The Boeing Company (NYSE:BA) Expected to Post Q1 2024 Earnings of $1.14 Per Share

Posted by Defense World Staff on Jun 26th, 2023

The Boeing Company (NYSE:BA – Get Rating) – Equities researchers at Seaport Res Ptn issued their Q1 2024 earnings per share (EPS) estimates for shares of Boeing in a research report issued to clients and investors on Thursday, June 22nd. Seaport Res Ptn analyst R. Safran expects that the aircraft producer will earn $1.14 per share for the quarter. The consensus estimate for Boeing’s current full-year earnings is ($1.15) per share. Seaport Res Ptn also issued estimates for Boeing’s FY2024 earnings at $6.75 EPS.

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

Other equities research analysts have also recently issued reports about the company. Royal Bank of Canada decreased their price target on Boeing from $225.00 to $220.00 in a report on Thursday, April 27th. 888 restated a “maintains” rating on shares of Boeing in a research report on Thursday, April 27th. Credit Suisse Group raised their price objective on Boeing from $200.00 to $220.00 in a research report on Monday, April 10th. The Goldman Sachs Group raised their price objective on Boeing from $261.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, April 12th. Finally, StockNews.com lowered Boeing from a “hold” rating to a “sell” rating in a research report on Friday, June 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Boeing presently has a consensus rating of “Moderate Buy” and a consensus price target of $221.60.

Boeing Price Performance

BA stock opened at $205.41 on Monday. Boeing has a 1 year low of $120.99 and a 1 year high of $223.91. The stock’s fifty day moving average price is $207.05 and its 200-day moving average price is $205.25. The company has a market cap of $123.57 billion, a P/E ratio of -29.68 and a beta of 1.42.

Institutional Trading of Boeing

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Boeing by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 45,200,241 shares of the aircraft producer’s stock worth $5,472,845,000 after purchasing an additional 670,698 shares during the period. BlackRock Inc. boosted its position in shares of Boeing by 8.1% during the 1st quarter. BlackRock Inc. now owns 35,950,526 shares of the aircraft producer’s stock worth $7,636,970,000 after purchasing an additional 2,682,272 shares during the period. Moneta Group Investment Advisors LLC boosted its position in shares of Boeing by 109,667.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 16,055,730 shares of the aircraft producer’s stock worth $3,058,456,000 after purchasing an additional 16,041,103 shares during the period. Geode Capital Management LLC boosted its position in shares of Boeing by 2.3% during the 1st quarter. Geode Capital Management LLC now owns 9,908,984 shares of the aircraft producer’s stock worth $2,099,342,000 after purchasing an additional 224,280 shares during the period. Finally, Morgan Stanley boosted its position in Boeing by 11.7% in the 4th quarter. Morgan Stanley now owns 8,321,871 shares of the aircraft producer’s stock valued at $1,585,234,000 after buying an additional 872,795 shares during the period. Institutional investors and hedge funds own 60.22% of the company’s stock.

Insider Activity

In other Boeing news, EVP Howard E. Mckenzie sold 412 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $204.36, for a total value of $84,196.32. Following the completion of the transaction, the executive vice president now owns 17,181 shares in the company, valued at $3,511,109.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.15% of the company’s stock.

Boeing Company Profile

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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 four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.