Boeing Co (NYSE:BA) – Seaport Global Securities reduced their Q1 2018 EPS estimates for Boeing in a research note issued on Thursday, according to Zacks Investment Research. Seaport Global Securities analyst J. Sullivan now forecasts that the aircraft producer will post earnings per share of $2.21 for the quarter, down from their prior estimate of $2.86. Seaport Global Securities currently has a “Buy” rating and a $430.00 price target on the stock. Seaport Global Securities also issued estimates for Boeing’s Q3 2018 earnings at $4.19 EPS, Q4 2018 earnings at $4.26 EPS, FY2018 earnings at $13.96 EPS, Q1 2019 earnings at $3.40 EPS, Q2 2019 earnings at $4.08 EPS, Q3 2019 earnings at $4.55 EPS and Q4 2019 earnings at $4.73 EPS.
Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.91 by $1.89. The business had revenue of $25.37 billion for the quarter, compared to analyst estimates of $24.78 billion. Boeing had a negative return on equity of 11,050.62% and a net margin of 8.78%. The company’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.47 earnings per share.
A number of other equities research analysts have also commented on BA. Canaccord Genuity upped their target price on Boeing from $235.00 to $245.00 and gave the company a “hold” rating in a research report on Wednesday, October 18th. Vetr lowered Boeing from a “hold” rating to a “sell” rating and set a $254.15 target price on the stock. in a research report on Monday, October 23rd. Credit Suisse Group reiterated an “outperform” rating and issued a $310.00 target price (up previously from $300.00) on shares of Boeing in a research report on Tuesday, October 24th. Morgan Stanley upped their target price on Boeing from $260.00 to $285.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 24th. Finally, Royal Bank of Canada upped their target price on Boeing from $269.00 to $273.00 and gave the company a “sector perform” rating in a research report on Thursday, October 26th. Ten research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $353.24.
Shares of Boeing (NYSE:BA) traded up $2.43 during midday trading on Monday, reaching $345.59. The company had a trading volume of 1,716,878 shares, compared to its average volume of 6,351,633. The stock has a market capitalization of $205,770.00, a price-to-earnings ratio of 29.46, a P/E/G ratio of 1.88 and a beta of 1.44. Boeing has a 52-week low of $168.35 and a 52-week high of $361.45. The company has a current ratio of 1.16, a quick ratio of 0.37 and a debt-to-equity ratio of 23.74.
Several hedge funds have recently made changes to their positions in the company. Lipe & Dalton acquired a new position in Boeing in the 3rd quarter valued at $100,000. Burt Wealth Advisors acquired a new position in Boeing in the 3rd quarter valued at $100,000. Stonehearth Capital Management LLC acquired a new position in Boeing in the 4th quarter valued at $105,000. Solaris Asset Management LLC acquired a new position in Boeing in the 4th quarter valued at $111,000. Finally, Clear Perspective Advisors LLC raised its stake in Boeing by 31.0% in the 2nd quarter. Clear Perspective Advisors LLC now owns 571 shares of the aircraft producer’s stock valued at $113,000 after purchasing an additional 135 shares during the last quarter. 70.45% of the stock is owned by institutional investors and hedge funds.
In other news, CFO Gregory D. Smith sold 36,079 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $337.43, for a total transaction of $12,174,136.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.28% of the company’s stock.
Boeing declared that its board has approved a stock buyback plan on Monday, December 11th that permits the company to repurchase $18.00 billion in shares. This repurchase authorization permits the aircraft producer to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 9th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.98%. This is an increase from Boeing’s previous quarterly dividend of $1.42. The ex-dividend date is Thursday, February 8th. Boeing’s dividend payout ratio is presently 58.31%.
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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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