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Boeing (BA) Stock Moves -0.14%: What You Should Know

Zacks Equity Research
·2 min read

Boeing (BA) closed the most recent trading day at $167.11, moving -0.14% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.63%. Meanwhile, the Dow lost 1.44%, and the Nasdaq, a tech-heavy index, lost 1.65%.

Prior to today's trading, shares of the airplane builder had lost 0.11% over the past month. This has was narrower than the Aerospace sector's loss of 2.12% and lagged the S&P 500's gain of 2.86% in that time.

Wall Street will be looking for positivity from BA as it approaches its next earnings report date. This is expected to be October 28, 2020. The company is expected to report EPS of -$2.23, down 253.79% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $14.14 billion, down 29.24% from the prior-year quarter.

BA's full-year Zacks Consensus Estimates are calling for earnings of -$10.25 per share and revenue of $58.09 billion. These results would represent year-over-year changes of -195.39% and -24.12%, respectively.

It is also important to note the recent changes to analyst estimates for BA. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.48% lower. BA currently has a Zacks Rank of #4 (Sell).

The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 168, which puts it in the bottom 34% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

To follow BA in the coming trading sessions, be sure to utilize Zacks.com.


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