Boeing Co (NYSE:BA) – Equities research analysts at Jefferies Financial Group increased their FY2020 earnings estimates for Boeing in a report issued on Tuesday, January 8th, Zacks Investment Research reports. Jefferies Financial Group analyst S. Kahyaoglu now anticipates that the aircraft producer will earn $21.20 per share for the year, up from their prior estimate of $20.00. Jefferies Financial Group has a “Buy” rating and a $420.00 price objective on the stock. Jefferies Financial Group also issued estimates for Boeing’s FY2021 earnings at $23.25 EPS.
A number of other equities research analysts have also issued reports on BA. Zacks Investment Research raised Boeing from a “hold” rating to a “buy” rating and set a $407.00 target price on the stock in a research report on Friday, October 26th. UBS Group reiterated a “buy” rating on shares of Boeing in a report on Wednesday, January 9th. Susquehanna Bancshares initiated coverage on Boeing in a research note on Thursday, January 10th. They issued a “positive” rating and a $388.00 price objective for the company. Cowen reissued a “buy” rating and set a $445.00 price objective on shares of Boeing in a report on Tuesday, December 18th. Finally, Canaccord Genuity reissued a “hold” rating and set a $360.00 target price (up previously from $350.00) on shares of Boeing in a research note on Thursday, October 25th. Seven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $410.55.
Shares of BA stock traded up $5.64 during mid-day trading on Thursday, hitting $364.73. The stock had a trading volume of 4,255,862 shares, compared to its average volume of 3,744,916. Boeing has a fifty-two week low of $292.47 and a fifty-two week high of $394.28. The stock has a market capitalization of $203.92 billion, a PE ratio of 30.29, a price-to-earnings-growth ratio of 1.48 and a beta of 1.24.
Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 24th. The aircraft producer reported $3.58 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.11. The firm had revenue of $25.15 billion for the quarter, compared to analysts’ expectations of $23.84 billion. Boeing had a negative return on equity of 4,176.41% and a net margin of 10.36%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.72 EPS.
A number of hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC increased its stake in Boeing by 23.3% in 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 buying an additional 1,121,675 shares in the last quarter. FMR LLC increased its stake in shares of Boeing by 15.1% during the third quarter. FMR LLC now owns 8,535,249 shares of the aircraft producer’s stock worth $3,174,259,000 after purchasing an additional 1,119,587 shares in the last quarter. Capital International Investors grew its stake in Boeing by 26.1% during the 3rd quarter. Capital International Investors now owns 4,847,958 shares of the aircraft producer’s stock valued at $1,802,956,000 after acquiring an additional 1,002,825 shares in the last quarter. Boston Partners acquired a new position in shares of Boeing in the 2nd quarter worth approximately $328,421,000. Finally, Winslow Capital Management LLC lifted its holdings in Boeing by 50.1% during the 3rd quarter. Winslow Capital Management LLC now owns 1,217,030 shares of the aircraft producer’s stock worth $452,613,000 after buying an additional 406,078 shares in the last quarter. 69.58% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP Jenette E. Ramos sold 1,640 shares of the stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $367.52, for a total value of $602,732.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Diana L. Sands sold 5,000 shares of Boeing stock in a transaction dated Monday, October 29th. The shares were sold at an average price of $350.07, for a total value of $1,750,350.00. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 8th will be paid a $2.055 dividend. This is a boost from Boeing’s previous quarterly dividend of $1.71. The ex-dividend date is Thursday, February 7th. This represents a $8.22 annualized dividend and a dividend yield of 2.25%. Boeing’s dividend payout ratio (DPR) is 56.81%.
Boeing declared that its board has authorized a stock buyback plan on Monday, December 17th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the aircraft producer to repurchase up to 11.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
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.