Boeing Co (NYSE:BA) – Research analysts at Seaport Global Securities raised their Q4 2017 earnings estimates for shares of Boeing in a research report issued on Wednesday. Seaport Global Securities analyst J. Sullivan now anticipates that the aircraft producer will post earnings of $2.94 per share for the quarter, up from their previous forecast of $2.72. Seaport Global Securities also issued estimates for Boeing’s Q3 2018 earnings at $2.97 EPS.
A number of other analysts have also recently commented on the company. Zacks Investment Research cut Boeing from a “buy” rating to a “hold” rating in a research report on Wednesday. Buckingham Research set a $203.00 price objective on Boeing and gave the company a “hold” rating in a research report on Thursday, December 28th. Vetr cut Boeing from a “hold” rating to a “sell” rating and set a $272.77 price objective for the company. in a research report on Thursday, December 28th. Cowen restated a “buy” rating and issued a $320.00 price objective on shares of Boeing in a research report on Monday, December 11th. Finally, JPMorgan Chase & Co. set a $325.00 price objective on Boeing and gave the company a “buy” rating in a research report on Tuesday, December 12th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company. Boeing currently has a consensus rating of “Hold” and an average target price of $274.67.
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, beating the Zacks’ 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 company had revenue of $24.31 billion during the quarter, compared to the consensus estimate of $24.09 billion. During the same period in the previous year, the company posted $3.51 earnings per share. Boeing’s revenue for the quarter was up 1.7% on a year-over-year basis.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 9th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 2.30%. This is a boost from Boeing’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Thursday, February 8th. Boeing’s payout ratio is presently 52.25%.
Boeing announced that its Board of Directors has initiated a stock buyback plan on Monday, December 11th that authorizes the company to repurchase $18.00 billion in shares. This repurchase authorization authorizes the aircraft producer to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.
Institutional investors and hedge funds have recently modified their holdings of the stock. Lipe & Dalton purchased a new stake in Boeing in the 3rd quarter valued at $100,000. Burt Wealth Advisors purchased a new stake in Boeing in the 3rd quarter valued at $100,000. Clear Perspective Advisors LLC grew its holdings in Boeing by 31.0% in the 2nd quarter. Clear Perspective Advisors LLC now owns 571 shares of the aircraft producer’s stock valued at $113,000 after buying an additional 135 shares in the last quarter. Vantage Investment Advisors LLC grew its holdings in Boeing by 11.1% in the 2nd quarter. Vantage Investment Advisors LLC now owns 841 shares of the aircraft producer’s stock valued at $123,000 after buying an additional 84 shares in the last quarter. Finally, CWH Capital Management Inc. purchased a new stake in Boeing in the 2nd quarter valued at $134,000. Hedge funds and other institutional investors own 70.84% of the company’s stock.
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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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