FY2024 Earnings Forecast for Boeing Issued By Zacks Research

The Boeing Company (NYSE:BA) – Analysts at Zacks Research boosted their FY2024 earnings per share estimates for shares of Boeing in a research note issued on Monday, December 2nd. Zacks Research analyst R. Department now anticipates that the aircraft producer will post earnings of ($16.94) per share for the year, up from their prior estimate of ($16.99). The consensus estimate for Boeing’s current full-year earnings is ($16.19) per share. Zacks Research also issued estimates for Boeing’s Q4 2024 earnings at ($2.47) EPS, FY2025 earnings at ($2.68) EPS, Q3 2026 earnings at ($0.25) EPS and FY2026 earnings at ($0.02) EPS.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the prior year, the business earned ($3.26) earnings per share. The business’s quarterly revenue was down 1.5% compared to the same quarter last year.

Several other equities research analysts have also recently weighed in on BA. Citigroup decreased their price target on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Robert W. Baird decreased their price target on Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Morgan Stanley decreased their price target on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. JPMorgan Chase & Co. cut their target price on Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Boeing in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $190.11.

Boeing Stock Down 1.0 %

Shares of BA opened at $155.04 on Wednesday. Boeing has a 12-month low of $137.03 and a 12-month high of $267.54. The business has a 50-day simple moving average of $151.47 and a two-hundred day simple moving average of $166.95. The stock has a market cap of $95.85 billion, a PE ratio of -12.02 and a beta of 1.56.

Institutional Trading of Boeing

A number of institutional investors and hedge funds have recently modified their holdings of the business. Hobbs Group Advisors LLC purchased a new stake in Boeing in the second quarter worth $34,000. RPg Family Wealth Advisory LLC purchased a new stake in Boeing in the third quarter worth $28,000. Kiely Wealth Advisory Group Inc. bought a new position in shares of Boeing in the second quarter worth $33,000. Cedar Wealth Management LLC bought a new position in shares of Boeing in the third quarter worth $30,000. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Boeing by 351.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after acquiring an additional 165 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

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.