Boeing (NYSE:BA) Releases Quarterly Earnings Results, Misses Estimates By $1.90 EPS

Boeing (NYSE:BA) posted its earnings results on Wednesday. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90), Briefing.com reports. The firm had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. The firm’s quarterly revenue was down 14.6% on a year-over-year basis. During the same period last year, the firm earned ($0.82) EPS.

Boeing Stock Performance

BA traded down $8.36 during trading on Friday, reaching $169.95. 11,742,812 shares of the company traded hands, compared to its average volume of 6,374,948. Boeing has a 12-month low of $159.70 and a 12-month high of $267.54. The firm has a fifty day simple moving average of $181.87 and a 200 day simple moving average of $187.37. The company has a market cap of $104.72 billion, a P/E ratio of -47.87 and a beta of 1.56.

Analyst Upgrades and Downgrades

BA has been the subject of several recent analyst reports. Citigroup reduced their price objective on shares of Boeing from $252.00 to $224.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Barclays reduced their price objective on shares of Boeing from $235.00 to $190.00 and set an “equal weight” rating for the company in a research note on Monday, April 22nd. UBS Group dropped their target price on shares of Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, June 7th. Morgan Stanley lowered their price objective on shares of Boeing from $235.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, April 10th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $225.00 price objective on shares of Boeing in a report on Tuesday, June 25th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $215.65.

About Boeing

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.