Boeing Co (NYSE:BA) – Research analysts at Jefferies Financial Group cut their FY2020 earnings estimates for Boeing in a note issued to investors on Tuesday, January 7th. Jefferies Financial Group analyst S. Kahyaoglu now forecasts that the aircraft producer will post earnings of $14.50 per share for the year, down from their prior estimate of $14.75. Jefferies Financial Group currently has a “Buy” rating and a $420.00 price objective on the stock.
Several other research analysts also recently weighed in on the stock. Morgan Stanley decreased their target price on shares of Boeing from $500.00 to $450.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Canaccord Genuity cut their price objective on shares of Boeing from $380.00 to $370.00 and set a “hold” rating on the stock in a report on Thursday, October 24th. Citigroup decreased their price objective on shares of Boeing from $430.00 to $420.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Cowen downgraded Boeing from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $419.00 to $371.00 in a research note on Wednesday. Finally, Bank of America dropped their target price on Boeing from $370.00 to $360.00 and set a “neutral” rating on the stock in a research report on Monday, December 23rd. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $362.88.
Shares of BA opened at $329.92 on Thursday. Boeing has a 12 month low of $319.55 and a 12 month high of $446.01. The stock’s 50-day moving average is $343.67 and its two-hundred day moving average is $355.20. The stock has a market cap of $186.49 billion, a PE ratio of 20.61, a P/E/G ratio of 2.53 and a beta of 1.19.
Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($0.59). Boeing had a net margin of 4.37% and a negative return on equity of 367.68%. The company had revenue of $19.98 billion during the quarter, compared to analyst estimates of $20 billion. During the same quarter in the prior year, the company posted $3.58 earnings per share. The firm’s revenue for the quarter was down 20.5% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently made changes to their positions in BA. Vanguard Capital Wealth Advisors boosted its stake in Boeing by 0.4% during the 3rd quarter. Vanguard Capital Wealth Advisors now owns 6,730 shares of the aircraft producer’s stock valued at $2,560,000 after purchasing an additional 29 shares during the period. Pflug Koory LLC raised its holdings in shares of Boeing by 0.6% during the third quarter. Pflug Koory LLC now owns 5,398 shares of the aircraft producer’s stock valued at $2,054,000 after buying an additional 30 shares during the last quarter. LeJeune Puetz Investment Counsel LLC raised its holdings in shares of Boeing by 0.3% during the third quarter. LeJeune Puetz Investment Counsel LLC now owns 10,904 shares of the aircraft producer’s stock valued at $4,149,000 after buying an additional 30 shares during the last quarter. Lesa Sroufe & Co boosted its position in shares of Boeing by 2.4% during the third quarter. Lesa Sroufe & Co now owns 1,292 shares of the aircraft producer’s stock worth $492,000 after buying an additional 30 shares during the period. Finally, OLD Dominion Capital Management Inc. boosted its position in shares of Boeing by 0.8% during the third quarter. OLD Dominion Capital Management Inc. now owns 3,587 shares of the aircraft producer’s stock worth $1,365,000 after buying an additional 30 shares during the period. Hedge funds and other institutional investors own 68.42% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 14th will be issued a $2.055 dividend. This represents a $8.22 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend is Thursday, February 13th. Boeing’s dividend payout ratio is currently 51.34%.
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.