Analysts Expect Boeing Co (BA) Will Announce Quarterly Sales of $23.49 Billion

Analysts forecast that Boeing Co (NYSE:BA) will announce $23.49 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Boeing’s earnings, with the lowest sales estimate coming in at $23.03 billion and the highest estimate coming in at $23.87 billion. Boeing posted sales of $22.74 billion during the same quarter last year, which would indicate a positive year over year growth rate of 3.3%. The business is scheduled to issue its next quarterly earnings report on Wednesday, July 25th.

According to Zacks, analysts expect that Boeing will report full year sales of $98.20 billion for the current fiscal year, with estimates ranging from $97.81 billion to $98.83 billion. For the next year, analysts forecast that the company will post sales of $104.16 billion per share, with estimates ranging from $102.24 billion to $106.64 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Boeing.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, April 25th. The aircraft producer reported $3.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.59 by $1.05. Boeing had a return on equity of 3,774.27% and a net margin of 9.63%. The firm had revenue of $23.38 billion during the quarter, compared to analysts’ expectations of $22.22 billion. During the same period last year, the firm posted $2.01 EPS. The business’s revenue was up 6.5% on a year-over-year basis.

Several research analysts have recently weighed in on the stock. Morgan Stanley raised shares of Boeing to an “equal weight” rating in a research report on Tuesday, April 17th. Vetr downgraded Boeing from a “strong-buy” rating to a “buy” rating and set a $368.72 target price for the company. in a report on Monday, April 16th. Barclays reissued a “buy” rating and issued a $388.00 target price on shares of Boeing in a report on Wednesday, April 4th. Societe Generale raised Boeing from a “hold” rating to a “buy” rating in a report on Thursday, April 26th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Boeing in a report on Wednesday, March 14th. Seven equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $376.03.

In other Boeing news, EVP J Michael Luttig sold 9,000 shares of the company’s stock in a transaction dated Wednesday, May 9th. The stock was sold at an average price of $344.13, for a total value of $3,097,170.00. Following the transaction, the executive vice president now directly owns 27,878 shares of the company’s stock, valued at approximately $9,593,656.14. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Gregory L. Hyslop sold 2,241 shares of the company’s stock in a transaction dated Monday, May 7th. The stock was sold at an average price of $340.27, for a total value of $762,545.07. Following the completion of the transaction, the senior vice president now directly owns 21,425 shares in the company, valued at $7,290,284.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,373 shares of company stock valued at $4,233,094. 0.24% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its holdings in Boeing by 220.0% during the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 320 shares of the aircraft producer’s stock valued at $105,000 after buying an additional 220 shares during the last quarter. Advisors Preferred LLC acquired a new position in shares of Boeing in the 1st quarter valued at $111,000. Stonehearth Capital Management LLC acquired a new position in shares of Boeing in the 4th quarter valued at $105,000. Solaris Asset Management LLC acquired a new position in shares of Boeing in the 4th quarter valued at $111,000. Finally, Lucia Wealth Services LLC acquired a new position in shares of Boeing in the 1st quarter valued at $126,000. 69.40% of the stock is currently owned by institutional investors and hedge funds.

Boeing traded up $1.25, hitting $338.91, during trading on Thursday, Marketbeat.com reports. The company had a trading volume of 3,298,084 shares, compared to its average volume of 3,799,507. The company has a market capitalization of $196.71 billion, a PE ratio of 28.15, a P/E/G ratio of 1.67 and a beta of 1.38. Boeing has a 52-week low of $196.45 and a 52-week high of $374.48. The company has a debt-to-equity ratio of 8.07, a current ratio of 1.15 and a quick ratio of 0.33.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 1st. Investors of record on Friday, May 11th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Thursday, May 10th. This represents a $6.84 dividend on an annualized basis and a yield of 2.02%. Boeing’s payout ratio is currently 56.81%.

Boeing Company Profile

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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