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Boeing (BA - Free Report) closed the latest trading day at $186.89, indicating a +1.38% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily gain of 1.11%. Elsewhere, the Dow gained 1.64%, while the tech-heavy Nasdaq added 1.03%.
Shares of the airplane builder witnessed a gain of 1.01% over the previous month, trailing the performance of the Aerospace sector with its gain of 3.71% and outperforming the S&P 500's loss of 1.16%.
The upcoming earnings release of Boeing will be of great interest to investors. The company's earnings report is expected on July 31, 2024. The company is forecasted to report an EPS of -$1.68, showcasing a 104.88% downward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $17.49 billion, down 11.44% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$2.27 per share and revenue of $77.33 billion, which would represent changes of +60.93% and -0.59%, respectively, from the prior year.
Any recent changes to analyst estimates for Boeing should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 35.9% lower within the past month. Boeing is currently a Zacks Rank #4 (Sell).
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 70, which puts it in the top 28% of all 250+ industries.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Why Boeing (BA) Outpaced the Stock Market Today
Boeing (BA - Free Report) closed the latest trading day at $186.89, indicating a +1.38% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily gain of 1.11%. Elsewhere, the Dow gained 1.64%, while the tech-heavy Nasdaq added 1.03%.
Shares of the airplane builder witnessed a gain of 1.01% over the previous month, trailing the performance of the Aerospace sector with its gain of 3.71% and outperforming the S&P 500's loss of 1.16%.
The upcoming earnings release of Boeing will be of great interest to investors. The company's earnings report is expected on July 31, 2024. The company is forecasted to report an EPS of -$1.68, showcasing a 104.88% downward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $17.49 billion, down 11.44% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$2.27 per share and revenue of $77.33 billion, which would represent changes of +60.93% and -0.59%, respectively, from the prior year.
Any recent changes to analyst estimates for Boeing should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 35.9% lower within the past month. Boeing is currently a Zacks Rank #4 (Sell).
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 70, which puts it in the top 28% of all 250+ industries.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.