Analysts expect that Boeing Co (NYSE:BA) will announce sales of $25.32 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Boeing’s earnings. The lowest sales estimate is $24.44 billion and the highest is $26.11 billion. Boeing reported sales of $23.38 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 8.3%. The firm is expected to report its next quarterly earnings results on Wednesday, April 24th.
According to Zacks, analysts expect that Boeing will report full year sales of $111.16 billion for the current year, with estimates ranging from $110.92 billion to $111.42 billion. For the next fiscal year, analysts forecast that the firm will report sales of $117.62 billion, with estimates ranging from $115.95 billion to $120.12 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Boeing.
Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, January 30th. The aircraft producer reported $5.48 earnings per share for the quarter, topping analysts’ consensus estimates of $4.52 by $0.96. The company had revenue of $28.34 billion during the quarter, compared to analysts’ expectations of $26.76 billion. Boeing had a negative return on equity of 4,286.60% and a net margin of 10.34%. Boeing’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.04 EPS.
A number of equities analysts recently weighed in on the company. Robert W. Baird reaffirmed an “outperform” rating and issued a $470.00 price target on shares of Boeing in a report on Thursday, January 31st. Sanford C. Bernstein reiterated an “outperform” rating and set a $459.00 price objective (up from $435.00) on shares of Boeing in a research note on Tuesday, February 5th. UBS Group reiterated a “buy” rating and set a $525.00 price objective (up from $500.00) on shares of Boeing in a research note on Thursday, February 28th. Argus boosted their price objective on Boeing from $420.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Finally, Tigress Financial reiterated a “buy” rating on shares of Boeing in a research note on Monday, November 26th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eighteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $409.94.
NYSE BA traded up $5.69 during trading hours on Friday, reaching $378.99. The company’s stock had a trading volume of 26,667,883 shares, compared to its average volume of 6,646,387. The stock has a market capitalization of $212.10 billion, a price-to-earnings ratio of 23.67, a PEG ratio of 1.37 and a beta of 1.36. Boeing has a 1-year low of $292.47 and a 1-year high of $446.01. The company has a current ratio of 1.08, a quick ratio of 0.31 and a debt-to-equity ratio of 25.99.
The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 8th were given a $2.055 dividend. The ex-dividend date was Thursday, February 7th. This is a positive change from Boeing’s previous quarterly dividend of $1.71. This represents a $8.22 dividend on an annualized basis and a dividend yield of 2.17%. Boeing’s dividend payout ratio is 51.34%.
Boeing announced that its board has initiated a share repurchase plan on Monday, December 17th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the aircraft producer to purchase up to 11.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
In other news, EVP Timothy John Keating sold 26,557 shares of the company’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $395.47, for a total value of $10,502,496.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Theodore Colbert III sold 2,137 shares of the company’s stock in a transaction that occurred on Monday, February 11th. The shares were sold at an average price of $408.85, for a total value of $873,712.45. The disclosure for this sale can be found here. Insiders sold 72,247 shares of company stock valued at $28,922,977 over the last 90 days. Company insiders own 0.24% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund grew its position in Boeing by 21,969.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 40,328,303 shares of the aircraft producer’s stock worth $125,000 after acquiring an additional 40,145,567 shares during the period. Newport Trust Co grew its position in Boeing by 4.2% in the fourth quarter. Newport Trust Co now owns 33,492,259 shares of the aircraft producer’s stock worth $10,801,254,000 after acquiring an additional 1,363,909 shares during the period. FMR LLC grew its position in Boeing by 2.3% in the fourth quarter. FMR LLC now owns 8,730,206 shares of the aircraft producer’s stock worth $2,815,492,000 after acquiring an additional 194,957 shares during the period. Jennison Associates LLC grew its position in Boeing by 3.2% in the fourth quarter. Jennison Associates LLC now owns 7,817,279 shares of the aircraft producer’s stock worth $2,521,073,000 after acquiring an additional 245,100 shares during the period. Finally, Geode Capital Management LLC grew its position in Boeing by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 6,262,103 shares of the aircraft producer’s stock worth $2,015,856,000 after acquiring an additional 214,945 shares during the period. Institutional investors and hedge funds own 69.78% of the company’s stock.
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.
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