William Blair Research Analysts Lower Earnings Estimates for The Boeing Company (NYSE:BA)

The Boeing Company (NYSE:BA) – William Blair reduced their Q2 2024 earnings estimates for shares of Boeing in a research report issued to clients and investors on Wednesday, April 24th. William Blair analyst L. Dipalma now forecasts that the aircraft producer will earn ($1.23) per share for the quarter, down from their prior estimate of $0.86. The consensus estimate for Boeing’s current full-year earnings is ($0.30) per share. William Blair also issued estimates for Boeing’s Q3 2024 earnings at $0.92 EPS, Q4 2024 earnings at $1.06 EPS, FY2024 earnings at ($0.38) EPS and FY2025 earnings at $6.56 EPS.

Several other analysts have also weighed in on BA. Melius Research reiterated a “hold” rating on shares of Boeing in a research note on Monday, April 1st. TD Cowen lowered their price objective on shares of Boeing from $275.00 to $230.00 and set an “outperform” rating for the company in a research note on Monday, March 25th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Boeing from $240.00 to $225.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. The Goldman Sachs Group lowered their price objective on shares of Boeing from $268.00 to $257.00 and set a “buy” rating for the company in a research note on Monday, March 25th. Finally, Barclays reduced their price target on shares of Boeing from $235.00 to $190.00 and set an “equal weight” rating for the company in a research report on Monday, April 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $222.41.

Boeing Stock Up 3.8 %

NYSE:BA opened at $173.53 on Monday. The company has a fifty day moving average of $185.92 and a 200-day moving average of $206.50. The firm has a market capitalization of $106.53 billion, a P/E ratio of -48.88 and a beta of 1.52. Boeing has a twelve month low of $159.70 and a twelve month high of $267.54.

Boeing (NYSE:BA) last released its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.25. The firm had revenue of $22.02 billion for the quarter, compared to analyst estimates of $21.14 billion. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.75) EPS.

Hedge Funds Weigh In On Boeing

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vermillion & White Wealth Management Group LLC bought a new stake in Boeing in the 4th quarter valued at about $26,000. DiNuzzo Private Wealth Inc. bought a new stake in Boeing in the 4th quarter valued at about $28,000. Evolution Advisers Inc. bought a new stake in Boeing in the 4th quarter valued at about $28,000. CNB Bank raised its stake in Boeing by 106.5% in the 3rd quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock valued at $25,000 after acquiring an additional 66 shares during the period. Finally, Vima LLC bought a new stake in Boeing in the 4th quarter valued at about $34,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

About Boeing

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.