The Boeing Company (NYSE:BA) Expected to Announce Quarterly Sales of $18.94 Billion

Wall Street analysts expect that The Boeing Company (NYSE:BA – Get Rating) will announce $18.94 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Boeing’s earnings. The highest sales estimate is $20.39 billion and the lowest is $17.07 billion. Boeing reported sales of $17.00 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 11.4%. The business is expected to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Boeing will report full year sales of $78.40 billion for the current financial year, with estimates ranging from $71.51 billion to $84.27 billion. For the next financial year, analysts expect that the company will report sales of $91.92 billion, with estimates ranging from $88.17 billion to $94.34 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Boeing.

Boeing (NYSE:BA – Get Rating) last released its quarterly earnings results on Wednesday, April 27th. The aircraft producer reported ($2.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($2.48). The firm had revenue of $13.99 billion for the quarter, compared to analyst estimates of $15.90 billion. During the same quarter in the prior year, the company earned ($1.53) EPS. The business’s quarterly revenue was down 8.1% on a year-over-year basis.

A number of research analysts have commented on BA shares. Cowen decreased their target price on shares of Boeing from $265.00 to $230.00 and set an “outperform” rating on the stock in a research report on Monday, March 7th. Robert W. Baird cut their price target on shares of Boeing from $306.00 to $245.00 in a research note on Thursday, April 28th. Langenberg & Company started coverage on shares of Boeing in a research note on Wednesday, March 9th. They set a “buy” rating on the stock. JPMorgan Chase & Co. cut their target price on shares of Boeing from $235.00 to $190.00 in a research note on Thursday, April 28th. Finally, Royal Bank of Canada lowered their price target on Boeing from $265.00 to $220.00 in a report on Thursday, April 28th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $229.24.

In related news, Director Lawrence W. Kellner acquired 5,000 shares of Boeing stock in a transaction that occurred on Monday, February 14th. The stock was acquired at an average price of $208.91 per share, for a total transaction of $1,044,550.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.11% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the company. CastleArk Alternatives LLC acquired a new stake in shares of Boeing during the third quarter worth $3,761,000. Cubist Systematic Strategies LLC boosted its position in Boeing by 47.0% during the third quarter. Cubist Systematic Strategies LLC now owns 55,867 shares of the aircraft producer’s stock worth $12,287,000 after purchasing an additional 17,869 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its position in Boeing by 13.0% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 23,486 shares of the aircraft producer’s stock worth $5,166,000 after purchasing an additional 2,700 shares during the period. Allworth Financial LP boosted its position in Boeing by 11.3% during the fourth quarter. Allworth Financial LP now owns 10,140 shares of the aircraft producer’s stock worth $2,041,000 after purchasing an additional 1,029 shares during the period. Finally, Wealthspire Advisors LLC boosted its position in Boeing by 13.6% during the third quarter. Wealthspire Advisors LLC now owns 5,009 shares of the aircraft producer’s stock worth $1,102,000 after purchasing an additional 600 shares during the period. Institutional investors and hedge funds own 53.96% of the company’s stock.

NYSE:BA opened at $153.58 on Wednesday. The firm has a market cap of $90.86 billion, a price-to-earnings ratio of -18.57, a price-to-earnings-growth ratio of 15.09 and a beta of 1.47. The company has a 50 day moving average price of $181.56 and a 200-day moving average price of $199.69. Boeing has a 1-year low of $143.38 and a 1-year high of $258.40.

Boeing Company Profile (Get Rating)

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 through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

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