Boeing Co (NYSE:BA) – Stock analysts at Seaport Global Securities upped their Q1 2019 earnings per share (EPS) estimates for shares of Boeing in a report released on Monday, February 4th. Seaport Global Securities analyst J. Sullivan now anticipates that the aircraft producer will post earnings of $4.51 per share for the quarter, up from their previous estimate of $4.19. Seaport Global Securities also issued estimates for Boeing’s Q1 2020 earnings at $5.21 EPS, Q2 2020 earnings at $5.61 EPS, Q3 2020 earnings at $6.10 EPS, Q4 2020 earnings at $6.30 EPS and FY2020 earnings at $23.22 EPS.
Get Boeing alerts:Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, January 30th. The aircraft producer reported $5.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.52 by $0.96. The firm had revenue of $28.34 billion during the quarter, compared to the consensus estimate of $26.76 billion. Boeing had a negative return on equity of 4,286.60% and a net margin of 10.34%. The firm’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.04 EPS.
Several other equities analysts have also recently commented on the stock. Goldman Sachs Group set a $387.00 price target on shares of Boeing and gave the stock a “neutral” rating in a research report on Wednesday, October 24th. Jefferies Financial Group increased their price target on shares of Boeing from $415.00 to $420.00 and gave the stock a “buy” rating in a research report on Thursday, October 25th. Societe Generale set a $409.00 price target on shares of Boeing and gave the stock a “buy” rating in a research report on Thursday, October 25th. Argus reaffirmed a “fair value” rating and set a $395.00 price target on shares of Boeing in a research report on Thursday, October 25th. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $360.00 price target (up previously from $350.00) on shares of Boeing in a research report on Thursday, October 25th. Seven research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $412.08.
Shares of Boeing stock opened at $405.17 on Wednesday. The company has a debt-to-equity ratio of 25.99, a current ratio of 1.08 and a quick ratio of 0.31. The stock has a market cap of $232.94 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 1.49 and a beta of 1.31. Boeing has a 1-year low of $292.47 and a 1-year high of $413.88.
A number of hedge funds and other institutional investors have recently modified their holdings of BA. Smith Asset Management Group LP increased its stake in shares of Boeing by 5.5% in the second quarter. Smith Asset Management Group LP now owns 290,955 shares of the aircraft producer’s stock valued at $97,653,000 after purchasing an additional 15,274 shares during the period. Edgestream Partners L.P. increased its stake in shares of Boeing by 17.2% during the second quarter. Edgestream Partners L.P. now owns 3,173 shares of the aircraft producer’s stock valued at $1,065,000 after acquiring an additional 465 shares during the period. Monetta Financial Services Inc. increased its stake in shares of Boeing by 150.0% during the second quarter. Monetta Financial Services Inc. now owns 10,000 shares of the aircraft producer’s stock valued at $3,355,000 after acquiring an additional 6,000 shares during the period. Redwood Investments LLC increased its stake in shares of Boeing by 18.7% during the second quarter. Redwood Investments LLC now owns 35,526 shares of the aircraft producer’s stock valued at $11,919,000 after acquiring an additional 5,585 shares during the period. Finally, Sawtooth Solutions LLC acquired a new position in shares of Boeing during the second quarter valued at approximately $446,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.
In other Boeing news, EVP Timothy John Keating sold 26,557 shares of the firm’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $395.47, for a total value of $10,502,496.79. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.24% of the company’s stock.
Boeing declared that its board has approved a share buyback plan on Monday, December 17th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the aircraft producer to buy up to 11.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 8th will be issued a $2.055 dividend. The ex-dividend date is Thursday, February 7th. This represents a $8.22 dividend on an annualized basis and a yield of 2.03%. This is a boost from Boeing’s previous quarterly dividend of $1.71. Boeing’s dividend payout ratio (DPR) is currently 42.72%.
About Boeing
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 in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.
Featured Article: Candlestick
No comments:
Post a Comment