Boeing (BA) Shares Gap Up on Strong Earnings

Boeing Co (NYSE:BA)’s share price gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $348.24, but opened at $354.37. Boeing shares last traded at $360.17, with a volume of 3245628 shares.

The aircraft producer reported $4.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.91 by $1.89. Boeing had a negative return on equity of 11,050.62% and a net margin of 8.78%. The firm had revenue of $25.37 billion for the quarter, compared to analysts’ expectations of $24.78 billion. During the same period in the previous year, the firm earned $2.47 EPS. The business’s quarterly revenue was up 8.9% on a year-over-year basis.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 9th will be given a dividend of $1.71 per share. This is a boost from Boeing’s previous quarterly dividend of $1.42. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Thursday, February 8th. Boeing’s payout ratio is presently 42.20%.

Boeing declared that its board has authorized a share buyback plan on Monday, December 11th that authorizes the company to buyback $18.00 billion in outstanding shares. This buyback authorization authorizes the aircraft producer to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

BA has been the topic of a number of analyst reports. Sanford C. Bernstein lifted their price objective on Boeing from $402.00 to $422.00 in a research report on Friday. JPMorgan Chase & Co. reissued a “buy” rating and set a $300.00 target price on shares of Boeing in a research note on Thursday, October 26th. Cowen reissued a “buy” rating and set a $315.00 target price on shares of Boeing in a research note on Thursday, October 26th. Zacks Investment Research raised Boeing from a “hold” rating to a “buy” rating and set a $289.00 target price on the stock in a research note on Tuesday, October 10th. Finally, Jefferies Group reissued a “buy” rating and set a $300.00 target price on shares of Boeing in a research note on Friday, October 6th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $344.94.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Stonehearth Capital Management LLC purchased a new stake in shares of Boeing in the 4th quarter worth $105,000. Solaris Asset Management LLC purchased a new stake in shares of Boeing in the 4th quarter worth $111,000. Lipe & Dalton purchased a new stake in shares of Boeing in the 3rd quarter worth $100,000. Burt Wealth Advisors purchased a new stake in shares of Boeing in the 3rd quarter worth $100,000. Finally, Welch Group LLC purchased a new stake in shares of Boeing in the 4th quarter worth $120,000. Institutional investors own 70.81% of the company’s stock.

The company has a quick ratio of 0.39, a current ratio of 1.16 and a debt-to-equity ratio of 23.74. The company has a market cap of $207,800.00, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 1.97 and a beta of 1.44.

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About Boeing

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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