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Boeing (BA) Suffers a Larger Drop Than the General Market: Key Insights
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Boeing (BA - Free Report) closed the latest trading day at $146.62, indicating a -1.84% change from the previous session's end. The stock's performance was behind the S&P 500's daily loss of 0.21%. Elsewhere, the Dow saw a downswing of 0.14%, while the tech-heavy Nasdaq depreciated by 0.05%.
The the stock of airplane builder has fallen by 7.41% in the past month, lagging the Aerospace sector's gain of 0.27% and the S&P 500's gain of 5.94%.
The upcoming earnings release of Boeing will be of great interest to investors. The company's earnings report is expected on October 23, 2024. The company's upcoming EPS is projected at -$1.44, signifying a 55.83% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $19.25 billion, indicating a 6.33% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$5.49 per share and revenue of $74.06 billion, which would represent changes of +5.51% and -4.8%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Boeing. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. The Zacks Consensus EPS estimate has moved 26.12% lower within the past month. Boeing is currently a Zacks Rank #3 (Hold).
The Aerospace - Defense industry is part of the Aerospace sector. This industry, currently bearing a Zacks Industry Rank of 33, finds itself in the top 14% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Boeing (BA) Suffers a Larger Drop Than the General Market: Key Insights
Boeing (BA - Free Report) closed the latest trading day at $146.62, indicating a -1.84% change from the previous session's end. The stock's performance was behind the S&P 500's daily loss of 0.21%. Elsewhere, the Dow saw a downswing of 0.14%, while the tech-heavy Nasdaq depreciated by 0.05%.
The the stock of airplane builder has fallen by 7.41% in the past month, lagging the Aerospace sector's gain of 0.27% and the S&P 500's gain of 5.94%.
The upcoming earnings release of Boeing will be of great interest to investors. The company's earnings report is expected on October 23, 2024. The company's upcoming EPS is projected at -$1.44, signifying a 55.83% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $19.25 billion, indicating a 6.33% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$5.49 per share and revenue of $74.06 billion, which would represent changes of +5.51% and -4.8%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Boeing. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. The Zacks Consensus EPS estimate has moved 26.12% lower within the past month. Boeing is currently a Zacks Rank #3 (Hold).
The Aerospace - Defense industry is part of the Aerospace sector. This industry, currently bearing a Zacks Industry Rank of 33, finds itself in the top 14% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.