Zacks: Brokerages Expect Boeing Company (The) (BA) Will Post Quarterly Sales of $23.79 Billion

Equities analysts predict that Boeing Company (The) (NYSE:BA) will post $23.79 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Boeing Company (The)’s earnings. The lowest sales estimate is $23.20 billion and the highest is $24.26 billion. Boeing Company (The) reported sales of $23.90 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 0.5%. The business is scheduled to issue its next earnings results on Wednesday, October 25th.

On average, analysts expect that Boeing Company (The) will report full year sales of $23.79 billion for the current financial year, with estimates ranging from $91.21 billion to $92.21 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $93.44 billion per share, with estimates ranging from $91.07 billion to $95.55 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Boeing Company (The).

Boeing Company (The) (NYSE:BA) last released its earnings results on Wednesday, July 26th. The aircraft producer reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.23. Boeing Company (The) had a return on equity of 2,185.10% and a net margin of 7.84%. The firm had revenue of $22.74 billion for the quarter, compared to analyst estimates of $22.97 billion. During the same quarter in the prior year, the firm posted ($0.44) earnings per share. The company’s quarterly revenue was down 8.1% on a year-over-year basis.

A number of research analysts recently weighed in on BA shares. Canaccord Genuity reaffirmed a “hold” rating and set a $215.00 price target (up from $200.00) on shares of Boeing Company (The) in a research note on Sunday, July 30th. Argus reaffirmed a “buy” rating and set a $270.00 price target on shares of Boeing Company (The) in a research note on Tuesday, August 1st. Buckingham Research raised Boeing Company (The) from an “underperform” rating to a “neutral” rating in a research note on Friday, July 28th. Vetr raised Boeing Company (The) from a “hold” rating to a “buy” rating and set a $253.33 price target on the stock in a research note on Monday. Finally, Wells Fargo & Company reaffirmed a “market perform” rating on shares of Boeing Company (The) in a research note on Monday, July 10th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $228.31.

Boeing Company (BA) traded down 1.58% during trading on Friday, reaching $234.31. The company’s stock had a trading volume of 5,675,825 shares. The firm has a 50 day moving average price of $211.74 and a 200-day moving average price of $186.31. Boeing Company has a 52-week low of $126.31 and a 52-week high of $246.49. The stock has a market cap of $138.50 billion, a price-to-earnings ratio of 20.53 and a beta of 1.16.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 11th will be given a $1.42 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.42%. Boeing Company (The)’s dividend payout ratio (DPR) is presently 49.74%.

In related news, SVP Heidi B. Capozzi sold 4,217 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $241.51, for a total value of $1,018,447.67. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Robert E. Verbeck sold 2,522 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $244.45, for a total value of $616,502.90. The disclosure for this sale can be found here. Insiders sold 83,334 shares of company stock worth $20,321,493 in the last quarter. 0.28% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in Boeing Company (The) by 0.3% in the first quarter. State Street Corp now owns 28,433,353 shares of the aircraft producer’s stock worth $5,028,731,000 after buying an additional 87,850 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Boeing Company (The) by 4.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 3,066,519 shares of the aircraft producer’s stock worth $606,405,000 after buying an additional 123,420 shares during the last quarter. LSV Asset Management increased its stake in Boeing Company (The) by 4.9% in the first quarter. LSV Asset Management now owns 2,985,054 shares of the aircraft producer’s stock worth $527,936,000 after buying an additional 138,170 shares during the last quarter. Bank of Montreal Can increased its stake in Boeing Company (The) by 30.6% in the first quarter. Bank of Montreal Can now owns 2,968,297 shares of the aircraft producer’s stock worth $524,974,000 after buying an additional 694,658 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in Boeing Company (The) by 9.3% in the second quarter. Legal & General Group Plc now owns 2,906,822 shares of the aircraft producer’s stock worth $574,841,000 after buying an additional 246,578 shares during the last quarter. Institutional investors and hedge funds own 74.47% of the company’s stock.

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About Boeing Company (The)

The Boeing Company is an aerospace company. The Company’s segments include Commercial Airplanes; Defense, Space & Security (BDS), such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). The Commercial Airplanes segment develops, produces and markets commercial jet aircraft and provides related support services, to the commercial airline industry.

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Earnings History and Estimates for Boeing Company (The) (NYSE:BA)

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