FY2019 Earnings Estimate for Boeing Co (BA) Issued By Jefferies Group
Boeing Co (NYSE:BA) – Jefferies Group lifted their FY2019 earnings per share estimates for shares of Boeing in a research report issued on Monday. Jefferies Group analyst S. Kahyaoglu now forecasts that the aircraft producer will earn $12.56 per share for the year, up from their prior estimate of $12.51. Jefferies Group currently has a “Buy” rating and a $339.00 target price on the stock. Jefferies Group also issued estimates for Boeing’s FY2020 earnings at $13.97 EPS, FY2021 earnings at $14.79 EPS and FY2022 earnings at $15.64 EPS.
Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 25th. The aircraft producer reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.65 by $0.07. Boeing had a return on equity of 12,064.25% and a net margin of 7.33%. The business had revenue of $24.31 billion during the quarter, compared to analysts’ expectations of $24.09 billion. During the same quarter last year, the business posted $3.51 earnings per share. The business’s revenue for the quarter was up 1.7% on a year-over-year basis.
Shares of Boeing (NYSE:BA) traded up $8.28 during mid-day trading on Tuesday, hitting $318.43. The stock had a trading volume of 5,546,203 shares, compared to its average volume of 3,500,000. Boeing has a twelve month low of $156.67 and a twelve month high of $319.91. The stock has a market capitalization of $189,650.00, a PE ratio of 29.29, a P/E/G ratio of 2.16 and a beta of 1.23. The company has a current ratio of 1.18, a quick ratio of 0.39 and a debt-to-equity ratio of 8.54.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 9th will be issued a $1.71 dividend. This is a boost 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 yield of 2.15%. Boeing’s payout ratio is 52.25%.
Boeing declared that its board has authorized a stock repurchase plan on Monday, December 11th that permits the company to repurchase $18.00 billion in outstanding shares. This repurchase authorization permits the aircraft producer to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. LMR Partners LLP acquired a new position in shares of Boeing in the 2nd quarter valued at about $4,904,000. Allegis Investment Advisors LLC acquired a new position in shares of Boeing in the 2nd quarter valued at about $351,000. Blair William & Co. IL lifted its stake in shares of Boeing by 4.1% in the 2nd quarter. Blair William & Co. IL now owns 157,623 shares of the aircraft producer’s stock valued at $31,170,000 after purchasing an additional 6,141 shares in the last quarter. Alps Advisors Inc. lifted its stake in shares of Boeing by 46.4% in the 2nd quarter. Alps Advisors Inc. now owns 4,832 shares of the aircraft producer’s stock valued at $956,000 after purchasing an additional 1,532 shares in the last quarter. Finally, State of Wisconsin Investment Board lifted its stake in shares of Boeing by 23.2% in the 2nd quarter. State of Wisconsin Investment Board now owns 596,657 shares of the aircraft producer’s stock valued at $117,989,000 after purchasing an additional 112,520 shares in the last quarter. Institutional investors own 70.84% of the company’s stock.
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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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