Jefferies Group Equities Analysts Increase Earnings Estimates for Boeing Co. (BA)
Boeing Co. (NYSE:BA) – Equities researchers at Jefferies Group upped their FY2016 EPS estimates for Boeing in a research note issued on Thursday. Jefferies Group analyst H. Rubel now forecasts that the brokerage will earn $6.25 per share for the year, up from their previous estimate of $6.20. Jefferies Group currently has a “Positive” rating and a $165.00 target price on the stock. Jefferies Group also issued estimates for Boeing’s Q4 2016 earnings at $2.40 EPS, FY2017 earnings at $9.45 EPS and FY2018 earnings at $10.00 EPS.
Other equities research analysts also recently issued reports about the company. Drexel Hamilton reiterated a “buy” rating and issued a $158.00 price target on shares of Boeing in a report on Friday, July 15th. Deutsche Bank AG reiterated a “buy” rating and issued a $160.00 price target on shares of Boeing in a report on Monday, June 20th. Goldman Sachs Group Inc. set a $107.00 price target on Boeing and gave the company a “sell” rating in a report on Thursday, July 28th. Barclays PLC lowered their price target on Boeing from $155.00 to $150.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Bank of America Corp. reiterated an “underperform” rating and issued a $125.00 price target on shares of Boeing in a report on Wednesday, July 6th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Boeing presently has an average rating of “Hold” and an average price target of $147.94.
Shares of Boeing (NYSE:BA) traded down 0.73% on Friday, hitting $133.44. The stock had a trading volume of 2,536,579 shares. Boeing has a 12-month low of $102.10 and a 12-month high of $150.59. The firm has a market cap of $83.24 billion, a P/E ratio of 24.02 and a beta of 1.03. The company’s 50-day moving average price is $131.41 and its 200 day moving average price is $131.15.
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Boeing (NYSE:BA) last released its earnings results on Wednesday, July 27th. The aircraft producer reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.48. Boeing had a return on equity of 82.66% and a net margin of 3.84%. The company earned $24.80 million during the quarter, compared to the consensus estimate of $23.22 million. During the same quarter last year, the company earned $1.62 earnings per share. Boeing’s quarterly revenue was up .9% compared to the same quarter last year.
In other Boeing news, Director Randall L. Stephenson bought 1,871 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was purchased at an average price of $133.89 per share, for a total transaction of $250,508.19. Following the purchase, the director now directly owns 3,721 shares in the company, valued at $498,204.69. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Diana L. Sands sold 14,151 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $133.06, for a total value of $1,882,932.06. The disclosure for this sale can be found here. Corporate insiders own 0.58% of the company’s stock.
A number of hedge funds have recently made changes to their positions in BA. Nelson Roberts Investment Advisors LLC increased its stake in shares of Boeing by 23.7% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 940 shares of the aircraft producer’s stock worth $122,000 after buying an additional 180 shares in the last quarter. Van Hulzen Asset Management LLC increased its stake in shares of Boeing by 11.1% in the second quarter. Van Hulzen Asset Management LLC now owns 1,000 shares of the aircraft producer’s stock worth $130,000 after buying an additional 100 shares in the last quarter. Cascade Investment Advisors Inc. purchased a new stake in shares of Boeing during the second quarter worth approximately $136,000. SevenBridge Financial Group LLC purchased a new stake in shares of Boeing during the second quarter worth approximately $142,000. Finally, Kelly Lawrence W & Associates Inc. CA increased its stake in shares of Boeing by 25.5% in the second quarter. Kelly Lawrence W & Associates Inc. CA now owns 1,155 shares of the aircraft producer’s stock worth $150,000 after buying an additional 235 shares in the last quarter. Hedge funds and other institutional investors own 75.46% of the company’s stock.
The Boeing Company is an aerospace firm. The Company operates in five segments: Commercial airplanes; Defense, Space & Security (BDS) business, such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). Its Commercial Airplanes segment develops, produces and markets commercial jet aircraft, which provides related support services to the commercial airline industry.
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