$24.97 Billion in Sales Expected for Boeing Co (BA) This Quarter

Wall Street brokerages forecast that Boeing Co (NYSE:BA) will post $24.97 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Boeing’s earnings, with the highest sales estimate coming in at $25.91 billion and the lowest estimate coming in at $24.56 billion. Boeing reported sales of $24.31 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 2.7%. The business is expected to announce its next quarterly earnings results on Wednesday, October 24th.

On average, analysts expect that Boeing will report full-year sales of $98.85 billion for the current financial year, with estimates ranging from $98.34 billion to $99.39 billion. For the next financial year, analysts anticipate that the business will report sales of $104.73 billion per share, with estimates ranging from $103.12 billion to $107.03 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Boeing.

Boeing (NYSE:BA) last released its earnings results on Wednesday, July 25th. The aircraft producer reported $3.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.45 by ($0.12). The company had revenue of $24.26 billion during the quarter, compared to analyst estimates of $24.02 billion. Boeing had a net margin of 9.92% and a return on equity of 2,344.87%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.55 EPS.

BA has been the topic of a number of recent research reports. Cowen reissued a “buy” rating and issued a $430.00 target price on shares of Boeing in a report on Tuesday, May 1st. Vetr lowered Boeing from a “strong-buy” rating to a “buy” rating and set a $368.72 target price on the stock. in a report on Monday, April 16th. Nord/LB reissued a “buy” rating and issued a $385.00 target price on shares of Boeing in a report on Thursday, April 26th. Societe Generale raised Boeing from a “hold” rating to a “buy” rating in a report on Thursday, April 26th. Finally, Vertical Research raised Boeing from a “hold” rating to a “buy” rating in a report on Wednesday, April 25th. Seven investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $388.49.

A number of institutional investors and hedge funds have recently bought and sold shares of BA. Rovida Advisors Inc. purchased a new stake in Boeing during the fourth quarter worth $56,121,000. San Francisco Sentry Investment Group CA boosted its position in Boeing by 1.3% during the fourth quarter. San Francisco Sentry Investment Group CA now owns 14,167 shares of the aircraft producer’s stock worth $4,178,000 after purchasing an additional 176 shares in the last quarter. Whittier Trust Co. boosted its position in Boeing by 1.2% during the fourth quarter. Whittier Trust Co. now owns 121,200 shares of the aircraft producer’s stock worth $35,741,000 after purchasing an additional 1,397 shares in the last quarter. Sigma Planning Corp boosted its position in Boeing by 10.5% during the fourth quarter. Sigma Planning Corp now owns 23,867 shares of the aircraft producer’s stock worth $7,039,000 after purchasing an additional 2,268 shares in the last quarter. Finally, Wealthstreet Investment Advisors LLC purchased a new stake in Boeing during the fourth quarter worth $10,636,000. Institutional investors own 71.01% of the company’s stock.

Boeing opened at $339.41 on Friday, MarketBeat Ratings reports. The company has a market capitalization of $199.80 billion, a PE ratio of 28.19, a P/E/G ratio of 1.73 and a beta of 1.46. The company has a current ratio of 1.11, a quick ratio of 0.32 and a debt-to-equity ratio of -7.65. Boeing has a 12-month low of $230.94 and a 12-month high of $374.48.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 7th. Investors of record on Friday, August 10th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Thursday, August 9th. Boeing’s dividend payout ratio is presently 56.81%.

Boeing Company Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

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Earnings History and Estimates for Boeing (NYSE:BA)

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