Boeing (NYSE:BA) Announces Quarterly Earnings Results

Boeing (NYSE:BA) issued its quarterly earnings results on Wednesday. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($4.85) by ($5.59), Briefing.com reports. The company had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the prior year, the business earned ($3.26) earnings per share. The business’s revenue was down 1.5% compared to the same quarter last year.

Boeing Stock Performance

BA traded down $3.25 on Thursday, reaching $153.81. The company had a trading volume of 5,561,208 shares, compared to its average volume of 8,108,207. Boeing has a 52-week low of $146.02 and a 52-week high of $267.54. The company has a market cap of $94.42 billion, a price-to-earnings ratio of -43.89 and a beta of 1.57. The business has a 50 day simple moving average of $160.61 and a 200 day simple moving average of $172.01.

Analyst Upgrades and Downgrades

BA has been the topic of a number of research reports. Benchmark reaffirmed a “buy” rating and issued a $250.00 price target on shares of Boeing in a report on Thursday. Susquehanna dropped their price target on Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research report on Thursday. The Goldman Sachs Group cut their price target on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Citigroup dropped their price objective on shares of Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $194.95.

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.