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 earnings per share guidance of -9.970–9.970 for the period, compared to the consensus earnings per share 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 Stock Up 3.0 %

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

Boeing (NYSE:BA) last announced its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The firm 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 company posted ($0.82) EPS. Boeing’s revenue was down 14.6% compared to the same quarter last year. Analysts forecast that Boeing will post -5.35 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on BA shares. TD Cowen decreased their price target on Boeing from $230.00 to $200.00 and set a buy rating on the stock in a research report on Tuesday, October 1st. Bank of America increased their target price on shares of Boeing from $180.00 to $200.00 and gave the stock a neutral rating in a research note on Thursday, June 13th. Susquehanna restated a positive rating and set a $230.00 price target on shares of Boeing in a research report on Wednesday, August 14th. Stifel Nicolaus increased their price objective on Boeing from $230.00 to $235.00 and gave the stock a buy rating in a research report on Thursday, August 1st. Finally, Sanford C. Bernstein reduced their target price on Boeing from $222.00 to $207.00 and set an outperform rating for the company in a research report on Monday, August 5th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Boeing currently has an average rating of Moderate Buy and a consensus target price of $206.00.

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.