William Blair Weighs in on The Boeing Company’s Q2 2024 Earnings (NYSE:BA)

The Boeing Company (NYSE:BA) – William Blair dropped their Q2 2024 earnings per share estimates for shares of Boeing in a note issued to investors on Wednesday, April 24th. William Blair analyst L. Dipalma now anticipates that the aircraft producer will post earnings of ($1.23) per share for the quarter, down from their prior estimate of $0.86. The consensus estimate for Boeing’s current full-year earnings is ($0.30) per share. William Blair also issued estimates for Boeing’s Q3 2024 earnings at $0.92 EPS, Q4 2024 earnings at $1.06 EPS, FY2024 earnings at ($0.38) EPS and FY2025 earnings at $6.56 EPS.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share 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 analysts’ expectations of $21.14 billion. Boeing’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.75) EPS.

BA has been the topic of several other research reports. Benchmark restated a “buy” rating and set a $250.00 target price on shares of Boeing in a research report on Tuesday, March 26th. Edward Jones downgraded Boeing from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Susquehanna reduced their target price on Boeing from $265.00 to $230.00 and set a “positive” rating for the company in a report on Thursday, March 21st. Citigroup lowered their price target on shares of Boeing from $252.00 to $224.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Sanford C. Bernstein cut their price objective on shares of Boeing from $272.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Boeing has an average rating of “Moderate Buy” and an average target price of $222.41.

Boeing Trading Up 0.2 %

BA opened at $167.22 on Monday. The company has a 50 day moving average of $186.53 and a 200 day moving average of $206.63. Boeing has a 12 month low of $159.70 and a 12 month high of $267.54. The company has a market cap of $102.65 billion, a PE ratio of -47.10, a price-to-earnings-growth ratio of 140.43 and a beta of 1.52.

Institutional Investors Weigh In On Boeing

Large investors have recently added to or reduced their stakes in the company. Capital Research Global Investors lifted its position in Boeing by 35.5% in the 4th quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock worth $4,400,109,000 after buying an additional 4,425,964 shares during the last quarter. Jennison Associates LLC purchased a new position in shares of Boeing during the fourth quarter worth approximately $960,397,000. Wellington Management Group LLP lifted its holdings in shares of Boeing by 563.9% in the 4th quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock worth $896,434,000 after acquiring an additional 2,921,043 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Boeing by 23.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock worth $2,560,466,000 after acquiring an additional 1,884,850 shares during the last quarter. Finally, Boston Partners boosted its stake in shares of Boeing by 861.6% in the 4th quarter. Boston Partners now owns 1,804,853 shares of the aircraft producer’s stock valued at $467,338,000 after purchasing an additional 1,617,151 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Company Profile

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.