Bank of America Analysts Give Boeing (BA) a $320.00 Price Target
Several other equities analysts have also recently issued reports on BA. Zacks Investment Research upgraded Boeing from a hold rating to a buy rating and set a $286.00 price target on the stock in a research report on Thursday, September 21st. Jefferies Group restated a buy rating and issued a $275.00 price target on shares of Boeing in a research report on Saturday, September 16th. Deutsche Bank boosted their price target on Boeing to $300.00 and gave the company a buy rating in a research report on Thursday, September 14th. Vetr cut Boeing from a strong-buy rating to a buy rating and set a $269.69 price target on the stock. in a research report on Wednesday, September 13th. Finally, Cowen restated a buy rating and issued a $300.00 price target on shares of Boeing in a research report on Tuesday, September 12th. Eleven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $266.73.
Shares of Boeing (NYSE:BA) traded up $0.44 during midday trading on Tuesday, reaching $294.32. The company’s stock had a trading volume of 2,139,776 shares, compared to its average volume of 3,300,766. The stock has a market cap of $173,813.63, a P/E ratio of 29.93, a price-to-earnings-growth ratio of 2.22 and a beta of 1.24. The company has a debt-to-equity ratio of 8.54, a current ratio of 1.18 and a quick ratio of 0.39. Boeing has a 12 month low of $153.06 and a 12 month high of $296.82.
Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.65 by $0.07. The company had revenue of $24.31 billion during the quarter, compared to the consensus estimate of $24.09 billion. Boeing had a return on equity of 12,064.25% and a net margin of 7.33%. Boeing’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the business earned $3.51 EPS. equities analysts anticipate that Boeing will post 10.1 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 9th will be paid a dividend of $1.71 per share. This is a positive change from Boeing’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $6.84 annualized dividend and a dividend yield of 2.32%. Boeing’s payout ratio is 52.21%.
Boeing announced that its Board of Directors has approved a stock buyback program on Monday, December 11th that permits the company to buyback $18.00 billion in outstanding shares. This buyback authorization permits the aircraft producer to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
Several large investors have recently made changes to their positions in BA. Vanguard Group Inc. lifted its stake in shares of Boeing by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 40,412,706 shares of the aircraft producer’s stock worth $7,991,613,000 after purchasing an additional 407,511 shares during the period. Jennison Associates LLC lifted its stake in shares of Boeing by 20.3% during the 3rd quarter. Jennison Associates LLC now owns 6,873,128 shares of the aircraft producer’s stock worth $1,747,218,000 after purchasing an additional 1,160,859 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Boeing by 7,215.0% during the 2nd quarter. Janus Henderson Group PLC now owns 4,919,937 shares of the aircraft producer’s stock worth $972,919,000 after purchasing an additional 4,852,679 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Boeing by 13.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,424,281 shares of the aircraft producer’s stock worth $870,618,000 after purchasing an additional 402,240 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of Boeing by 2.8% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 3,153,241 shares of the aircraft producer’s stock worth $801,586,000 after purchasing an additional 86,722 shares during the period. 70.97% of the stock is currently owned by institutional investors and hedge funds.
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Boeing Company Profile
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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