The Boeing Company (NYSE:BA) to Post Q2 2023 Earnings of ($0.83) Per Share, Jefferies Financial Group Forecasts

Posted by Defense World Staff on May 4th, 2023

The Boeing Company (NYSE:BA – Get Rating) – Equities research analysts at Jefferies Financial Group dropped their Q2 2023 earnings per share (EPS) estimates for shares of Boeing in a research report issued on Sunday, April 30th. Jefferies Financial Group analyst S. Kahyaoglu now forecasts that the aircraft producer will post earnings per share of ($0.83) for the quarter, down from their prior estimate of ($0.33). Jefferies Financial Group has a “Buy” rating and a $250.00 price target on the stock. The consensus estimate for Boeing’s current full-year earnings is ($0.40) per share. Jefferies Financial Group also issued estimates for Boeing’s Q3 2023 earnings at ($0.28) EPS, Q4 2023 earnings at $0.38 EPS, FY2023 earnings at ($2.00) EPS, FY2024 earnings at $6.40 EPS and FY2025 earnings at $9.85 EPS.

Several other research analysts have also weighed in on the company. Wells Fargo & Company boosted their price target on Boeing from $230.00 to $237.00 in a research report on Thursday, April 27th. The Goldman Sachs Group boosted their price target on Boeing from $261.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday, April 12th. Morgan Stanley lowered Boeing from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $213.00 to $220.00 in a research report on Tuesday, January 10th. Northcoast Research lowered Boeing from a “buy” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research report on Tuesday, April 4th. Finally, 888 reiterated a “maintains” rating on shares of Boeing in a research note on Thursday, April 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $221.60.

Boeing Stock Down 1.1 %

NYSE:BA opened at $200.93 on Wednesday. The firm has a market capitalization of $120.88 billion, a price-to-earnings ratio of -29.04 and a beta of 1.43. Boeing has a twelve month low of $113.02 and a twelve month high of $221.33. The stock’s 50 day moving average price is $205.99 and its two-hundred day moving average price is $193.24.

Boeing (NYSE:BA – Get Rating) last announced its earnings results on Wednesday, April 26th. The aircraft producer reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.29). The company had revenue of $17.92 billion during the quarter, compared to analyst estimates of $17.56 billion. During the same quarter in the previous year, the company posted ($2.75) earnings per share. The business’s revenue was up 28.1% compared to the same quarter last year.

Insider Activity at Boeing

In related news, EVP Howard E. Mckenzie sold 412 shares of the business’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $204.36, for a total value of $84,196.32. Following the completion of the sale, the executive vice president now directly owns 17,181 shares in the company, valued at approximately $3,511,109.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.15% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Boeing

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Grey Fox Wealth Advisors LLC acquired a new position in shares of Boeing during the 4th quarter worth $25,000. Piershale Financial Group Inc. acquired a new position in shares of Boeing during the 4th quarter worth $27,000. Aspire Private Capital LLC acquired a new position in shares of Boeing during the 1st quarter worth $29,740,200,000. Mendota Financial Group LLC acquired a new position in shares of Boeing during the 4th quarter worth $29,000. Finally, Steward Financial Group LLC acquired a new position in shares of Boeing during the 4th quarter worth $30,000. 57.07% of the stock is owned by institutional investors and hedge funds.

About Boeing

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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 (BCA), Defense, Space and Security (BDS), Global Services (BGS), and Boeing Capital (BCC). 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.