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Boeing (BA) Beats Stock Market Upswing: What Investors Need to Know
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Boeing (BA - Free Report) closed at $227.84 in the latest trading session, marking a +0.92% move from the prior day. This change outpaced the S&P 500's 0.57% gain on the day. On the other hand, the Dow registered a gain of 0.46%, and the technology-centric Nasdaq increased by 0.75%.
Shares of the airplane builder witnessed a loss of 9.2% over the previous month, trailing the performance of the Aerospace sector with its loss of 0.64% and the S&P 500's gain of 3.4%.
Analysts and investors alike will be keeping a close eye on the performance of Boeing in its upcoming earnings disclosure. The company's earnings report is set to go public on January 31, 2024. On that day, Boeing is projected to report earnings of -$0.75 per share, which would represent year-over-year growth of 57.14%. Our most recent consensus estimate is calling for quarterly revenue of $21.08 billion, up 5.5% from the year-ago period.
Any recent changes to analyst estimates for Boeing should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 9.52% higher within the past month. Boeing is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Boeing is currently exchanging hands at a Forward P/E ratio of 59.23. Its industry sports an average Forward P/E of 16.26, so one might conclude that Boeing is trading at a premium comparatively.
It's also important to note that BA currently trades at a PEG ratio of 14.81. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Aerospace - Defense industry currently had an average PEG ratio of 1.84 as of yesterday's close.
The Aerospace - Defense industry is part of the Aerospace sector. This industry, currently bearing a Zacks Industry Rank of 153, finds itself in the bottom 40% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Boeing (BA) Beats Stock Market Upswing: What Investors Need to Know
Boeing (BA - Free Report) closed at $227.84 in the latest trading session, marking a +0.92% move from the prior day. This change outpaced the S&P 500's 0.57% gain on the day. On the other hand, the Dow registered a gain of 0.46%, and the technology-centric Nasdaq increased by 0.75%.
Shares of the airplane builder witnessed a loss of 9.2% over the previous month, trailing the performance of the Aerospace sector with its loss of 0.64% and the S&P 500's gain of 3.4%.
Analysts and investors alike will be keeping a close eye on the performance of Boeing in its upcoming earnings disclosure. The company's earnings report is set to go public on January 31, 2024. On that day, Boeing is projected to report earnings of -$0.75 per share, which would represent year-over-year growth of 57.14%. Our most recent consensus estimate is calling for quarterly revenue of $21.08 billion, up 5.5% from the year-ago period.
Any recent changes to analyst estimates for Boeing should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 9.52% higher within the past month. Boeing is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Boeing is currently exchanging hands at a Forward P/E ratio of 59.23. Its industry sports an average Forward P/E of 16.26, so one might conclude that Boeing is trading at a premium comparatively.
It's also important to note that BA currently trades at a PEG ratio of 14.81. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Aerospace - Defense industry currently had an average PEG ratio of 1.84 as of yesterday's close.
The Aerospace - Defense industry is part of the Aerospace sector. This industry, currently bearing a Zacks Industry Rank of 153, finds itself in the bottom 40% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.