Equities Analysts Offer Predictions for The Boeing Company’s Q1 2024 Earnings (NYSE:BA)

The Boeing Company (NYSE:BA) – Equities research analysts at Seaport Res Ptn issued their Q1 2024 EPS estimates for shares of Boeing in a note issued to investors on Wednesday, April 17th. Seaport Res Ptn analyst R. Safran forecasts that the aircraft producer will post earnings of ($2.03) per share for the quarter. The consensus estimate for Boeing’s current full-year earnings is $0.37 per share. Seaport Res Ptn also issued estimates for Boeing’s Q2 2024 earnings at ($0.34) EPS, Q3 2024 earnings at $0.42 EPS, Q4 2024 earnings at $1.70 EPS, FY2024 earnings at ($0.25) EPS, Q2 2025 earnings at $2.17 EPS and Q3 2025 earnings at $2.31 EPS.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.25. The firm had revenue of $22.02 billion during the quarter, compared to the consensus estimate of $21.14 billion. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.75) earnings per share.

A number of other brokerages have also recently commented on BA. TD Cowen dropped their target price on shares of Boeing from $275.00 to $230.00 and set an “outperform” rating on the stock in a report on Monday, March 25th. Melius Research reaffirmed a “hold” rating on shares of Boeing in a research report on Monday, April 1st. The Goldman Sachs Group reduced their price target on shares of Boeing from $268.00 to $257.00 and set a “buy” rating for the company in a research report on Monday, March 25th. Stifel Nicolaus cut their price objective on Boeing from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Finally, Benchmark reiterated a “buy” rating and set a $250.00 price objective on shares of Boeing in a research note on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $229.35.

Boeing Stock Performance

BA stock opened at $170.24 on Friday. Boeing has a one year low of $167.53 and a one year high of $267.54. The company’s 50 day moving average price is $191.08 and its two-hundred day moving average price is $207.28. The company has a market capitalization of $103.87 billion, a PE ratio of -46.26, a price-to-earnings-growth ratio of 116.16 and a beta of 1.52.

Institutional Trading of Boeing

Several large investors have recently made changes to their positions in BA. CNB Bank increased its position in shares of Boeing by 106.5% during the third quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock worth $25,000 after purchasing an additional 66 shares in the last quarter. Vermillion & White Wealth Management Group LLC purchased a new stake in Boeing in the 4th quarter valued at $26,000. Evolution Advisers Inc. purchased a new stake in Boeing in the 4th quarter valued at $28,000. DiNuzzo Private Wealth Inc. purchased a new stake in Boeing in the 4th quarter valued at $28,000. Finally, True Wealth Design LLC purchased a new stake in Boeing in the 4th quarter valued at $33,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

About Boeing

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.