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In the latest trading session, Boeing (BA) closed at $173.36, marking a -0.73% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.74% for the day. Meanwhile, the Dow experienced a drop of 0.01%, and the technology-dominated Nasdaq saw an increase of 1.68%.

Heading into today, shares of the airplane builder had lost 4.23% over the past month, outpacing the Aerospace sector's loss of 4.98% and lagging the S&P 500's gain of 0.8% in that time.

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 April 24, 2024. It is anticipated that the company will report an EPS of -$1.09, marking a 14.17% rise compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $18.91 billion, up 5.5% from the prior-year quarter.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.75 per share and a revenue of $87.09 billion, indicating changes of +112.91% and +11.95%, respectively, from the former year.

Investors should also take note of any recent adjustments to analyst estimates for Boeing. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. Over the past month, the Zacks Consensus EPS estimate has shifted 67.97% downward. Right now, Boeing possesses a Zacks Rank of #5 (Strong Sell).

Digging into valuation, Boeing currently has a Forward P/E ratio of 232.62. Its industry sports an average Forward P/E of 18.56, so one might conclude that Boeing is trading at a premium comparatively.

We can additionally observe that BA currently boasts a PEG ratio of 58.16. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Aerospace - Defense industry stood at 1.85 at the close of the market yesterday.

The Aerospace - Defense industry is part of the Aerospace sector. This industry, currently bearing a Zacks Industry Rank of 98, finds itself in the top 39% 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.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.