Boeing Co Forecasted to Earn Q3 2019 Earnings of $2.21 Per Share (NYSE:BA)

Boeing Co (NYSE:BA) – Stock analysts at Seaport Global Securities reduced their Q3 2019 earnings per share estimates for Boeing in a research report issued on Tuesday, October 15th. Seaport Global Securities analyst J. Sullivan now anticipates that the aircraft producer will post earnings per share of $2.21 for the quarter, down from their previous estimate of $2.35. Seaport Global Securities also issued estimates for Boeing’s Q4 2019 earnings at $3.76 EPS and FY2019 earnings at $3.31 EPS.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, July 24th. The aircraft producer reported $2.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $1.07. The firm had revenue of $15.75 billion during the quarter, compared to analyst estimates of $15.05 billion. Boeing had a negative return on equity of 632.24% and a net margin of 5.42%. Boeing’s quarterly revenue was down 35.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.33 EPS.

Several other research analysts have also commented on the company. Canaccord Genuity set a $380.00 target price on Boeing and gave the stock a “hold” rating in a research report on Friday, July 19th. Morgan Stanley set a $500.00 target price on Boeing and gave the stock a “buy” rating in a research report on Thursday, September 12th. Jefferies Financial Group decreased their target price on Boeing from $448.00 to $420.00 and set a “buy” rating for the company in a research report on Friday, July 19th. Goldman Sachs Group reiterated a “neutral” rating and issued a $375.00 target price on shares of Boeing in a research report on Friday, July 12th. Finally, Cowen set a $460.00 target price on Boeing and gave the stock a “buy” rating in a research report on Friday, October 11th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $402.42.

Shares of BA opened at $344.00 on Friday. The firm has a market cap of $207.67 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 12.51 and a beta of 1.25. The stock has a 50 day moving average of $373.16 and a 200-day moving average of $362.44. The company has a current ratio of 1.03, a quick ratio of 0.29 and a debt-to-equity ratio of 48.98. Boeing has a 52 week low of $292.47 and a 52 week high of $446.01.

Institutional investors have recently made changes to their positions in the business. NuWave Investment Management LLC raised its stake in shares of Boeing by 554.5% in the 2nd quarter. NuWave Investment Management LLC now owns 72 shares of the aircraft producer’s stock worth $26,000 after buying an additional 61 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Boeing by 128.1% in the 1st quarter. Nordea Investment Management AB now owns 73 shares of the aircraft producer’s stock worth $28,000 after buying an additional 41 shares in the last quarter. Guidant Wealth Advisors bought a new stake in shares of Boeing in the 2nd quarter worth $28,000. Atwater Malick LLC bought a new stake in shares of Boeing in the 3rd quarter worth $39,000. Finally, Transamerica Financial Advisors Inc. bought a new stake in shares of Boeing in the 2nd quarter worth $40,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

About Boeing

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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Earnings History and Estimates for Boeing (NYSE:BA)

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