Boeing (BA) Suffers Bigger Decline Than Overall Market: Key Takeaways

Boeing (BA) closed the most recent trading day at $146.62, marking a change of -1.84% from the end of the previous session. The stock's performance lagged the S&P 500's daily loss of 0.21%. Elsewhere, the Dow fell 0.14%, while the tech-heavy Nasdaq fell 0.05%.

The aircraft maker's shares have fallen 7.41% over the past month, underperforming the Aerospace sector's gain of 0.27% and the S&P 500's gain of 5.94%.

Boeing's upcoming earnings release will be of great interest to investors. The company's earnings report is expected on October 23, 2024. The company's upcoming EPS is forecast at -$1.44, an increase of 55.83% compared to the prior-year quarter. Meanwhile, our current consensus estimate is calling for revenue of $19.25 billion, representing growth of 6.33% compared to the corresponding quarter last year.

For the full year, the Zacks Consensus Estimates are projecting earnings of -$5.49 per share and revenue of $74.06 billion, representing changes of +5.51% and -4.8%, respectively would correspond to the previous year.

Investors should also pay attention to recent changes to analyst estimates for Boeing. These recent revisions tend to reflect the evolving nature of near-term business trends. As a result, upward estimate revisions reflect analysts' positive view on the company's operations and ability to generate profits.

Our research shows that these estimate changes are directly correlated with near-term share price performance. To take advantage of this, we have developed the Zacks Rank, a proprietary model that integrates these estimate revisions 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 generating an average annual return of +25% since 1988 achieved. The Zacks Consensus EPS estimate has fallen 26.12% over the past month. Boeing is currently a Zacks Rank #3 (Hold).

The aerospace and defense industry is part of the aerospace sector. Currently sporting a Zacks Industry Rank of 33, this industry ranks in the top 14% of 250+ industries.

The Zacks Industry Rank evaluates the strength of our individual industry groups by calculating the average Zacks Rank of the individual stocks within the groups. Our research shows that the top rated 50% of industries outperform the bottom half by a factor of 2 to 1.

Remember to use Zacks.com to track these and other stock-moving metrics during the coming trading sessions.

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