Boeing (NYSE:BA) had its target price lifted by Jefferies Financial Group to $448.00 in a research note published on Monday, February 4th, The Fly reports. Jefferies Financial Group currently has a buy rating on the aircraft producer’s stock. Jefferies Financial Group also issued estimates for Boeing’s Q1 2019 earnings at $4.16 EPS, Q2 2019 earnings at $4.75 EPS, Q3 2019 earnings at $5.15 EPS, Q4 2019 earnings at $6.04 EPS, FY2019 earnings at $20.10 EPS, FY2020 earnings at $23.00 EPS, FY2021 earnings at $25.00 EPS and FY2022 earnings at $26.95 EPS.
BA has been the subject of a number of other reports. Zacks Investment Research upgraded Boeing from a hold rating to a buy rating and set a $407.00 price objective for the company in a report on Friday, October 26th. Cowen reiterated a buy rating and set a $445.00 target price on shares of Boeing in a research note on Tuesday, December 18th. Canaccord Genuity reissued a hold rating and set a $360.00 price target (up from $350.00) on shares of Boeing in a report on Thursday, October 25th. Credit Suisse Group restated an outperform rating and set a $440.00 target price (up previously from $434.00) on shares of Boeing in a research report on Thursday, January 31st. Finally, Robert W. Baird reaffirmed an outperform rating and set a $470.00 price target on shares of Boeing in a research report on Thursday, January 31st. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $416.13.
Shares of NYSE:BA traded up $0.66 on Monday, hitting $440.62. The stock had a trading volume of 5,120,176 shares, compared to its average volume of 4,369,932. The company has a debt-to-equity ratio of 25.99, a quick ratio of 0.31 and a current ratio of 1.08. Boeing has a twelve month low of $292.47 and a twelve month high of $446.01. The company has a market capitalization of $239.58 billion, a PE ratio of 27.52, a P/E/G ratio of 1.55 and a beta of 1.31.
Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, January 30th. The aircraft producer reported $5.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.52 by $0.96. The company had revenue of $28.34 billion for the quarter, compared to analysts’ expectations of $26.76 billion. Boeing had a negative return on equity of 4,286.60% and a net margin of 10.34%. The business’s revenue was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.04 EPS. On average, analysts forecast that Boeing will post 20.13 EPS for the current year.
Boeing announced that its board has authorized a share buyback program on Monday, December 17th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the aircraft producer to buy up to 11.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 8th were issued a $2.055 dividend. This represents a $8.22 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Thursday, February 7th. This is a boost from Boeing’s previous quarterly dividend of $1.71. Boeing’s dividend payout ratio (DPR) is 51.34%.
In related news, EVP Timothy John Keating sold 26,557 shares of the stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $395.47, for a total value of $10,502,496.79. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Gregory D. Smith sold 19,500 shares of the stock in a transaction dated Friday, February 8th. The stock was sold at an average price of $401.38, for a total transaction of $7,826,910.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,247 shares of company stock worth $28,922,977. Corporate insiders own 0.24% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in BA. Oregon Public Employees Retirement Fund increased its holdings in shares of Boeing by 21,969.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 40,328,303 shares of the aircraft producer’s stock worth $125,000 after acquiring an additional 40,145,567 shares during the period. Newport Trust Co increased its stake in Boeing by 4.2% during the 4th quarter. Newport Trust Co now owns 33,492,259 shares of the aircraft producer’s stock valued at $10,801,254,000 after buying an additional 1,363,909 shares during the period. Janus Henderson Group PLC increased its stake in Boeing by 23.3% during the 2nd quarter. Janus Henderson Group PLC now owns 5,928,288 shares of the aircraft producer’s stock valued at $1,989,009,000 after buying an additional 1,121,675 shares during the period. FMR LLC increased its stake in Boeing by 15.1% during the 3rd quarter. FMR LLC now owns 8,535,249 shares of the aircraft producer’s stock valued at $3,174,259,000 after buying an additional 1,119,587 shares during the period. Finally, Capital International Investors increased its stake in Boeing by 26.1% during the 3rd quarter. Capital International Investors now owns 4,847,958 shares of the aircraft producer’s stock valued at $1,802,956,000 after buying an additional 1,002,825 shares during the period. 69.68% of the stock is currently owned by institutional investors and hedge funds.
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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