The Boeing Company (NYSE:BA) - Equities researchers at Seaport Global Securities dropped their FY2020 earnings estimates for The Boeing in a note issued to investors on Wednesday, October 21st. Seaport Global Securities analyst R. Safran now anticipates that the aircraft producer will post earnings per share of ($11.23) for the year, down from their prior estimate of ($10.43). Seaport Global Securities also issued estimates for The Boeing's Q4 2020 earnings at ($2.03) EPS.
A number of other brokerages also recently weighed in on BA. Sanford C. Bernstein downgraded shares of The Boeing from an "outperform" rating to a "market perform" rating and set a $165.00 target price for the company. in a research note on Friday, June 26th. Morgan Stanley started coverage on shares of The Boeing in a research note on Tuesday, September 8th. They set an "underweight" rating and a $181.00 target price for the company. 140166 reduced their price target on shares of The Boeing from $240.00 to $210.00 in a research report on Thursday, July 30th. Alembic Global Advisors raised shares of The Boeing from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $150.00 to $184.00 in a research report on Monday, September 28th. Finally, Wolfe Research upgraded shares of The Boeing from an "underperform" rating to a "peer perform" rating in a research note on Thursday, September 24th. Six research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of "Hold" and an average price target of $206.82.
Shares of BA opened at $169.07 on Friday. The Boeing has a one year low of $89.00 and a one year high of $375.60. The company has a 50-day simple moving average of $164.07 and a two-hundred day simple moving average of $162.59. The firm has a market capitalization of $95.43 billion, a PE ratio of -33.48 and a beta of 1.37. The Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, July 29th. The aircraft producer reported ($4.79) EPS for the quarter, missing the Thomson Reuters' consensus estimate of ($2.93) by ($1.86). The Boeing had a negative return on equity of 3.08% and a negative net margin of 4.27%. The company had revenue of $11.81 billion during the quarter, compared to analysts' expectations of $12.95 billion. During the same quarter last year, the business earned ($5.82) earnings per share. The business's quarterly revenue was down 25.0% on a year-over-year basis.
In other news, Director Steven M. Mollenkopf purchased 1,152 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The stock was bought at an average price of $173.36 per share, for a total transaction of $199,710.72. Following the completion of the purchase, the director now directly owns 1,152 shares of the company's stock, valued at $199,710.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.16% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the company. Harbour Investment Management LLC acquired a new stake in shares of The Boeing during the 3rd quarter valued at $309,000. Ballentine Partners LLC increased its stake in The Boeing by 9.6% in the third quarter. Ballentine Partners LLC now owns 4,106 shares of the aircraft producer's stock valued at $678,000 after acquiring an additional 359 shares during the last quarter. Venture Visionary Partners LLC increased its stake in The Boeing by 77.6% in the third quarter. Venture Visionary Partners LLC now owns 4,306 shares of the aircraft producer's stock valued at $729,000 after acquiring an additional 1,882 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. increased its stake in The Boeing by 17.6% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,000 shares of the aircraft producer's stock valued at $331,000 after acquiring an additional 300 shares during the last quarter. Finally, Truadvice LLC bought a new position in The Boeing in the third quarter valued at $686,000. Institutional investors and hedge funds own 52.57% of the company's stock.
The Boeing Company Profile
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 through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.
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7 Stocks That Don’t Care Who Wins the Election
Many investors confuse volatility in an election year with the market performance during an election year. Historically, investors don’t care all that much who wins the election.
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View the "7 Stocks That Don’t Care Who Wins the Election".