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Boeing (BA) Stock Drops Despite Market Gains: Important Facts to Note
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Boeing (BA - Free Report) closed at $211.50 in the latest trading session, marking a -1.6% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.29%. Meanwhile, the Dow lost 0.25%, and the Nasdaq, a tech-heavy index, added 0.43%.
Shares of the airplane builder witnessed a loss of 17.47% over the previous month, trailing the performance of the Aerospace sector with its loss of 3% and the S&P 500's gain of 2.08%.
The investment community will be closely monitoring the performance of Boeing in its forthcoming earnings report. The company is scheduled to release its earnings on January 31, 2024. The company's upcoming EPS is projected at -$0.72, signifying a 58.86% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $21.23 billion, indicating a 6.24% upward movement from the same quarter last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Boeing. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 7.99% lower. At present, Boeing boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, Boeing is currently exchanging hands at a Forward P/E ratio of 61.29. This valuation marks a premium compared to its industry's average Forward P/E of 16.67.
Meanwhile, BA's PEG ratio is currently 15.32. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Aerospace - Defense stocks are, on average, holding a PEG ratio of 1.83 based on yesterday's closing prices.
The Aerospace - Defense industry is part of the Aerospace sector. With its current Zacks Industry Rank of 103, this industry ranks in the top 41% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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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Boeing (BA) Stock Drops Despite Market Gains: Important Facts to Note
Boeing (BA - Free Report) closed at $211.50 in the latest trading session, marking a -1.6% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.29%. Meanwhile, the Dow lost 0.25%, and the Nasdaq, a tech-heavy index, added 0.43%.
Shares of the airplane builder witnessed a loss of 17.47% over the previous month, trailing the performance of the Aerospace sector with its loss of 3% and the S&P 500's gain of 2.08%.
The investment community will be closely monitoring the performance of Boeing in its forthcoming earnings report. The company is scheduled to release its earnings on January 31, 2024. The company's upcoming EPS is projected at -$0.72, signifying a 58.86% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $21.23 billion, indicating a 6.24% upward movement from the same quarter last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Boeing. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 7.99% lower. At present, Boeing boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, Boeing is currently exchanging hands at a Forward P/E ratio of 61.29. This valuation marks a premium compared to its industry's average Forward P/E of 16.67.
Meanwhile, BA's PEG ratio is currently 15.32. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Aerospace - Defense stocks are, on average, holding a PEG ratio of 1.83 based on yesterday's closing prices.
The Aerospace - Defense industry is part of the Aerospace sector. With its current Zacks Industry Rank of 103, this industry ranks in the top 41% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.