$19.40 Billion in Sales Expected for The Boeing Company (NYSE:BA) This Quarter

Wall Street brokerages expect The Boeing Company (NYSE:BA) to post sales of $19.40 billion for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for The Boeing’s earnings, with estimates ranging from $18.94 billion to $20.13 billion. The Boeing reported sales of $14.14 billion in the same quarter last year, which indicates a positive year over year growth rate of 37.2%. The company is expected to issue its next earnings report on Wednesday, October 27th.

According to Zacks, analysts expect that The Boeing will report full year sales of $76.95 billion for the current year, with estimates ranging from $70.91 billion to $80.74 billion. For the next fiscal year, analysts forecast that the firm will report sales of $92.68 billion, with estimates ranging from $90.47 billion to $93.99 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover The Boeing.

The Boeing (NYSE:BA) last released its quarterly earnings results on Tuesday, July 27th. The aircraft producer reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.83) by $1.23. The firm had revenue of $17 billion for the quarter, compared to the consensus estimate of $17.03 billion.

Several analysts recently commented on the company. upped their target price on The Boeing from $200.00 to $240.00 and gave the company a “neutral” rating in a report on Friday, May 21st. JPMorgan Chase & Co. set a $270.00 price target on The Boeing in a research note on Wednesday, August 11th. Berenberg Bank boosted their price target on The Boeing from $215.00 to $245.00 and gave the company a “hold” rating in a research note on Tuesday, June 15th. Cowen raised The Boeing from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $240.00 to $290.00 in a research note on Tuesday, June 1st. Finally, Citigroup boosted their price target on The Boeing from $200.00 to $240.00 and gave the company a “neutral” rating in a research note on Friday, May 21st. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $256.72.

Shares of NYSE:BA traded down $2.91 during midday trading on Tuesday, hitting $211.57. 9,839,489 shares of the stock were exchanged, compared to its average volume of 13,319,883. The stock has a market capitalization of $124.01 billion, a price-to-earnings ratio of -13.77 and a beta of 1.61. The business’s 50-day moving average price is $223.45 and its 200 day moving average price is $235.74. The Boeing has a 12 month low of $141.58 and a 12 month high of $278.57.

A number of large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its holdings in The Boeing by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,153,370 shares of the aircraft producer’s stock worth $246,890,000 after purchasing an additional 9,912 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in The Boeing by 31.0% during the 1st quarter. Park Avenue Securities LLC now owns 2,301 shares of the aircraft producer’s stock worth $586,000 after purchasing an additional 545 shares in the last quarter. Ironwood Wealth Management LLC. lifted its holdings in The Boeing by 7.3% during the 1st quarter. Ironwood Wealth Management LLC. now owns 2,017 shares of the aircraft producer’s stock worth $514,000 after purchasing an additional 138 shares in the last quarter. Field & Main Bank lifted its holdings in The Boeing by 500.0% during the 1st quarter. Field & Main Bank now owns 840 shares of the aircraft producer’s stock worth $214,000 after purchasing an additional 700 shares in the last quarter. Finally, Virginia Retirement Systems ET AL lifted its holdings in The Boeing by 9.3% during the 1st quarter. Virginia Retirement Systems ET AL now owns 54,300 shares of the aircraft producer’s stock worth $13,831,000 after purchasing an additional 4,600 shares in the last quarter. Hedge funds and other institutional investors own 53.13% of the company’s stock.

The Boeing Company Profile

The Boeing Co is an aerospace company, which engages in the manufacture of commercial jetliners and defense, space and security systems. It operates through the following segments: Commercial Airplanes; Defense, Space and Security; Global Services; and Boeing Capital. The Commercial Airplanes segment includes the development, production, and market of commercial jet aircraft and provides fleet support services, principally to the commercial airline industry worldwide.

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Earnings History and Estimates for The Boeing (NYSE:BA)

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