The Boeing Company (NYSE:BA) Expected to Post Q2 2024 Earnings of $0.32 Per Share

The Boeing Company (NYSE:BA) – Investment analysts at Zacks Research upped their Q2 2024 earnings per share estimates for shares of Boeing in a research report issued to clients and investors on Tuesday, August 29th. Zacks Research analyst A. Dutta now forecasts that the aircraft producer will post earnings of $0.32 per share for the quarter, up from their prior forecast of $0.25. The consensus estimate for Boeing’s current full-year earnings is ($1.98) per share. Zacks Research also issued estimates for Boeing’s Q3 2024 earnings at $2.01 EPS, Q2 2025 earnings at $1.13 EPS and FY2025 earnings at $7.14 EPS.

Several other equities analysts have also recently issued reports on the stock. Northcoast Research raised shares of Boeing from a “sell” rating to a “neutral” rating in a research note on Tuesday, August 1st. JPMorgan Chase & Co. raised their price target on shares of Boeing from $225.00 to $245.00 in a report on Thursday, July 27th. Susquehanna increased their price objective on shares of Boeing from $260.00 to $270.00 in a research report on Thursday, July 27th. SpectralCast reissued a “reiterates” rating on shares of Boeing in a research report on Wednesday, June 21st. Finally, Morgan Stanley raised their price objective on Boeing from $220.00 to $235.00 in a research note on Thursday, July 27th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $245.13.

Boeing Stock Performance

NYSE:BA opened at $228.89 on Wednesday. The company has a fifty day moving average of $222.21 and a two-hundred day moving average of $212.47. The stock has a market capitalization of $137.70 billion, a PE ratio of -30.56 and a beta of 1.41. Boeing has a fifty-two week low of $120.99 and a fifty-two week high of $243.10.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, July 26th. The aircraft producer reported ($0.82) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.99) by $0.17. The company had revenue of $19.75 billion during the quarter, compared to the consensus estimate of $18.59 billion. The business’s revenue was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.37) earnings per share.

Insider Activity

In other news, CEO Theodore Colbert III sold 8,500 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $238.37, for a total value of $2,026,145.00. Following the completion of the sale, the chief executive officer now directly owns 59,255 shares of the company’s stock, valued at $14,124,614.35. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Steven M. Mollenkopf acquired 850 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were purchased at an average price of $237.00 per share, for a total transaction of $201,450.00. Following the completion of the acquisition, the director now owns 3,767 shares in the company, valued at $892,779. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Theodore Colbert III sold 8,500 shares of Boeing stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $238.37, for a total value of $2,026,145.00. Following the sale, the chief executive officer now directly owns 59,255 shares in the company, valued at $14,124,614.35. The disclosure for this sale can be found here. 0.15% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Garde Capital Inc. boosted its stake in shares of Boeing by 7.7% during the second quarter. Garde Capital Inc. now owns 8,989 shares of the aircraft producer’s stock valued at $1,898,000 after purchasing an additional 640 shares in the last quarter. Bassett Hargrove Investment Counsel LLC increased its stake in shares of Boeing by 3.8% during the second quarter. Bassett Hargrove Investment Counsel LLC now owns 7,281 shares of the aircraft producer’s stock worth $1,537,000 after purchasing an additional 267 shares in the last quarter. Stonebridge Capital Advisors LLC boosted its position in Boeing by 4.1% during the second quarter. Stonebridge Capital Advisors LLC now owns 32,898 shares of the aircraft producer’s stock worth $6,947,000 after acquiring an additional 1,306 shares during the last quarter. Asset Dedication LLC boosted its holdings in Boeing by 2.8% in the 2nd quarter. Asset Dedication LLC now owns 16,058 shares of the aircraft producer’s stock valued at $3,367,000 after purchasing an additional 435 shares during the last quarter. Finally, BOKF NA raised its stake in shares of Boeing by 1.7% in the 2nd quarter. BOKF NA now owns 20,881 shares of the aircraft producer’s stock valued at $4,409,000 after acquiring an additional 347 shares during the period. Institutional investors own 61.33% of the company’s stock.

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