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Zacks: Brokerages Anticipate Boeing Co (NYSE:BA) Will Announce Quarterly Sales of $14.56 Billion

Last updated on Tuesday, September 29, 2020 | 2020 MarketBeat

Wall Street analysts predict that Boeing Co (NYSE:BA) will report sales of $14.56 billion for the current quarter, according to Zacks. Four analysts have made estimates for Boeing's earnings. The lowest sales estimate is $13.91 billion and the highest is $15.03 billion. Boeing reported sales of $19.98 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 27.1%. The firm is expected to report its next quarterly earnings results on Wednesday, October 28th.

According to Zacks, analysts expect that Boeing will report full-year sales of $58.98 billion for the current fiscal year, with estimates ranging from $56.46 billion to $62.67 billion. For the next year, analysts forecast that the firm will post sales of $82.90 billion, with estimates ranging from $75.36 billion to $94.64 billion. Zacks Investment Research's sales calculations are a mean average based on a survey of research firms that follow Boeing.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, July 29th. The aircraft producer reported ($4.79) earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of ($2.93) by ($1.86). The firm had revenue of $11.81 billion for the quarter, compared to the consensus estimate of $12.95 billion. Boeing had a negative return on equity of 3.08% and a negative net margin of 4.27%. The business's revenue for the quarter was down 25.0% on a year-over-year basis. During the same quarter last year, the firm posted ($5.82) earnings per share.

BA has been the topic of several research reports. Alembic Global Advisors upgraded Boeing from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $150.00 to $184.00 in a report on Monday. Wolfe Research raised Boeing from an "underperform" rating to a "peer perform" rating in a research note on Thursday, September 24th. Canaccord Genuity reaffirmed a "hold" rating and issued a $155.00 price objective on shares of Boeing in a research note on Monday, July 20th. ValuEngine lowered Boeing from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, September 1st. Finally, Goldman Sachs Group set a $225.00 price objective on Boeing and gave the stock a "buy" rating in a research note on Monday, September 21st. Six analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have given a buy rating to the stock. Boeing presently has a consensus rating of "Hold" and an average price target of $206.19.

NYSE:BA opened at $166.08 on Tuesday. The stock has a market cap of $93.74 billion, a P/E ratio of -32.89 and a beta of 1.37. The stock's 50-day moving average is $167.67 and its 200-day moving average is $160.85. Boeing has a 1-year low of $89.00 and a 1-year high of $383.77.

In other news, Director Steven M. Mollenkopf bought 1,152 shares of the stock in a transaction dated Wednesday, August 5th. The shares were bought at an average cost of $173.36 per share, with a total value of $199,710.72. Following the completion of the transaction, the director now directly owns 1,152 shares of the company's stock, valued at $199,710.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. Laidlaw Wealth Management LLC grew its stake in Boeing by 84,338.8% in the 2nd quarter. Laidlaw Wealth Management LLC now owns 6,738,216 shares of the aircraft producer's stock valued at $36,000 after purchasing an additional 6,730,236 shares during the period. Public Investment Fund bought a new position in Boeing in the 1st quarter valued at $713,677,000. Capital World Investors grew its stake in Boeing by 15.1% in the 1st quarter. Capital World Investors now owns 30,555,090 shares of the aircraft producer's stock valued at $4,556,991,000 after purchasing an additional 3,997,531 shares during the period. Loomis Sayles & Co. L P grew its stake in Boeing by 372,990.2% in the 1st quarter. Loomis Sayles & Co. L P now owns 3,152,612 shares of the aircraft producer's stock valued at $470,180,000 after purchasing an additional 3,151,767 shares during the period. Finally, Coatue Management LLC bought a new position in Boeing in the 2nd quarter valued at $504,079,000. Institutional investors and hedge funds own 52.57% of the company's stock.

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 in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

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Earnings History and Estimates for Boeing (NYSE:BA)

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