The Boeing Company Rating Reiterated by Zacks (BA)
The Boeing Company (NYSE:BA)‘s stock had its “neutral” rating restated by Zacks in a research note issued to investors on Tuesday. They currently have a $127.00 price objective on the stock. Zacks‘s target price would suggest a potential upside of 5.13% from the company’s current price.
Zacks’ analyst wrote, “We are maintaining our recommendation on Boeing at Neutral following its second quarter earnings release. The company’s bottom line was above the Street expectation while the top line missed the same. It reported impressive second quarter earnings as strong commercial margins, large tax settlements and large buybacks offset soft revenues and a charge on the KC-46. Although its defense segment experienced a margin contraction, sequestration and budget cuts notwithstanding, this section continued to win substantial defense orders. Boeing’s strong balance sheet and cash flows provide financial flexibility for incremental dividend, ongoing share repurchases and earnings accretive acquisitions. Nevertheless, this defense giant faces the risk of U.S. defense budget cuts, the uncertain fate of high-cost programs, risks related to key project executions and order cancellations. “
BA has been the subject of a number of other recent research reports. Analysts at CRT Capital raised their price target on shares of The Boeing Company from $165.00 to $169.00 in a research note on Thursday, August 7th. They now have a “buy” rating on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of The Boeing Company in a research note on Thursday, July 24th. They now have a $168.00 price target on the stock, up previously from $167.00. Finally, analysts at ING Group downgraded shares of The Boeing Company from a “buy” rating to a “neutral” rating in a research note on Thursday, July 24th. They now have a $140.00 price target on the stock, down previously from $154.00. Ten analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $149.79.
Shares of The Boeing Company (NYSE:BA) traded down 0.26% during mid-day trading on Tuesday, hitting $120.49. The stock had a trading volume of 1,967,198 shares. The Boeing Company has a 52 week low of $101.77 and a 52 week high of $144.57. The stock has a 50-day moving average of $125.5 and a 200-day moving average of $128.1. The company has a market cap of $86.827 billion and a P/E ratio of 18.30.
The Boeing Company (NYSE:BA) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $2.42 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.98 by $0.44. The company had revenue of $22.05 billion for the quarter, compared to the consensus estimate of $22.47 billion. During the same quarter in the prior year, the company posted $1.67 earnings per share. The company’s quarterly revenue was up 1.1% on a year-over-year basis. On average, analysts predict that The Boeing Company will post $8.22 earnings per share for the current fiscal year.
The Boeing Company (NYSE:BA) is an aerospace company.
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