Boeing (NYSE:BA)‘s stock had its “buy” rating restated by equities researchers at Seaport Global Securities in a research report issued on Thursday. They presently have a $430.00 target price on the aircraft producer’s stock. Seaport Global Securities’ target price points to a potential upside of 22.50% from the stock’s current price.
Other equities research analysts have also recently issued reports about the stock. Wells Fargo & Co reaffirmed a “hold” rating and issued a $255.00 price objective (up from $240.00) on shares of Boeing in a research report on Wednesday, September 20th. Vetr cut shares of Boeing from a “buy” rating to a “hold” rating and set a $267.03 price objective on the stock. in a research report on Friday, October 6th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $303.00 price objective (up from $274.00) on shares of Boeing in a research report on Wednesday, September 20th. They noted that the move was a valuation call. Cowen reaffirmed a “buy” rating and issued a $315.00 price objective on shares of Boeing in a research report on Friday, October 6th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $310.00 price objective (up from $300.00) on shares of Boeing in a research report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $304.10.
Boeing (NYSE BA) opened at $351.01 on Thursday. The firm has a market cap of $209,050.00, a price-to-earnings ratio of 32.29, a PEG ratio of 2.28 and a beta of 1.23. Boeing has a 52-week low of $156.75 and a 52-week high of $352.23. The company has a current ratio of 1.18, a quick ratio of 0.39 and a debt-to-equity ratio of 8.54.
Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.65 by $0.07. The company had revenue of $24.31 billion for the quarter, compared to analysts’ expectations of $24.09 billion. Boeing had a net margin of 7.33% and a return on equity of 12,064.25%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the firm posted $3.51 earnings per share. research analysts anticipate that Boeing will post 10.13 EPS for the current year.
Boeing announced that its Board of Directors has approved a stock repurchase program on Monday, December 11th that allows the company to buyback $18.00 billion in outstanding shares. This buyback authorization allows the aircraft producer to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Large investors have recently modified their holdings of the business. Janus Henderson Group PLC increased its stake in shares of Boeing by 7,215.0% during the 2nd quarter. Janus Henderson Group PLC now owns 4,919,937 shares of the aircraft producer’s stock worth $972,919,000 after purchasing an additional 4,852,679 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Boeing by 20.3% during the 3rd quarter. Jennison Associates LLC now owns 6,873,128 shares of the aircraft producer’s stock worth $1,747,218,000 after purchasing an additional 1,160,859 shares during the last quarter. Koch Industries Inc. increased its stake in shares of Boeing by 61,128.7% during the 2nd quarter. Koch Industries Inc. now owns 849,855 shares of the aircraft producer’s stock worth $846,000 after purchasing an additional 848,467 shares during the last quarter. Stifel Financial Corp increased its stake in shares of Boeing by 19,958.0% during the 3rd quarter. Stifel Financial Corp now owns 833,410 shares of the aircraft producer’s stock worth $212,108,000 after purchasing an additional 829,255 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. increased its stake in shares of Boeing by 28,537.7% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 782,669 shares of the aircraft producer’s stock worth $198,962,000 after purchasing an additional 779,936 shares during the last quarter. 70.87% of the stock is currently owned by hedge funds and other institutional investors.
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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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