FY2024 EPS Estimates for Boeing Lowered by Seaport Res Ptn

The Boeing Company (NYSE:BA) – Seaport Res Ptn decreased their FY2024 earnings estimates for shares of Boeing in a research note issued to investors on Monday, December 16th. Seaport Res Ptn analyst R. Safran now forecasts that the aircraft producer will post earnings of ($17.22) per share for the year, down from their prior forecast of ($16.63). The consensus estimate for Boeing’s current full-year earnings is ($16.18) per share. Seaport Res Ptn also issued estimates for Boeing’s Q4 2024 earnings at ($2.75) EPS, Q1 2025 earnings at ($0.28) EPS, Q2 2025 earnings at ($0.31) EPS, Q3 2025 earnings at ($0.28) EPS, Q4 2025 earnings at ($0.25) EPS and FY2025 earnings at ($1.11) EPS.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the prior year, the company posted ($3.26) EPS. The company’s quarterly revenue was down 1.5% compared to the same quarter last year.

A number of other analysts have also weighed in on the stock. Citigroup reduced their price objective on shares of 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 reduced their price target on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Morgan Stanley dropped their price objective on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Sanford C. Bernstein downgraded Boeing from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $195.00 to $169.00 in a research report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Boeing has an average rating of “Hold” and a consensus price target of $190.11.

Boeing Trading Up 2.6 %

Shares of BA opened at $177.04 on Thursday. Boeing has a twelve month low of $137.03 and a twelve month high of $267.54. The company’s fifty day simple moving average is $154.58 and its 200-day simple moving average is $166.11. The company has a market cap of $109.45 billion, a P/E ratio of -13.72 and a beta of 1.56.

Hedge Funds Weigh In On Boeing

A number of large investors have recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new position in shares of Boeing in the 3rd quarter worth approximately $28,000. Kiely Wealth Advisory Group Inc. purchased a new position in Boeing in the second quarter worth $33,000. Cedar Wealth Management LLC acquired a new position in shares of Boeing during the third quarter worth $30,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Boeing during the 2nd quarter valued at $39,000. Finally, Mizuho Securities Co. Ltd. grew its stake in Boeing by 40.0% during the 2nd quarter. Mizuho Securities Co. Ltd. now owns 280 shares of the aircraft producer’s stock worth $51,000 after buying an additional 80 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors.

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.