Brokerages predict that Boeing (NYSE:BA) will post $23.49 billion in sales for the current quarter, according to Zacks. Five analysts have provided estimates for Boeing’s earnings, with the lowest sales estimate coming in at $23.03 billion and the highest estimate coming in at $23.87 billion. Boeing posted sales of $22.74 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 3.3%. The firm is expected to report its next earnings results on Wednesday, July 25th.
According to Zacks, analysts expect that Boeing will report full year sales of $98.20 billion for the current financial year, with estimates ranging from $97.81 billion to $98.83 billion. For the next year, analysts anticipate that the company will report sales of $103.80 billion per share, with estimates ranging from $101.86 billion to $106.64 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Boeing.
Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, April 25th. The aircraft producer reported $3.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.59 by $1.05. Boeing had a net margin of 9.63% and a return on equity of 3,774.27%. The business had revenue of $23.38 billion during the quarter, compared to analyst estimates of $22.22 billion. During the same period in the previous year, the business posted $2.01 EPS. The company’s quarterly revenue was up 6.5% on a year-over-year basis.
Several research analysts have recently commented on BA shares. Sanford C. Bernstein lifted their price target on shares of Boeing from $402.00 to $422.00 in a report on Friday, February 2nd. Zacks Investment Research raised shares of Boeing from a “hold” rating to a “buy” rating and set a $381.00 price target for the company in a report on Monday, January 22nd. Bank of America reaffirmed a “buy” rating and issued a $470.00 price target (up from $395.00) on shares of Boeing in a report on Thursday, February 1st. Citigroup reaffirmed a “buy” rating and issued a $415.00 price target on shares of Boeing in a report on Thursday, February 1st. Finally, Cowen reaffirmed a “buy” rating and issued a $415.00 price target on shares of Boeing in a report on Wednesday, January 31st. Seven analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $374.63.
In other Boeing news, SVP Gregory L. Hyslop sold 2,241 shares of the business’s stock in a transaction dated Monday, May 7th. The shares were sold at an average price of $340.27, for a total transaction of $762,545.07. Following the sale, the senior vice president now directly owns 21,425 shares in the company, valued at approximately $7,290,284.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP J Michael Luttig sold 9,000 shares of the business’s stock in a transaction dated Wednesday, May 9th. The stock was sold at an average price of $344.13, for a total transaction of $3,097,170.00. Following the sale, the executive vice president now owns 27,878 shares in the company, valued at $9,593,656.14. The disclosure for this sale can be found here. Insiders have sold a total of 12,373 shares of company stock worth $4,233,094 over the last 90 days. 0.24% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its holdings in shares of Boeing by 220.0% in the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 320 shares of the aircraft producer’s stock worth $105,000 after purchasing an additional 220 shares in the last quarter. Advisors Preferred LLC bought a new stake in shares of Boeing in the 1st quarter worth approximately $111,000. Stonehearth Capital Management LLC bought a new stake in shares of Boeing in the 4th quarter worth approximately $105,000. Solaris Asset Management LLC bought a new stake in shares of Boeing in the 4th quarter worth approximately $111,000. Finally, Lucia Wealth Services LLC bought a new stake in shares of Boeing in the 1st quarter worth approximately $126,000. Institutional investors own 70.90% of the company’s stock.
Shares of NYSE BA traded up $7.09 during midday trading on Thursday, hitting $351.23. The company’s stock had a trading volume of 4,327,659 shares, compared to its average volume of 4,154,980. Boeing has a 1-year low of $176.77 and a 1-year high of $371.60. The company has a debt-to-equity ratio of 8.07, a quick ratio of 0.33 and a current ratio of 1.15. The firm has a market capitalization of $204.62 billion, a PE ratio of 29.17, a price-to-earnings-growth ratio of 1.74 and a beta of 1.39.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Friday, May 11th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Thursday, May 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.95%. Boeing’s dividend payout ratio (DPR) is 56.81%.
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.
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