Zacks: Analysts Expect Boeing Co (BA) Will Post Earnings of $3.45 Per Share

Equities research analysts predict that Boeing Co (NYSE:BA) will announce $3.45 earnings per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Boeing’s earnings, with the lowest EPS estimate coming in at $3.30 and the highest estimate coming in at $3.60. Boeing reported earnings per share of $2.72 in the same quarter last year, which would indicate a positive year over year growth rate of 26.8%. The company is expected to issue its next quarterly earnings results before the market opens on Wednesday, October 24th.

On average, analysts expect that Boeing will report full year earnings of $14.58 per share for the current year, with EPS estimates ranging from $13.90 to $14.86. For the next financial year, analysts forecast that the firm will report earnings of $17.43 per share, with EPS estimates ranging from $16.80 to $18.31. Zacks’ EPS averages are a mean average based on a survey of research firms that follow Boeing.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, July 25th. The aircraft producer reported $3.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.45 by ($0.12). Boeing had a net margin of 9.92% and a return on equity of 2,344.87%. The company had revenue of $24.26 billion during the quarter, compared to analyst estimates of $24.02 billion. During the same period in the prior year, the business posted $2.55 EPS. Boeing’s revenue was up 5.2% compared to the same quarter last year.

A number of equities research analysts recently issued reports on the stock. Morgan Stanley set a $400.00 price target on shares of Boeing and gave the company a “hold” rating in a research note on Friday, September 28th. Cowen reissued a “buy” rating and issued a $445.00 price target on shares of Boeing in a research note on Monday, October 1st. ValuEngine raised shares of Boeing from a “hold” rating to a “buy” rating in a research note on Wednesday, September 19th. Jefferies Financial Group reissued a “buy” rating and issued a $410.00 price target on shares of Boeing in a research note on Sunday, July 29th. Finally, UBS Group lifted their price target on shares of Boeing from $325.00 to $357.00 and gave the company a “neutral” rating in a research note on Thursday, July 26th. Six equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Boeing presently has a consensus rating of “Buy” and a consensus price target of $401.25.

A number of institutional investors and hedge funds have recently made changes to their positions in BA. Summit Trail Advisors LLC raised its holdings in shares of Boeing by 33,457.1% during the 1st quarter. Summit Trail Advisors LLC now owns 3,700,676 shares of the aircraft producer’s stock worth $3,701,000 after acquiring an additional 3,689,648 shares during the period. Cornerstone Wealth Management LLC raised its holdings in shares of Boeing by 33,433.9% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 2,409,747 shares of the aircraft producer’s stock worth $7,169,000 after acquiring an additional 2,402,561 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Boeing by 23.3% during the 2nd quarter. Janus Henderson Group PLC now owns 5,928,288 shares of the aircraft producer’s stock worth $1,989,009,000 after acquiring an additional 1,121,675 shares during the period. FMR LLC raised its holdings in shares of Boeing by 16.0% during the 2nd quarter. FMR LLC now owns 7,415,662 shares of the aircraft producer’s stock worth $2,488,029,000 after acquiring an additional 1,023,959 shares during the period. Finally, Boston Partners purchased a new position in shares of Boeing during the 2nd quarter worth $328,421,000. 69.71% of the stock is currently owned by institutional investors.

Boeing stock traded down $2.75 during trading on Wednesday, reaching $365.50. The company had a trading volume of 2,236,062 shares, compared to its average volume of 4,454,752. Boeing has a 1-year low of $254.50 and a 1-year high of $394.28. The stock has a market capitalization of $213.66 billion, a P/E ratio of 30.36, a P/E/G ratio of 1.85 and a beta of 1.39. The company has a debt-to-equity ratio of -7.65, a quick ratio of 0.32 and a current ratio of 1.11.

Boeing Company Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

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Earnings History and Estimates for Boeing (NYSE:BA)

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