Boeing (NYSE:BA) Releases Q3 2024 Earnings Guidance

Boeing (NYSE:BA) issued an update on its third quarter 2024 earnings guidance on Friday morning. The company provided EPS guidance of -9.970–9.970 for the period, compared to the consensus EPS estimate of -1.650. The company issued revenue guidance of $17.8 billion-$17.8 billion, compared to the consensus revenue estimate of $18.4 billion.

Boeing Trading Up 3.0 %

Shares of NYSE:BA traded up $4.40 during trading on Friday, reaching $151.02. 8,882,573 shares of the company traded hands, compared to its average volume of 8,044,067. The business’s fifty day moving average is $162.79 and its 200-day moving average is $174.22. Boeing has a 52-week low of $146.26 and a 52-week high of $267.54. The firm has a market capitalization of $93.05 billion, a price-to-earnings ratio of -26.52 and a beta of 1.57.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The company had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. During the same period in the prior year, the firm posted ($0.82) earnings per share. Boeing’s quarterly revenue was down 14.6% compared to the same quarter last year. On average, sell-side analysts predict that Boeing will post -5.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BA. Sanford C. Bernstein dropped their price target on shares of Boeing from $222.00 to $207.00 and set an outperform rating on the stock in a report on Monday, August 5th. The Goldman Sachs Group dropped their target price on shares of Boeing from $232.00 to $202.00 and set a buy rating on the stock in a report on Tuesday, September 24th. Susquehanna reiterated a positive rating and set a $230.00 target price on shares of Boeing in a research note on Wednesday, August 14th. Wells Fargo & Company dropped their price target on Boeing from $119.00 to $110.00 and set an underweight rating on the stock in a research note on Tuesday, October 1st. Finally, Jefferies Financial Group reduced their price objective on Boeing from $270.00 to $240.00 and set a buy rating for the company in a research report on Monday, September 23rd. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Boeing currently has an average rating of Moderate Buy and an average price target of $206.00.

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.