Seaport Res Ptn Predicts Boeing’s FY2024 Earnings (NYSE:BA)

The Boeing Company (NYSE:BA) – Stock analysts at Seaport Res Ptn decreased their FY2024 earnings estimates for shares of Boeing in a research report issued to clients and investors on Monday, December 16th. Seaport Res Ptn analyst R. Safran now anticipates that the aircraft producer will earn ($17.22) per share for the year, down from their previous estimate of ($16.63). The consensus estimate for Boeing’s current full-year earnings is ($16.18) per share. Seaport Res Ptn also issued estimates for Boeing’s Q4 2024 earnings at ($2.75) EPS, Q1 2025 earnings at ($0.28) EPS, Q2 2025 earnings at ($0.31) EPS, Q3 2025 earnings at ($0.28) EPS, Q4 2025 earnings at ($0.25) EPS and FY2025 earnings at ($1.11) EPS.

Other analysts also recently issued research reports about the company. Benchmark reiterated a “buy” rating and issued a $250.00 price objective on shares of Boeing in a research report on Thursday, October 24th. Wells Fargo & Company reduced their target price on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Northcoast Research raised shares of Boeing from a “sell” rating to a “neutral” rating in a report on Thursday, December 12th. Citigroup reduced their price objective on shares of Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Finally, Morgan Stanley lowered their target price on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $190.11.

Boeing Stock Down 0.2 %

BA opened at $172.62 on Thursday. Boeing has a 12-month low of $137.03 and a 12-month high of $267.54. The firm has a market capitalization of $106.71 billion, a P/E ratio of -13.38 and a beta of 1.56. The stock’s 50 day moving average price is $153.97 and its two-hundred day moving average price is $166.04.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the prior year, the company posted ($3.26) earnings per share. The business’s revenue was down 1.5% compared to the same quarter last year.

Institutional Investors Weigh In On Boeing

A number of institutional investors and hedge funds have recently made changes to their positions in BA. Newport Trust Company LLC boosted its holdings in Boeing by 1.2% in the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock valued at $5,758,830,000 after acquiring an additional 388,633 shares during the last quarter. State Street Corp boosted its stake in shares of Boeing by 2.3% in the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after purchasing an additional 636,594 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Boeing by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock valued at $1,774,705,000 after purchasing an additional 320,415 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Boeing by 1.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock worth $1,386,757,000 after buying an additional 106,513 shares during the period. Finally, Jennison Associates LLC raised its stake in shares of Boeing by 9.9% during the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after buying an additional 602,143 shares during the last quarter. 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.