William Blair Brokers Decrease Earnings Estimates for Boeing

The Boeing Company (NYSE:BA) – Analysts at William Blair lowered their FY2024 earnings estimates for shares of Boeing in a report released on Wednesday, October 23rd. William Blair analyst L. Dipalma now forecasts that the aircraft producer will post earnings per share of ($17.95) for the year, down from their prior forecast of ($17.62). 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 ($3.48) EPS and FY2025 earnings at ($2.24) EPS.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($3.26) EPS.

BA has been the topic of a number of other research reports. JPMorgan Chase & Co. cut their target price on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. Sanford C. Bernstein cut their target price on shares of Boeing from $207.00 to $195.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. The Goldman Sachs Group cut their target price on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Robert W. Baird cut their target price on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Jefferies Financial Group cut their target price on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Three investment 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $191.79.

Boeing Stock Down 2.8 %

Shares of BA opened at $150.71 on Monday. The company’s fifty day moving average is $159.10 and its two-hundred day moving average is $171.48. Boeing has a fifty-two week low of $146.02 and a fifty-two week high of $267.54. The firm has a market cap of $92.52 billion, a PE ratio of -42.45 and a beta of 1.57.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BA. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Boeing in the 1st quarter valued at about $310,000. Vicus Capital boosted its stake in Boeing by 15.6% during the 1st quarter. Vicus Capital now owns 1,144 shares of the aircraft producer’s stock valued at $221,000 after purchasing an additional 154 shares during the period. Miracle Mile Advisors LLC boosted its stake in Boeing by 5.9% during the 1st quarter. Miracle Mile Advisors LLC now owns 19,005 shares of the aircraft producer’s stock valued at $3,668,000 after purchasing an additional 1,064 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its stake in Boeing by 2.4% during the 1st quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 20,179 shares of the aircraft producer’s stock valued at $3,894,000 after purchasing an additional 468 shares during the period. Finally, Cullinan Associates Inc. boosted its stake in Boeing by 73.3% during the 1st quarter. Cullinan Associates Inc. now owns 6,975 shares of the aircraft producer’s stock valued at $1,346,000 after purchasing an additional 2,950 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

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.