Boeing Co (BA) Expected to Post Earnings of $2.66 Per Share
Wall Street analysts forecast that Boeing Co (NYSE:BA) will report earnings of $2.66 per share for the current quarter, according to Zacks. Five analysts have issued estimates for Boeing’s earnings, with the highest EPS estimate coming in at $2.78 and the lowest estimate coming in at $2.55. Boeing posted earnings of $3.51 per share in the same quarter last year, which would suggest a negative year over year growth rate of 24.2%. The firm is scheduled to issue its next earnings report before the market opens on Wednesday, October 25th.
According to Zacks, analysts expect that Boeing will report full year earnings of $10.06 per share for the current year, with EPS estimates ranging from $9.92 to $10.35. For the next financial year, analysts expect that the firm will post earnings of $10.85 per share, with EPS estimates ranging from $10.50 to $11.34. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Boeing.
Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, July 26th. The aircraft producer reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.23. The firm had revenue of $22.74 billion for the quarter, compared to the consensus estimate of $22.97 billion. During the same quarter in the prior year, the firm earned ($0.44) EPS. The company’s revenue was down 8.1% on a year-over-year basis.
A number of research analysts have recently weighed in on the stock. Argus reissued a “buy” rating and set a $270.00 target price on shares of Boeing in a research report on Tuesday, August 1st. Zacks Investment Research downgraded shares of Boeing from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Vetr downgraded shares of Boeing from a “strong-buy” rating to a “buy” rating and set a $266.88 target price for the company. in a research report on Wednesday, August 16th. Wells Fargo & Co reissued a “hold” rating and set a $255.00 target price (up from $240.00) on shares of Boeing in a research report on Wednesday, September 20th. Finally, Canaccord Genuity reissued a “hold” rating and set a $170.00 target price on shares of Boeing in a research report on Sunday, July 9th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $241.19.
Shares of Boeing (BA) opened at 260.02 on Tuesday. The stock’s 50 day moving average price is $251.85 and its 200-day moving average price is $214.57. The company has a market cap of $153.69 billion, a PE ratio of 22.78 and a beta of 1.21. Boeing has a one year low of $133.33 and a one year high of $263.79.
In other Boeing news, SVP Thomas J. Downey sold 134 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $241.20, for a total value of $32,320.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Heidi B. Capozzi sold 4,217 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $241.51, for a total transaction of $1,018,447.67. The disclosure for this sale can be found here. Insiders sold 83,468 shares of company stock worth $20,353,814 in the last 90 days. Corporate insiders own 0.28% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the business. Indiana Trust & Investment Management CO increased its position in shares of Boeing by 4.1% in the third quarter. Indiana Trust & Investment Management CO now owns 6,913 shares of the aircraft producer’s stock valued at $1,757,000 after acquiring an additional 270 shares during the period. Osborn Williams & Donohoe LLC increased its position in shares of Boeing by 9.4% in the third quarter. Osborn Williams & Donohoe LLC now owns 7,467 shares of the aircraft producer’s stock valued at $1,898,000 after acquiring an additional 640 shares during the period. Curbstone Financial Management Corp increased its position in shares of Boeing by 92.1% in the third quarter. Curbstone Financial Management Corp now owns 3,650 shares of the aircraft producer’s stock valued at $928,000 after acquiring an additional 1,750 shares during the period. Intl Fcstone Inc. purchased a new position in shares of Boeing in the second quarter valued at about $1,933,000. Finally, M Holdings Securities Inc. increased its position in shares of Boeing by 62.7% in the second quarter. M Holdings Securities Inc. now owns 3,381 shares of the aircraft producer’s stock valued at $669,000 after acquiring an additional 1,303 shares during the period. Hedge funds and other institutional investors own 72.14% of the company’s stock.
Boeing Company Profile
The Boeing Company is an aerospace company. The Company’s segments include Commercial Airplanes; Defense, Space & Security (BDS), such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). The Commercial Airplanes segment develops, produces and markets commercial jet aircraft and provides related support services, to the commercial airline industry.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Boeing Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boeing Co and related companies with MarketBeat.com's FREE daily email newsletter.