The Boeing Company (NYSE:BA) – Seaport Res Ptn lowered their Q2 2021 earnings estimates for shares of The Boeing in a note issued to investors on Tuesday, July 20th. Seaport Res Ptn analyst R. Safran now anticipates that the aircraft producer will post earnings per share of ($0.81) for the quarter, down from their previous estimate of ($0.22). Seaport Res Ptn also issued estimates for The Boeing’s Q4 2021 earnings at $1.42 EPS, FY2021 earnings at ($0.07) EPS, Q2 2022 earnings at $1.07 EPS, Q3 2022 earnings at $1.13 EPS, Q4 2022 earnings at $1.64 EPS and FY2022 earnings at $4.95 EPS.
Several other research firms have also weighed in on BA. Wells Fargo & Company initiated coverage on shares of The Boeing in a report on Tuesday, May 18th. They set an “equal weight” rating and a $244.00 target price on the stock. Citigroup lifted their target price on shares of The Boeing from $200.00 to $240.00 and gave the company a “neutral” rating in a report on Friday, May 21st. Cowen upgraded shares of The Boeing from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $240.00 to $290.00 in a report on Tuesday, June 1st. Wolfe Research upgraded shares of The Boeing from an “underperform” rating to a “peer perform” rating and set a $224.00 target price on the stock in a report on Tuesday, July 13th. Finally, Sanford C. Bernstein upgraded shares of The Boeing from an “underperform” rating to a “market perform” rating and lifted their target price for the company from $196.00 to $229.00 in a report on Tuesday, May 4th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $258.43.
The Boeing (NYSE:BA) last announced its quarterly earnings results on Tuesday, April 27th. The aircraft producer reported ($1.53) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.17) by ($0.36). The business had revenue of $15.22 billion for the quarter, compared to the consensus estimate of $15.95 billion. The firm’s revenue was down 10.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.70) EPS.
In other news, insider Carol J. Hibbard sold 2,000 shares of the business’s stock in a transaction dated Thursday, May 13th. The shares were sold at an average price of $224.97, for a total value of $449,940.00. Following the completion of the sale, the insider now owns 7,462 shares of the company’s stock, valued at approximately $1,678,726.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in BA. Morgan Stanley grew its position in shares of The Boeing by 28.7% during the 4th quarter. Morgan Stanley now owns 7,508,555 shares of the aircraft producer’s stock valued at $1,607,282,000 after buying an additional 1,673,366 shares during the last quarter. BlackRock Inc. boosted its stake in The Boeing by 1.9% during the 1st quarter. BlackRock Inc. now owns 31,851,996 shares of the aircraft producer’s stock valued at $8,113,339,000 after purchasing an additional 607,992 shares during the period. Geode Capital Management LLC boosted its stake in The Boeing by 4.8% during the 1st quarter. Geode Capital Management LLC now owns 7,988,325 shares of the aircraft producer’s stock valued at $2,028,467,000 after purchasing an additional 363,662 shares during the period. UBS Asset Management Americas Inc. boosted its stake in The Boeing by 21.6% during the 1st quarter. UBS Asset Management Americas Inc. now owns 1,901,620 shares of the aircraft producer’s stock valued at $484,381,000 after purchasing an additional 338,090 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in The Boeing by 665.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 329,651 shares of the aircraft producer’s stock valued at $70,565,000 after purchasing an additional 286,589 shares during the period. 53.82% of the stock is owned by institutional investors and hedge funds.
The Boeing Company Profile
The Boeing Co is an aerospace company, which engages in the manufacture of commercial jetliners and defense, space and security systems. It operates through the following segments: Commercial Airplanes; Defense, Space and Security; Global Services; and Boeing Capital. The Commercial Airplanes segment includes the development, production, and market of commercial jet aircraft and provides fleet support services, principally to the commercial airline industry worldwide.
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