The Boeing Company (NYSE:BA) Forecasted to Post Q3 2024 Earnings of ($1.16) Per Share

The Boeing Company (NYSE:BA) – Equities researchers at William Blair lowered their Q3 2024 EPS estimates for Boeing in a report issued on Wednesday, July 31st. William Blair analyst L. Dipalma now forecasts that the aircraft producer will earn ($1.16) per share for the quarter, down from their prior estimate of $0.92. The consensus estimate for Boeing’s current full-year earnings is ($2.38) per share. William Blair also issued estimates for Boeing’s Q4 2024 earnings at $0.00 EPS, FY2024 earnings at ($5.19) EPS and FY2025 earnings at $2.44 EPS.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The business had revenue of $16.87 billion during the quarter, compared to analysts’ expectations of $17.35 billion. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.82) EPS.

Other equities analysts also recently issued research reports about the company. Baird R W upgraded Boeing to a “strong-buy” rating in a report on Monday, June 3rd. Bank of America raised their price target on shares of Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, June 13th. JPMorgan Chase & Co. decreased their price objective on shares of Boeing from $230.00 to $210.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Susquehanna raised their target price on Boeing from $220.00 to $230.00 and gave the company a “positive” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada decreased their price target on Boeing from $225.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, April 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Boeing presently has an average rating of “Moderate Buy” and an average price target of $215.18.

Boeing Stock Down 1.2 %

Shares of NYSE:BA opened at $165.03 on Monday. Boeing has a 12-month low of $159.70 and a 12-month high of $267.54. The firm has a market capitalization of $101.31 billion, a P/E ratio of -46.49 and a beta of 1.56. The firm has a fifty day moving average of $181.72 and a two-hundred day moving average of $186.85.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Boeing by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after purchasing an additional 1,222,816 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Boeing by 35.5% in the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock worth $4,400,109,000 after acquiring an additional 4,425,964 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Boeing by 23.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock worth $2,560,466,000 after purchasing an additional 1,884,850 shares in the last quarter. Northern Trust Corp grew its stake in shares of Boeing by 1.1% during the fourth quarter. Northern Trust Corp now owns 5,003,262 shares of the aircraft producer’s stock valued at $1,304,150,000 after purchasing an additional 52,081 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of Boeing by 14.1% in the first quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock valued at $811,221,000 after purchasing an additional 518,952 shares in the last quarter. 64.82% of the stock is owned by institutional investors.

Boeing Company Profile

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.