According to Zacks, “Boeing is the world’s largest aircraft manufacturer in terms of revenues, orders and deliveries, and is one of the largest defense contractors. Boeing’s recently released China Current Market Outlook estimates a $1.03 trillion market in the country for new commercial airplanes over the next 20 years. Further Boeing sold 28 wide-body jets to Saudi Arabian Airlines, for $8 billion. These developments reflect this company’s latest expansion in the international front, apart from the strong foray it already enjoys in the domestic aviation market. However, the company is losing important contracts for aircraft and satellites to overseas rivals due to a stand-off in Congress over the future of the U.S Export-Import (Ex-Im) Bank. That said, it continues to face challenges such as declining backlog, uncertainty surrounding high-cost programs, lower delivery numbers, risks related to key project executions and stiff competition.”
A number of other brokerages have also commented on BA. JPMorgan Chase & Co. set a $140.00 price objective on shares of Boeing and gave the stock a neutral rating in a report on Monday, July 4th. Jefferies Group reiterated a buy rating and issued a $165.00 price objective on shares of Boeing in a report on Friday, August 19th. Vetr upgraded shares of Boeing from a sell rating to a hold rating and set a $129.80 price objective on the stock in a report on Monday, August 1st. Goldman Sachs Group Inc. set a $100.00 price objective on shares of Boeing and gave the stock a sell rating in a report on Friday, July 22nd. Finally, Credit Suisse Group AG reiterated a neutral rating and issued a $148.00 price objective on shares of Boeing in a report on Friday, September 23rd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company’s stock. Boeing has an average rating of Hold and a consensus price target of $139.24.
Boeing (NYSE:BA) opened at 132.38 on Monday. The stock has a market cap of $82.58 billion, a price-to-earnings ratio of 23.83 and a beta of 1.03. Boeing has a one year low of $102.10 and a one year high of $150.59. The firm’s 50 day moving average price is $131.50 and its 200 day moving average price is $131.12.
Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, July 27th. The aircraft producer reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.48. Boeing had a net margin of 3.84% and a return on equity of 82.66%. The firm had revenue of $24.80 million for the quarter, compared to analyst estimates of $23.22 million. During the same quarter in the previous year, the business posted $1.62 EPS. The firm’s revenue was up .9% compared to the same quarter last year. Equities analysts forecast that Boeing will post $6.29 earnings per share for the current year.
In related news, Director Randall L. Stephenson bought 1,871 shares of the business’s stock in a transaction on Monday, August 1st. The stock was bought at an average price of $133.89 per share, for a total transaction of $250,508.19. Following the transaction, the director now directly owns 3,721 shares in the company, valued at $498,204.69. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Diana L. Sands sold 14,151 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $133.06, for a total transaction of $1,882,932.06. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in BA. Nelson Roberts Investment Advisors LLC increased its stake in Boeing by 23.7% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 940 shares of the aircraft producer’s stock worth $122,000 after buying an additional 180 shares during the last quarter. Van Hulzen Asset Management LLC increased its stake in Boeing by 11.1% in the second quarter. Van Hulzen Asset Management LLC now owns 1,000 shares of the aircraft producer’s stock worth $130,000 after buying an additional 100 shares during the last quarter. Cascade Investment Advisors Inc. bought a new stake in Boeing during the second quarter worth about $136,000. SevenBridge Financial Group LLC bought a new stake in Boeing during the second quarter worth about $142,000. Finally, Kelly Lawrence W & Associates Inc. CA increased its stake in Boeing by 25.5% in the second quarter. Kelly Lawrence W & Associates Inc. CA now owns 1,155 shares of the aircraft producer’s stock worth $150,000 after buying an additional 235 shares during the last quarter. Institutional investors own 75.46% of the company’s stock.
Boeing Company Profile
The Boeing Company is an aerospace firm. The Company operates in five segments: Commercial airplanes; Defense, Space & Security (BDS) business, such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). Its Commercial Airplanes segment develops, produces and markets commercial jet aircraft, which provides related support services to the commercial airline industry.
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