Jefferies Group Reiterates “Buy” Rating for Boeing (BA)
Jefferies Group restated their buy rating on shares of Boeing (NYSE:BA) in a report issued on Monday. They currently have a $339.00 target price on the aircraft producer’s stock. Jefferies Group also issued estimates for Boeing’s FY2019 earnings at $12.56 EPS, FY2020 earnings at $13.97 EPS, FY2021 earnings at $14.79 EPS and FY2022 earnings at $15.64 EPS.
A number of other equities analysts have also issued reports on BA. Zacks Investment Research lowered Boeing from a buy rating to a hold rating in a research report on Tuesday, September 19th. Sanford C. Bernstein reaffirmed an outperform rating and issued a $303.00 target price (up from $274.00) on shares of Boeing in a research report on Wednesday, September 20th. They noted that the move was a valuation call. Vetr lowered Boeing from a hold rating to a sell rating and set a $272.77 target price on the stock. in a research report on Thursday, December 28th. ValuEngine lowered Boeing from a buy rating to a hold rating in a research report on Monday, October 2nd. Finally, Cowen reaffirmed a buy rating and issued a $315.00 target price (up from $300.00) on shares of Boeing in a research report on Friday, September 22nd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company. Boeing has a consensus rating of Hold and a consensus target price of $280.74.
Boeing (BA) traded up $8.16 during trading on Monday, reaching $336.21. The company had a trading volume of 6,560,000 shares, compared to its average volume of 3,830,000. The firm has a market cap of $200,240.00, a price-to-earnings ratio of 30.93, a PEG ratio of 2.16 and a beta of 1.23. The company has a quick ratio of 0.39, a current ratio of 1.18 and a debt-to-equity ratio of 8.54. Boeing has a 12-month low of $156.67 and a 12-month high of $336.88.
Boeing announced that its Board of Directors has authorized a share buyback plan on Monday, December 11th that permits the company to repurchase $18.00 billion in shares. This repurchase authorization permits the aircraft producer to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
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 issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.03%. This is an increase from Boeing’s previous quarterly dividend of $1.42. The ex-dividend date is Thursday, February 8th. Boeing’s payout ratio is 52.25%.
Several hedge funds and other institutional investors have recently modified their holdings of BA. Lipe & Dalton bought a new stake in shares of Boeing in the 3rd quarter valued at approximately $100,000. Burt Wealth Advisors bought a new stake in shares of Boeing in the 3rd quarter valued at approximately $100,000. Stonehearth Capital Management LLC bought a new stake in shares of Boeing in the 4th quarter valued at approximately $105,000. Clear Perspective Advisors LLC grew its stake in Boeing by 31.0% during the 2nd quarter. Clear Perspective Advisors LLC now owns 571 shares of the aircraft producer’s stock worth $113,000 after buying an additional 135 shares during the last quarter. Finally, Vantage Investment Advisors LLC grew its stake in Boeing by 11.1% during the 2nd quarter. Vantage Investment Advisors LLC now owns 841 shares of the aircraft producer’s stock worth $123,000 after buying an additional 84 shares during the last quarter. Institutional investors and hedge funds 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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