Seaport Res Ptn Has Negative Estimate for Boeing Q3 Earnings

The Boeing Company (NYSE:BA) – Research analysts at Seaport Res Ptn decreased their Q3 2024 earnings per share (EPS) estimates for Boeing in a research report issued on Monday, October 14th. Seaport Res Ptn analyst R. Safran now forecasts that the aircraft producer will post earnings per share of ($10.51) for the quarter, down from their previous 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.

Several other analysts have also commented on the stock. Wells Fargo & Company lowered their price objective on shares of Boeing from $110.00 to $109.00 and set an “underweight” rating for the company in a report on Monday. Sanford C. Bernstein lowered their price objective on shares of Boeing from $207.00 to $195.00 and set an “outperform” rating for the company in a report on Thursday. DZ Bank lowered shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a report on Tuesday. Jefferies Financial Group lowered their target price on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Finally, Stifel Nicolaus lifted their target price on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.32.

Boeing Price Performance

Shares of BA opened at $155.31 on Wednesday. Boeing has a one year low of $146.02 and a one year high of $267.54. The company has a 50-day simple moving average of $161.36 and a two-hundred day simple moving average of $172.88. The firm has a market capitalization of $95.34 billion, a PE ratio of -43.75 and a beta of 1.57.

Boeing (NYSE:BA) last issued its quarterly earnings data 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 business had revenue of $16.87 billion for the quarter, compared to analyst estimates of $17.35 billion. During the same period in the previous year, the business earned ($0.82) EPS. Boeing’s revenue for the quarter was down 14.6% compared to the same quarter last year.

Hedge Funds Weigh In On Boeing

Hedge funds have recently added to or reduced their stakes in the company. Inspire Advisors LLC grew its position in Boeing by 8.1% in the 3rd quarter. Inspire Advisors LLC now owns 2,844 shares of the aircraft producer’s stock worth $432,000 after purchasing an additional 214 shares during the period. Aspiriant LLC grew its position in Boeing by 26.3% in the 3rd quarter. Aspiriant LLC now owns 1,403 shares of the aircraft producer’s stock worth $213,000 after purchasing an additional 292 shares during the period. Trust Point Inc. grew its position in Boeing by 3.0% in the 3rd quarter. Trust Point Inc. now owns 2,471 shares of the aircraft producer’s stock worth $376,000 after purchasing an additional 73 shares during the period. Aaron Wealth Advisors LLC grew its position in Boeing by 18.7% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 2,029 shares of the aircraft producer’s stock worth $308,000 after purchasing an additional 320 shares during the period. Finally, Claro Advisors LLC grew its position in Boeing by 624.4% in the 3rd quarter. Claro Advisors LLC now owns 10,953 shares of the aircraft producer’s stock worth $1,665,000 after purchasing an additional 9,441 shares during the period. 64.82% of the stock is currently owned by hedge funds and other 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.