Equities Analysts Set Expectations for The Boeing Company’s Q3 2024 Earnings (NYSE:BA)

The Boeing Company (NYSE:BA) – Equities researchers at William Blair decreased their Q3 2024 earnings per share estimates for Boeing in a note issued to investors on Monday, October 14th. William Blair analyst L. Dipalma now expects that the aircraft producer will post earnings per share of ($10.54) for the quarter, down from their prior forecast of ($1.16). The consensus estimate for Boeing’s current full-year earnings is ($5.35) per share. William Blair also issued estimates for Boeing’s Q4 2024 earnings at ($3.05) EPS, FY2024 earnings at ($17.62) EPS and FY2025 earnings at ($2.16) EPS.

Other equities research analysts have also issued reports about the stock. TD Cowen decreased their target price on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Monday. Citigroup dropped their target price on shares of Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a report on Tuesday. Wells Fargo & Company dropped their target price on shares of Boeing from $110.00 to $109.00 and set an “underweight” rating for the company in a report on Monday. Jefferies Financial Group cut their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. Finally, The Goldman Sachs Group cut their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Three equities research analysts have rated the stock with a sell rating, eight have assigned 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.com, Boeing presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.00.

Boeing Stock Up 1.6 %

Shares of NYSE BA opened at $154.86 on Wednesday. Boeing has a twelve month low of $146.02 and a twelve month high of $267.54. The firm has a market cap of $95.07 billion, a P/E ratio of -43.62 and a beta of 1.57. The company has a 50 day moving average of $161.63 and a 200 day moving average of $173.00.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The business had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. During the same quarter last year, the firm posted ($0.82) earnings per share. The business’s quarterly revenue was down 14.6% on a year-over-year basis.

Institutional Trading of Boeing

A number of institutional investors and hedge funds have recently made changes to their positions in BA. Vanguard Group Inc. boosted its position in Boeing by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after buying an additional 1,222,816 shares during the last quarter. Newport Trust Company LLC raised its stake in Boeing by 1.2% during the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after acquiring an additional 388,633 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Boeing by 1.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock worth $1,386,757,000 after acquiring an additional 106,513 shares during the period. Jennison Associates LLC raised its stake in Boeing by 14.1% during the first quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock worth $811,221,000 after acquiring an additional 518,952 shares during the period. Finally, Legal & General Group Plc raised its stake in Boeing by 2.0% during the second quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock worth $624,749,000 after acquiring an additional 67,474 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.

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.