Boeing Company (The) (BA) Expected to Post Quarterly Sales of $23.79 Billion

Analysts expect Boeing Company (The) (NYSE:BA) to post sales of $23.79 billion for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Boeing Company (The)’s earnings. The lowest sales estimate is $23.20 billion and the highest is $24.26 billion. Boeing Company (The) reported sales of $23.90 billion during the same quarter last year, which would suggest a negative year over year growth rate of 0.5%. The business is scheduled to issue its next earnings report on Wednesday, October 25th.

According to Zacks, analysts expect that Boeing Company (The) will report full year sales of $23.79 billion for the current year, with estimates ranging from $91.21 billion to $92.21 billion. For the next year, analysts anticipate that the business will report sales of $93.57 billion per share, with estimates ranging from $91.07 billion to $95.55 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Boeing Company (The).

Boeing Company (The) (NYSE:BA) last announced its quarterly earnings data on Wednesday, July 26th. The aircraft producer reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.23. Boeing Company (The) had a net margin of 7.84% and a return on equity of 2,185.10%. The firm had revenue of $22.74 billion for the quarter, compared to analysts’ expectations of $22.97 billion. During the same period last year, the firm earned ($0.44) earnings per share. The business’s revenue for the quarter was down 8.1% on a year-over-year basis.

A number of analysts recently issued reports on BA shares. Zacks Investment Research upgraded Boeing Company (The) from a “hold” rating to a “buy” rating and set a $228.00 target price on the stock in a research note on Tuesday, July 11th. Berenberg Bank set a $245.00 price target on Boeing Company (The) and gave the company a “buy” rating in a research note on Friday, July 21st. Credit Suisse Group restated a “sell” rating on shares of Boeing Company (The) in a research note on Friday, July 28th. Vetr upgraded Boeing Company (The) from a “buy” rating to a “strong-buy” rating and set a $199.85 price target on the stock in a research note on Thursday, May 18th. Finally, J P Morgan Chase & Co upgraded Boeing Company (The) from a “neutral” rating to an “overweight” rating and raised their price target for the company from $205.00 to $240.00 in a research note on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Boeing Company (The) has an average rating of “Buy” and an average price target of $232.08.

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In related news, SVP Thomas J. Downey sold 134 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $241.20, for a total transaction of $32,320.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Dennis A. Muilenburg sold 56,838 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $243.46, for a total value of $13,837,779.48. Following the sale, the chairman now owns 127,778 shares of the company’s stock, valued at $31,108,831.88. The disclosure for this sale can be found here. Insiders sold 83,468 shares of company stock valued at $20,353,814 over the last 90 days. Company insiders own 0.28% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Boys Arnold & Co. Inc. boosted its stake in Boeing Company (The) by 7.1% during the first quarter. Boys Arnold & Co. Inc. now owns 6,094 shares of the aircraft producer’s stock worth $1,078,000 after buying an additional 402 shares during the last quarter. Johanson Financial Advisors Inc. acquired a new position in Boeing Company (The) during the first quarter worth $643,000. Gemmer Asset Management LLC boosted its stake in Boeing Company (The) by 50.6% during the first quarter. Gemmer Asset Management LLC now owns 899 shares of the aircraft producer’s stock worth $159,000 after buying an additional 302 shares during the last quarter. Oakbrook Investments LLC boosted its stake in Boeing Company (The) by 18.9% during the first quarter. Oakbrook Investments LLC now owns 5,193 shares of the aircraft producer’s stock worth $918,000 after buying an additional 825 shares during the last quarter. Finally, Huntington Steele LLC boosted its stake in Boeing Company (The) by 3.3% during the first quarter. Huntington Steele LLC now owns 2,172 shares of the aircraft producer’s stock worth $384,000 after buying an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 72.31% of the company’s stock.

Boeing Company (NYSE BA) traded down 0.20% during midday trading on Tuesday, reaching $240.12. 782,025 shares of the company traded hands. The company has a 50 day moving average of $236.36 and a 200-day moving average of $199.32. Boeing Company has a 12-month low of $126.34 and a 12-month high of $246.49. The stock has a market capitalization of $141.93 billion, a P/E ratio of 21.04 and a beta of 1.18.

The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 11th were issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend was Wednesday, August 9th. Boeing Company (The)’s payout ratio is presently 49.74%.

About Boeing Company (The)

The Boeing Company is an aerospace company. The Company’s segments include Commercial Airplanes; Defense, Space & Security (BDS), such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). The Commercial Airplanes segment develops, produces and markets commercial jet aircraft and provides related support services, to the commercial airline industry.

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Earnings History and Estimates for Boeing Company (The) (NYSE:BA)

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