Boeing (NYSE:BA) Announces Earnings Results

Boeing (NYSE:BA) posted its earnings results on Wednesday. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90), Briefing.com reports. The business had revenue of $16.87 billion during the quarter, compared to the consensus estimate of $17.35 billion. The business’s revenue was down 14.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.82) earnings per share.

Boeing Trading Down 6.5 %

NYSE:BA traded down $12.33 on Thursday, hitting $178.27. 13,874,950 shares of the stock were exchanged, compared to its average volume of 8,193,690. The stock has a fifty day moving average of $181.97 and a 200-day moving average of $187.70. The stock has a market cap of $109.44 billion, a PE ratio of -50.22 and a beta of 1.56. Boeing has a fifty-two week low of $159.70 and a fifty-two week high of $267.54.

Analyst Ratings Changes

A number of brokerages have issued reports on BA. Robert W. Baird cut their target price on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, June 3rd. Stifel Nicolaus upped their target price on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday. Susquehanna raised their price target on Boeing from $220.00 to $230.00 and gave the stock a “positive” rating in a research report on Thursday. Northcoast Research downgraded Boeing from a “neutral” rating to a “sell” rating and set a $140.00 price objective on the stock. in a research report on Wednesday, April 17th. Finally, Sanford C. Bernstein decreased their price objective on Boeing from $230.00 to $215.00 and set an “outperform” rating on the stock in a research note on Monday, June 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and an average target price of $217.41.

Boeing Company Profile

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.