Q3 2024 Earnings Estimate for The Boeing Company (NYSE:BA) Issued By Seaport Res Ptn

The Boeing Company (NYSE:BA) – Seaport Res Ptn dropped their Q3 2024 EPS estimates for shares of Boeing in a report released on Monday, October 14th. Seaport Res Ptn analyst R. Safran now expects that the aircraft producer will post earnings of ($10.51) per share for the quarter, down from their prior forecast of ($0.86). The consensus estimate for Boeing’s current full-year earnings is ($5.35) per share. Seaport Res Ptn also issued estimates for Boeing’s Q4 2024 earnings at ($2.09) EPS and FY2024 earnings at ($16.63) EPS.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing analysts’ consensus estimates 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) earnings per share. The company’s revenue for the quarter was down 14.6% on a year-over-year basis.

Other analysts also recently issued reports about the stock. Sanford C. Bernstein decreased their target price on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft decreased 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. Citigroup decreased their price target on shares of Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research report on Tuesday. Susquehanna reaffirmed a “positive” rating and set a $230.00 price objective on shares of Boeing in a report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. cut their price target on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a report on Monday. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $201.00.

Boeing Price Performance

BA stock opened at $154.86 on Wednesday. Boeing has a 52-week low of $146.02 and a 52-week high of $267.54. The company’s 50 day simple moving average is $161.63 and its 200-day simple moving average is $173.00. The firm has a market capitalization of $95.07 billion, a P/E ratio of -43.62 and a beta of 1.57.

Institutional Investors Weigh In On Boeing

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BA. Vanguard Group Inc. grew its holdings in Boeing by 2.5% during 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 in the last quarter. Newport Trust Company LLC grew its holdings in shares of 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 purchasing an additional 388,633 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of 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 purchasing an additional 106,513 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of 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 purchasing an additional 518,952 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in Boeing by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock worth $624,749,000 after buying an additional 67,474 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors.

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.