Credit Suisse Group Reiterates Outperform Rating for Boeing (BA)

Credit Suisse Group reaffirmed their outperform rating on shares of Boeing (NYSE:BA) in a report issued on Friday, MarketBeat.com reports. The firm currently has a $375.00 price objective on the aircraft producer’s stock, up from their previous price objective of $310.00. The analysts noted that the move was a valuation call.

BA has been the subject of several other research reports. Buckingham Research reiterated a hold rating and set a $203.00 price target on shares of Boeing in a report on Friday, December 22nd. Jefferies Group reiterated a buy rating and set a $339.00 price target on shares of Boeing in a report on Monday, January 8th. Deutsche Bank upped their price objective on Boeing to $300.00 and gave the company a buy rating in a research note on Thursday, September 14th. Nord/LB set a $250.00 price objective on Boeing and gave the company a neutral rating in a research note on Thursday, November 2nd. Finally, Zacks Investment Research upgraded Boeing from a hold rating to a buy rating and set a $330.00 price objective for the company in a research note on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the company. Boeing presently has an average rating of Hold and a consensus target price of $280.74.

Shares of Boeing (NYSE:BA) traded up $8.09 during trading on Friday, reaching $336.21. The company had a trading volume of 6,556,533 shares, compared to its average volume of 3,830,000. Boeing has a 1-year low of $156.67 and a 1-year high of $336.88. The company has a market capitalization of $200,240.00, a P/E ratio of 30.93, a P/E/G ratio of 2.16 and a beta of 1.23. The company has a debt-to-equity ratio of 8.54, a current ratio of 1.18 and a quick ratio of 0.39.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.65 by $0.07. Boeing had a return on equity of 12,064.25% and a net margin of 7.33%. The business had revenue of $24.31 billion during the quarter, compared to the consensus estimate of $24.09 billion. During the same quarter in the prior year, the company posted $3.51 earnings per share. Boeing’s revenue was up 1.7% compared to the same quarter last year. sell-side analysts anticipate that Boeing will post 10.14 EPS for the current fiscal year.

Boeing declared that its Board of Directors has approved a share repurchase plan on Monday, December 11th that permits the company to buyback $18.00 billion in outstanding shares. This buyback authorization permits the aircraft producer to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 9th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Thursday, February 8th. This is a boost from Boeing’s previous quarterly dividend of $1.42. Boeing’s dividend payout ratio is currently 52.25%.

Hedge funds and other institutional investors have recently modified their holdings of the company. LMR Partners LLP purchased a new position in shares of Boeing during the 2nd quarter valued at $4,904,000. Allegis Investment Advisors LLC purchased a new stake in Boeing during the 2nd quarter worth about $351,000. Blair William & Co. IL lifted its holdings in Boeing by 4.1% during the 2nd quarter. Blair William & Co. IL now owns 157,623 shares of the aircraft producer’s stock worth $31,170,000 after purchasing an additional 6,141 shares in the last quarter. Alps Advisors Inc. lifted its holdings in Boeing by 46.4% during the 2nd quarter. Alps Advisors Inc. now owns 4,832 shares of the aircraft producer’s stock worth $956,000 after purchasing an additional 1,532 shares in the last quarter. Finally, Texas Yale Capital Corp. lifted its holdings in Boeing by 1.2% during the 2nd quarter. Texas Yale Capital Corp. now owns 25,499 shares of the aircraft producer’s stock worth $5,042,000 after purchasing an additional 305 shares in the last quarter. 70.84% of the stock is currently owned by hedge funds and other institutional investors.

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Boeing Company Profile

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.

Analyst Recommendations for Boeing (NYSE:BA)

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