Jefferies Group Brokers Reduce Earnings Estimates for Boeing Co. (BA)
Boeing Co. (NYSE:BA) – Equities research analysts at Jefferies Group decreased their Q3 2016 EPS estimates for Boeing in a research note issued on Thursday. Jefferies Group analyst H. Rubel now anticipates that the firm will post earnings of $2.55 per share for the quarter, down from their previous forecast of $2.57. Jefferies Group has a “Buy” rating and a $165.00 price objective on the stock. Jefferies Group also issued estimates for Boeing’s FY2019 earnings at $10.50 EPS and FY2020 earnings at $11.30 EPS.
Boeing (NYSE:BA) last posted its earnings results on Wednesday, July 27th. The aircraft producer reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.48. Boeing had a return on equity of 82.66% and a net margin of 3.84%. The business earned $24.80 million during the quarter, compared to analyst estimates of $23.22 million. During the same quarter last year, the firm earned $1.62 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year.
A number of other research analysts also recently weighed in on BA. Goldman Sachs Group Inc. set a $107.00 price target on Boeing and gave the company a “sell” rating in a report on Tuesday, August 30th. Vetr downgraded Boeing from a “hold” rating to a “sell” rating and set a $126.07 price target on the stock. in a report on Wednesday, August 24th. JPMorgan Chase & Co. set a $140.00 price objective on Boeing and gave the company a “neutral” rating in a research report on Monday, July 4th. Citigroup Inc. reduced their price objective on Boeing from $168.00 to $160.00 and set a “buy” rating for the company in a research report on Monday, September 19th. Finally, Morgan Stanley initiated coverage on Boeing in a research report on Thursday, June 23rd. They set an “overweight” rating and a $153.00 price objective for the company. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $147.94.
Shares of Boeing (NYSE:BA) opened at 133.74 on Monday. Boeing has a 1-year low of $102.10 and a 1-year high of $150.59. The stock has a 50 day moving average price of $131.38 and a 200-day moving average price of $131.14. The firm has a market cap of $83.43 billion, a price-to-earnings ratio of 24.08 and a beta of 1.03.
In other news, Director Randall L. Stephenson acquired 1,871 shares of Boeing stock in a transaction on Monday, August 1st. The shares were purchased at an average price of $133.89 per share, with a total value of $250,508.19. Following the acquisition, the director now owns 3,721 shares in the company, valued at $498,204.69. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Diana L. Sands sold 14,151 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $133.06, for a total value of $1,882,932.06. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. WASHINGTON TRUST Co increased its position in Boeing by 8.2% in the first quarter. WASHINGTON TRUST Co now owns 152,758 shares of the aircraft producer’s stock valued at $19,391,000 after buying an additional 11,629 shares in the last quarter. Pacad Investment Ltd. purchased a new position in Boeing during the first quarter valued at about $17,244,000. Icon Advisers Inc. Co. increased its position in Boeing by 76.0% in the first quarter. Icon Advisers Inc. Co. now owns 8,800 shares of the aircraft producer’s stock valued at $1,117,000 after buying an additional 3,800 shares in the last quarter. guardian investment management increased its position in Boeing by 6.6% in the first quarter. guardian investment management now owns 14,539 shares of the aircraft producer’s stock valued at $1,845,000 after buying an additional 904 shares in the last quarter. Finally, Brick & Kyle Associates increased its position in Boeing by 4.8% in the first quarter. Brick & Kyle Associates now owns 3,270 shares of the aircraft producer’s stock valued at $415,000 after buying an additional 150 shares in the last quarter. 75.45% of the stock is currently owned by hedge funds and other institutional investors.
Boeing Company Profile
The Boeing Company is an aerospace firm. The Company operates in five segments: Commercial airplanes; Defense, Space & Security (BDS) business, such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). Its Commercial Airplanes segment develops, produces and markets commercial jet aircraft, which provides related support services to the commercial airline industry.
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