Boeing (NYSE:BA) Announces Quarterly Earnings Results

Boeing (NYSE:BA) posted its earnings results on Wednesday. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($4.85) by ($5.59), Briefing.com reports. The firm had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. The company’s revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the business earned ($3.26) earnings per share.

Boeing Stock Performance

BA traded down $3.25 during midday trading on Thursday, reaching $153.81. 5,561,208 shares of the company were exchanged, compared to its average volume of 8,108,207. The company has a market cap of $94.42 billion, a price-to-earnings ratio of -43.89 and a beta of 1.57. Boeing has a one year low of $146.02 and a one year high of $267.54. The company’s fifty day moving average price is $160.61 and its 200 day moving average price is $172.01.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BA shares. The Goldman Sachs Group cut their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. DZ Bank cut shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research report on Tuesday, October 15th. Susquehanna decreased their price target on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a report on Thursday. Benchmark reissued a “buy” rating and issued a $250.00 price objective on shares of Boeing in a research note on Thursday. Finally, Wells Fargo & Company decreased their target price on Boeing from $109.00 to $86.00 and set an “underweight” rating for the company in a research note on Thursday. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Boeing presently has an average rating of “Moderate Buy” and an average target price of $194.95.

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.