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Boeing (BA) Stock Sinks As Market Gains: Here's Why
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The most recent trading session ended with Boeing (BA - Free Report) standing at $174.99, reflecting a -1.91% shift from the previouse trading day's closing. This change lagged the S&P 500's daily gain of 0.25%. On the other hand, the Dow registered a gain of 0.15%, and the technology-centric Nasdaq increased by 0.03%.
Coming into today, shares of the airplane builder had lost 4.4% in the past month. In that same time, the Aerospace sector lost 1.2%, while the S&P 500 gained 3.34%.
Analysts and investors alike will be keeping a close eye on the performance of Boeing in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.90, showcasing a 9.76% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $18.44 billion, indicating a 6.63% decline compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$1.57 per share and a revenue of $78.48 billion, indicating changes of +72.98% and +0.88%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Boeing. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 160.2% fall in the Zacks Consensus EPS estimate. Boeing is holding a Zacks Rank of #3 (Hold) right now.
The Aerospace - Defense industry is part of the Aerospace sector. With its current Zacks Industry Rank of 96, this industry ranks in the top 39% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Boeing (BA) Stock Sinks As Market Gains: Here's Why
The most recent trading session ended with Boeing (BA - Free Report) standing at $174.99, reflecting a -1.91% shift from the previouse trading day's closing. This change lagged the S&P 500's daily gain of 0.25%. On the other hand, the Dow registered a gain of 0.15%, and the technology-centric Nasdaq increased by 0.03%.
Coming into today, shares of the airplane builder had lost 4.4% in the past month. In that same time, the Aerospace sector lost 1.2%, while the S&P 500 gained 3.34%.
Analysts and investors alike will be keeping a close eye on the performance of Boeing in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.90, showcasing a 9.76% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $18.44 billion, indicating a 6.63% decline compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$1.57 per share and a revenue of $78.48 billion, indicating changes of +72.98% and +0.88%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Boeing. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 160.2% fall in the Zacks Consensus EPS estimate. Boeing is holding a Zacks Rank of #3 (Hold) right now.
The Aerospace - Defense industry is part of the Aerospace sector. With its current Zacks Industry Rank of 96, this industry ranks in the top 39% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.