Boeing (BA) Set to Announce Quarterly Earnings on Wednesday

Boeing (NYSE:BA) will be issuing its quarterly earnings data before the market opens on Wednesday, April 24th. Analysts expect the company to announce earnings of ($1.08) per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.25. The firm had revenue of $22.02 billion during the quarter, compared to the consensus estimate of $21.14 billion. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the firm earned ($1.75) earnings per share. On average, analysts expect Boeing to post $0 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Boeing Price Performance

Shares of Boeing stock opened at $169.82 on Monday. Boeing has a one year low of $167.53 and a one year high of $267.54. The firm has a market cap of $103.61 billion, a price-to-earnings ratio of -46.15, a price-to-earnings-growth ratio of 134.48 and a beta of 1.52. The stock’s 50-day moving average is $190.29 and its 200-day moving average is $207.43.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Stifel Nicolaus dropped their target price on Boeing from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th. Royal Bank of Canada dropped their target price on Boeing from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, April 16th. Sanford C. Bernstein dropped their target price on Boeing from $272.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, April 8th. Susquehanna dropped their target price on Boeing from $265.00 to $230.00 and set a “positive” rating on the stock in a report on Thursday, March 21st. Finally, Edward Jones downgraded Boeing from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and a consensus target price of $229.35.

Hedge Funds Weigh In On Boeing

Several institutional investors and hedge funds have recently made changes to their positions in the company. Moneta Group Investment Advisors LLC boosted its stake in shares of Boeing by 109,667.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 16,055,730 shares of the aircraft producer’s stock valued at $3,058,456,000 after buying an additional 16,041,103 shares during the period. Barclays PLC boosted its stake in shares of Boeing by 599.0% in the second quarter. Barclays PLC now owns 1,522,410 shares of the aircraft producer’s stock valued at $321,475,000 after buying an additional 1,827,485 shares during the period. Vanguard Group Inc. boosted its stake in shares of Boeing by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 48,501,735 shares of the aircraft producer’s stock valued at $12,642,462,000 after buying an additional 892,227 shares during the period. Morgan Stanley boosted its stake in shares of Boeing by 11.7% in the fourth quarter. Morgan Stanley now owns 8,321,871 shares of the aircraft producer’s stock valued at $1,585,234,000 after buying an additional 872,795 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of Boeing by 28.5% in the fourth quarter. Legal & General Group Plc now owns 3,369,812 shares of the aircraft producer’s stock valued at $878,378,000 after buying an additional 746,859 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Company Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.