Boeing (NYSE:BA) Posts Quarterly Earnings Results, Misses Estimates By $5.59 EPS

Boeing (NYSE:BA) announced its quarterly earnings data on Wednesday. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($4.85) by ($5.59), Briefing.com reports. The firm had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same quarter last year, the firm earned ($3.26) EPS. The firm’s quarterly revenue was down 1.5% on a year-over-year basis.

Boeing Price Performance

Shares of BA traded down $3.40 during mid-day trading on Thursday, reaching $153.66. 5,386,562 shares of the company’s stock traded hands, compared to its average volume of 8,107,359. The stock has a market cap of $94.33 billion, a P/E ratio of -43.89 and a beta of 1.57. The stock’s 50-day moving average is $160.61 and its two-hundred day moving average is $172.01. Boeing has a 12 month low of $146.02 and a 12 month high of $267.54.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BA. The Goldman Sachs Group lowered their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Jefferies Financial Group lowered their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Citigroup lowered their price objective on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. TD Cowen decreased their target price on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. decreased their target price on Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research report on Monday, October 14th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Boeing currently has a consensus rating of “Moderate Buy” and a consensus target price of $194.95.

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.