Boeing and Facebook Stock Prices Ahead of Q2 Earnings Report

Posted by Lulama Msungwa -
Scope Markets

Table of Content

Facebook earnings

The digital company Facebook is set to report its Q2 earnings after the closing bell on Wednesday. Analysts are optimistic that the Facebook stock could top up expectations in prices per share and company revenues. The market remains bullish ahead of key data after Snap topped expectations and could give courage to investors about the Facebook stock.

What to expect?

We expect the Facebook stock to score per share approximately $3.08, which is higher than the market consensus estimate of $3.02. The company is constantly striving to increase its profit margins. As seen in Q1 of 2021, operating margins were 43%, compared to 33% in the same period last year. All in all, the company’s earnings per share in fiscal 2021 can be roughly $12.58.

We expect revenue for the second quarter of fiscal 2021 to be approximately US $30.2 billion, which is US $8.5 higher than the consensus estimate of US $27.8 billion. As a result of the switch to e-commerce in the second half of 2020, FB’s revenues have grown and continued to grow in the first quarter of 2021.

We expect Facebook’s revenue and earnings to exceed consensus expectations. The company has reported better-than-expected revenue and earnings data in each of the past four quarters. In the first quarter of 2021, the company’s daily active users increased by 8% year on year, while advertising business revenue increased by 46% year on year because the appeal of online advertising continues. We expect that the same factors will also drive the results of the second quarter of fiscal 2021.

Technical outlook Facebook stock

Facebook’s share price has been on a great rally in an upside channel, lifted by solid expectations of Q2 earnings and increasing growth support to quality tech stocks.

Technical analysis of Facebook stock, chart 4 hours, made by LulamaFX of Scope Markets

Technically, the long-term rally still looks positive despite a sell-off yesterday in major stocks, and the pair trades above the $360 level and could still go higher ahead of the earnings. A higher-than-expected reading could lift the stock price even higher.

Boeing earnings

With the influx of more 737 Max orders and the return of the Covid19 case, Boeing (BA) will report its second-quarter results early Wednesday. Boeing’s stock price fell in June until the share price began to rise last week and continued to rise before the earnings report was released.

It has been a turbulent two years for Boeing shares, and the company should experience

losses for the seventh consecutive quarter in the second quarter.

What to expect?

Boeing may have posted the largest revenue error in Wall Street history that is irrelevant. Afterward, the 737 Max Jet experienced problems and lowered expectations in the first quarter. All eyes are on management’s vision of the future. After the problems with the 737 MAX and Covid19 aircraft, first-quarter earnings expectations are low. Boeing’s future and share price are closely related to its internal improvement and the recovery of the commercial aviation industry.

For Q2, Wall Street expects its sales of $16.5 billion and a loss of 81 cents per share. In the same period last year, Boeing (NASDAQ: BA) reported an adjusted loss of nearly $5 per share and sales of $11.8 billion.

These are not very good results, but the commercial aviation giant is still emerging from the dual crisis of the 737 MAX and Covid19. Things are so challenging for the company that it can report just about anything without surprising investors.

Technical outlook Boeing stock

The Boeing share price has been on the rise after its sell-off in June. Ahead of the earnings, the market seems to be picking up momentum, which could see the price move above $225.

Technical analysis of Boeing stock, chart 4 hours, made by LulamaFX of Scope Markets

Technically, the market is moving within a flag pattern, and the bulls will be eyeing a break above the flag and the resistance level at $225 to set further gains.

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