William Blair Analysts Reduce Earnings Estimates for The Boeing Company (NYSE:BA)

The Boeing Company (NYSE:BA) – Analysts at William Blair decreased their Q2 2024 earnings per share (EPS) estimates for Boeing in a research report issued on Wednesday, April 24th. William Blair analyst L. Dipalma now forecasts that the aircraft producer will earn ($1.23) per share for the quarter, down from their previous estimate of $0.86. The consensus estimate for Boeing’s current full-year earnings is ($0.30) per share. William Blair also issued estimates for Boeing’s Q3 2024 earnings at $0.92 EPS, Q4 2024 earnings at $1.06 EPS, FY2024 earnings at ($0.38) EPS and FY2025 earnings at $6.56 EPS.

Boeing (NYSE:BA) last released its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.25. The business had revenue of $22.02 billion for the quarter, compared to analysts’ expectations of $21.14 billion. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the company posted ($1.75) earnings per share.

A number of other equities analysts also recently commented on the company. UBS Group cut their price objective on Boeing from $275.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, March 21st. Benchmark reiterated a “buy” rating and issued a $250.00 target price on shares of Boeing in a research note on Tuesday, March 26th. Edward Jones lowered Boeing from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Barclays lowered their target price on Boeing from $235.00 to $190.00 and set an “equal weight” rating for the company in a research note on Monday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Boeing from $240.00 to $225.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Boeing has a consensus rating of “Hold” and an average price target of $222.41.

Boeing Price Performance

Boeing stock opened at $167.84 on Monday. The stock’s 50-day moving average is $185.21 and its 200-day moving average is $206.38. The company has a market cap of $103.03 billion, a price-to-earnings ratio of -47.28 and a beta of 1.52. Boeing has a 12 month low of $159.70 and a 12 month high of $267.54.

Hedge Funds Weigh In On Boeing

Hedge funds have recently modified their holdings of the stock. Vermillion & White Wealth Management Group LLC acquired a new stake in Boeing during the fourth quarter valued at $26,000. DiNuzzo Private Wealth Inc. acquired a new stake in Boeing during the fourth quarter valued at $28,000. Evolution Advisers Inc. acquired a new stake in Boeing during the fourth quarter valued at $28,000. CNB Bank boosted its position in Boeing by 106.5% during the third quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock valued at $25,000 after purchasing an additional 66 shares during the last quarter. Finally, Vima LLC acquired a new stake in Boeing during the fourth quarter valued at $34,000. 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.