Boeing (BA) Stock Sinks As Market Gains: Here's Why

Boeing (BA) closed at $203.75 in the latest trading session, marking a -4.79% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.38%. Elsewhere, the Dow gained 0.24%, while the tech-heavy Nasdaq added 0.24%. Prior to today's trading, shares of the airplane builder had gained 4.53% lagged the Aerospace sector's gain of 8.73% and the S&P 500's gain of 6.6%.The investment community will be paying close attention to the earnings performance of Boeing in its upcoming release. It is anticipated that the company will report an EPS of -$0.85, marking a 70.69% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $19.91 billion, indicating a 18.06% upward movement from the same quarter last year. For the annual period, the Zacks Consensus Estimates anticipate earnings of -$1.75 per share and a revenue of $83.56 billion, signifying shifts of +91.41% and +25.63%, respectively, from the last year. It's also important for investors to be aware of any recent modifications to analyst estimates for Boeing. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook. Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 11.06% higher. Boeing is holding a Zacks Rank of #3 (Hold) right now. The Aerospace - Defense industry is part of the Aerospace sector. At present, this industry carries a Zacks Industry Rank of 71, placing it within the top 29% of over 250 industries. The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. You can find more information on all of these metrics, and much more, on Zacks.com. 5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Boeing Company (BA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks