Research Analysts Issue Forecasts for The Boeing Company’s Q1 2024 Earnings (NYSE:BA)

The Boeing Company (NYSE:BA) – Equities research analysts at Seaport Res Ptn issued their Q1 2024 earnings per share estimates for Boeing in a report issued on Wednesday, April 17th. Seaport Res Ptn analyst R. Safran expects that the aircraft producer will post earnings per share of ($2.03) for the quarter. The consensus estimate for Boeing’s current full-year earnings is $0.37 per share. Seaport Res Ptn also issued estimates for Boeing’s Q2 2024 earnings at ($0.34) EPS, Q3 2024 earnings at $0.42 EPS, Q4 2024 earnings at $1.70 EPS, FY2024 earnings at ($0.25) EPS, Q2 2025 earnings at $2.17 EPS and Q3 2025 earnings at $2.31 EPS.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.25. The company had revenue of $22.02 billion during the quarter, compared to the consensus estimate of $21.14 billion. During the same quarter in the prior year, the company earned ($1.75) earnings per share. Boeing’s revenue was up 10.2% on a year-over-year basis.

BA has been the subject of several other reports. Northcoast Research downgraded Boeing from a “neutral” rating to a “sell” rating and set a $140.00 price objective for the company. in a report on Wednesday. Melius restated a “hold” rating on shares of Boeing in a report on Monday, April 1st. JPMorgan Chase & Co. dropped their price objective on shares of Boeing from $230.00 to $210.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. The Goldman Sachs Group reduced their price objective on shares of Boeing from $268.00 to $257.00 and set a “buy” rating for the company in a research note on Monday, March 25th. Finally, UBS Group cut their price target on Boeing from $275.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $229.35.

Boeing Stock Down 0.2 %

Shares of NYSE BA opened at $169.84 on Friday. Boeing has a twelve month low of $167.53 and a twelve month high of $267.54. The business has a fifty day simple moving average of $190.29 and a two-hundred day simple moving average of $207.16. The firm has a market cap of $103.63 billion, a PE ratio of -46.15, a price-to-earnings-growth ratio of 116.16 and a beta of 1.52.

Institutional Investors Weigh In On Boeing

Institutional investors and hedge funds have recently made changes to their positions in the stock. United Bank increased its holdings in shares of Boeing by 4.7% in the first quarter. United Bank now owns 5,036 shares of the aircraft producer’s stock valued at $964,000 after purchasing an additional 226 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its position in Boeing by 1,064.4% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 850 shares of the aircraft producer’s stock worth $163,000 after buying an additional 777 shares during the last quarter. Panagora Asset Management Inc. lifted its stake in Boeing by 68.0% during the 1st quarter. Panagora Asset Management Inc. now owns 7,111 shares of the aircraft producer’s stock valued at $1,362,000 after acquiring an additional 2,879 shares during the period. Prudential PLC purchased a new stake in shares of Boeing in the 1st quarter valued at $836,000. Finally, Dakota Wealth Management increased its stake in shares of Boeing by 26.7% in the first quarter. Dakota Wealth Management now owns 2,127 shares of the aircraft producer’s stock worth $408,000 after acquiring an additional 448 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.

About Boeing

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.