Boeing’s (BA) Buy Rating Reaffirmed at Cowen
Other analysts also recently issued research reports about the stock. Royal Bank of Canada set a $290.00 price objective on shares of Boeing and gave the company a hold rating in a research report on Wednesday, November 15th. Jefferies Group increased their price objective on shares of Boeing from $300.00 to $312.00 and gave the company a buy rating in a research report on Tuesday, November 21st. Canaccord Genuity reaffirmed a hold rating and issued a $235.00 price objective (up previously from $215.00) on shares of Boeing in a research report on Sunday, September 17th. ValuEngine raised shares of Boeing from a hold rating to a buy rating in a research report on Friday, September 1st. Finally, Zacks Investment Research raised shares of Boeing from a hold rating to a buy rating and set a $289.00 price objective for the company in a research report on Tuesday, October 10th. Eleven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $266.73.
Boeing (NYSE:BA) opened at $293.88 on Monday. Boeing has a one year low of $153.06 and a one year high of $296.82. The company has a current ratio of 1.18, a quick ratio of 0.39 and a debt-to-equity ratio of 8.54. The company has a market cap of $173,813.63, a PE ratio of 29.93, a PEG ratio of 2.22 and a beta of 1.24.
Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, October 25th. The aircraft producer reported $2.72 EPS for the quarter, beating the Zacks’ consensus estimate of $2.65 by $0.07. Boeing had a net margin of 7.33% and a return on equity of 12,064.25%. The company had revenue of $24.31 billion during the quarter, compared to the consensus estimate of $24.09 billion. During the same quarter in the prior year, the company posted $3.51 EPS. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. sell-side analysts forecast that Boeing will post 10.1 earnings per share for the current year.
Boeing announced that its Board of Directors has authorized a stock buyback program on Monday, December 11th that authorizes the company to repurchase $18.00 billion in outstanding shares. This repurchase authorization authorizes the aircraft producer to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 9th will be given a $1.71 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This is a positive change from Boeing’s previous quarterly dividend of $1.42. This represents a $6.84 annualized dividend and a yield of 2.33%. Boeing’s dividend payout ratio (DPR) is currently 52.21%.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Lipe & Dalton acquired a new position in Boeing during the third quarter worth about $100,000. Burt Wealth Advisors acquired a new position in Boeing during the third quarter worth about $100,000. Clear Perspective Advisors LLC boosted its position in shares of Boeing by 31.0% in the 2nd quarter. Clear Perspective Advisors LLC now owns 571 shares of the aircraft producer’s stock valued at $113,000 after purchasing an additional 135 shares during the period. Proficio Capital Partners LLC boosted its position in shares of Boeing by 181.9% in the 1st quarter. Proficio Capital Partners LLC now owns 623 shares of the aircraft producer’s stock valued at $115,000 after purchasing an additional 402 shares during the period. Finally, Vantage Investment Advisors LLC boosted its position in shares of Boeing by 11.1% in the 2nd quarter. Vantage Investment Advisors LLC now owns 841 shares of the aircraft producer’s stock valued at $123,000 after purchasing an additional 84 shares during the period. 70.97% of the stock is currently owned by hedge funds and other institutional investors.
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.
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