Boeing (NYSE:BA) Stock Price Up 1.4% - Here's What Happened

Key Points

• Boeing shares rose 1.4% to about $208.61 in mid-day trading, with volume slightly below the stock’s average.
• Potential catalysts include a reported Ethiopian Airlines order for up to 10 freighters, an Argus upgrade to Buy, satellite-delivery progress and an approximately $85 billion defense backlog. However, engineers have authorized a possible strike, creating a significant production and cost risk.
• Analyst sentiment remains mixed but leans positive, with a consensus “Moderate Buy” rating and $272.58 target price. Boeing’s latest quarter included an adjusted loss that missed estimates, despite 8% year-over-year revenue growth.

The Boeing Company (NYSE:BA - Get Free Report)'s share price was up 1.4% during mid-day trading on Wednesday . The stock traded as high as $210.65 and last traded at $208.6050. 6,353,705 shares changed hands during trading, a decline of 5% from the average daily volume of 6,653,219 shares. The stock had previously closed at $205.66.

Key Boeing News

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Potential Ethiopian Airlines freighter order: Ethiopian Airlines is reportedly nearing an agreement to purchase up to 10 long-haul Boeing freighters. Although the deal is not yet finalized, it would support Boeing’s backlog and strengthen its position in the growing cargo-aircraft market. Ethiopian Airlines nears Boeing cargo plane order
• Positive Sentiment: Argus upgraded Boeing to Buy: Argus cited Boeing’s second-quarter cash-flow turnaround, substantial order backlog, expected sales growth and improving margins. The upgrade suggests confidence that production and profitability issues are gradually being addressed. Q2 Cash Flow Turnaround Supports Boeing’s Rating Upgrade
• Positive Sentiment: Satellite-delivery milestone: Boeing delivered the final group of mPower communications satellites, providing a positive operational update for its space business and helping counter some of the division’s past execution concerns. Boeing Delivers Final Round of mPower Satellites
• Positive Sentiment: Defense remains a growth opportunity: Boeing’s defense unit has an approximately $85 billion backlog, with several programs moving into low-rate production. This could diversify revenue and provide longer-term growth if execution improves. Can Boeing’s Defense Business Become a Bigger Growth Driver?
• Neutral Sentiment: CEO Kelly Ortberg is scheduled to speak at the Morgan Stanley Laguna Conference on September 16. Investors may look for updates on production rates, cash flow and the recovery plan, but no new guidance has been announced. Boeing CEO to Speak at Morgan Stanley Laguna Conference
• Negative Sentiment: Engineering labor risk persists: Boeing and the union representing roughly 17,000 engineers and technical workers will resume negotiations on September 8 after workers rejected prior contract offers and authorized a possible strike. A work stoppage could disrupt production, raise costs and delay the company’s recovery. Boeing and Engineers Union Resume Contract Talks

Wall Street Analyst Weigh In

Several research firms recently issued reports on BA. Barclays cut shares of Boeing from an "equal weight" rating to an "underweight" rating in a report on Tuesday, August 11th. Cantor Fitzgerald lowered shares of Boeing to a "neutral" rating in a research report on Tuesday, August 11th. Argus raised Boeing from a "hold" rating to a "buy" rating and set a $265.00 price target for the company in a research report on Tuesday, August 11th. Wolfe Research lowered shares of Boeing from an "outperform" rating to a "hold" rating in a research report on Tuesday, August 11th. Finally, Sanford C. Bernstein initiated coverage on Boeing in a research report on Tuesday, August 11th. They set an "outperform" rating on the stock. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $272.58.

Boeing Stock Up 1.4%

The company has a quick ratio of 0.33, a current ratio of 1.14 and a debt-to-equity ratio of 6.77. The stock has a 50 day moving average of $220.11 and a 200 day moving average of $220.73. The firm has a market capitalization of $164.88 billion, a price-to-earnings ratio of 90.31 and a beta of 1.21.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.42). Boeing had a net margin of 2.41% and a negative return on equity of 346.82%. The business had revenue of $24.56 billion for the quarter, compared to the consensus estimate of $24.26 billion. During the same period in the prior year, the company earned ($1.24) EPS. Boeing's quarterly revenue was up 8.0% on a year-over-year basis. As a group, analysts expect that The Boeing Company will post -0.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

Hedge funds have recently made changes to their positions in the business. Measured Wealth Private Client Group LLC acquired a new position in Boeing during the third quarter valued at $25,000. Strive Financial Group LLC acquired a new position in Boeing in the 4th quarter worth about $25,000. Highland Investment Advisors LLC purchased a new stake in shares of Boeing during the 2nd quarter worth about $26,000. CrossGen Wealth LLC bought a new stake in shares of Boeing in the 4th quarter valued at approximately $26,000. Finally, Strategic Wealth Advisors LLC acquired a new position in shares of Boeing during the 4th quarter worth $27,000. Institutional investors and hedge funds own 64.82% of the company's stock.

About Boeing

Boeing Company NYSE: BA is an American multinational corporation that designs, manufactures and services commercial airplanes, defense systems, and space and security technologies. Founded in 1916 by William E. Boeing in Seattle, the company today operates as an integrated aerospace and defense contractor with a global customer base. Boeing relocated its corporate headquarters to Arlington, Virginia in 2022 and maintains extensive engineering, manufacturing and service operations across the United States and around the world.

Boeing's principal lines of business include Commercial Airplanes, which produces and supports a range of jetliners used by airlines globally; Defense, Space & Security, which develops military aircraft, rotorcraft, surveillance and reconnaissance systems, satellites, and launch and missile systems; and Boeing Global Services, which provides aftermarket maintenance, training, spare parts, digital analytics and logistics support.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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