates are calling for earnings of $0.16 per share and revenue of $80.07 billion. These results would represent year-over-year changes of +101.45% and +20.22%, respectively.
Investors might also notice recent changes to analyst estimates for Boeing. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. The Zacks Consensus EPS estimate has moved 52.83% lower within the past month. Boeing currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Boeing currently has a Forward P/E ratio of 1231.82. This represents a premium compared to its industry's average Forward P/E of 17.94.
Also, we should mention that BA has a PEG ratio of 307.95. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Aerospace - Defense stocks are, on average, holding a PEG ratio of 1.97 based on yesterday's closing prices.
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 57, which puts it in the top 23% 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.
To follow BA in the coming trading sessions, be sure to utilize Zacks.com.
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Boeing (BA) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Boeing (BA - Free Report) closed at $205.03, marking a +1.65% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.33%. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq added 1.92%.
Coming into today, shares of the airplane builder had gained 0.33% in the past month. In that same time, the Aerospace sector gained 4.21%, while the S&P 500 gained 5.67%.
Boeing will be looking to display strength as it nears its next earnings release, which is expected to be April 26, 2023. The company is expected to report EPS of -$0.81, up 70.55% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $17.67 billion, up 26.28% from the prior-year quarter.
BA's full-year Zacks Consensus Estimates are calling for earnings of $0.16 per share and revenue of $80.07 billion. These results would represent year-over-year changes of +101.45% and +20.22%, respectively.
Investors might also notice recent changes to analyst estimates for Boeing. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. The Zacks Consensus EPS estimate has moved 52.83% lower within the past month. Boeing currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Boeing currently has a Forward P/E ratio of 1231.82. This represents a premium compared to its industry's average Forward P/E of 17.94.
Also, we should mention that BA has a PEG ratio of 307.95. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Aerospace - Defense stocks are, on average, holding a PEG ratio of 1.97 based on yesterday's closing prices.
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 57, which puts it in the top 23% 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.
To follow BA in the coming trading sessions, be sure to utilize Zacks.com.