Boeing (BA) Scheduled to Post Earnings on Wednesday

Boeing (NYSE:BA) will issue its quarterly earnings data before the market opens on Wednesday, April 24th. Analysts expect the company to announce earnings of ($1.08) per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.25. The business had revenue of $22.02 billion during the quarter, compared to the consensus estimate of $21.14 billion. During the same quarter last year, the firm posted ($1.75) earnings per share. Boeing’s revenue was up 10.2% compared to the same quarter last year. On average, analysts expect Boeing to post $0 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Boeing Trading Up 1.6 %

Shares of Boeing stock opened at $170.55 on Wednesday. The company’s 50-day moving average price is $192.69 and its two-hundred day moving average price is $207.80. Boeing has a 52 week low of $167.53 and a 52 week high of $267.54. The stock has a market cap of $104.06 billion, a PE ratio of -46.34, a price-to-earnings-growth ratio of 115.71 and a beta of 1.52.

Hedge Funds Weigh In On Boeing

Hedge funds have recently added to or reduced their stakes in the company. True Wealth Design LLC acquired a new position in Boeing in the fourth quarter worth approximately $33,000. Industrial Alliance Investment Management Inc. acquired a new position in Boeing in the fourth quarter worth approximately $41,000. Fortis Capital Advisors LLC grew its holdings in Boeing by 100.0% during the first quarter. Fortis Capital Advisors LLC now owns 200 shares of the aircraft producer’s stock valued at $42,000 after purchasing an additional 100 shares during the last quarter. Dagco Inc. acquired a new position in Boeing during the fourth quarter valued at approximately $48,000. Finally, KB Financial Partners LLC acquired a new position in Boeing during the second quarter valued at approximately $57,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BA. Royal Bank of Canada dropped their price target on shares of Boeing from $225.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday. Sanford C. Bernstein cut their price objective on Boeing from $272.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, April 8th. The Goldman Sachs Group cut their price objective on Boeing from $268.00 to $257.00 and set a “buy” rating on the stock in a report on Monday, March 25th. Northcoast Research downgraded Boeing from a “buy” rating to a “neutral” rating in a report on Friday, February 23rd. Finally, Bank of America cut their price objective on Boeing from $210.00 to $190.00 and set a “neutral” rating on the stock in a report on Thursday, April 11th. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $233.88.

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.