The Boeing Company (NYSE:BA – Get Free Report)’s share price dropped 1.3% during trading on Tuesday after Wells Fargo & Company lowered their price target on the stock from $86.00 to $85.00. Wells Fargo & Company currently has an underweight rating on the stock. Boeing traded as low as $152.30 and last traded at $153.05. Approximately 9,684,522 shares were traded during mid-day trading, an increase of 10% from the average daily volume of 8,822,294 shares. The stock had previously closed at $155.07.
A number of other research analysts also recently commented on the stock. Susquehanna dropped their target price on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. Jefferies Financial Group dropped their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. The Goldman Sachs Group cut their target price on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Sanford C. Bernstein cut Boeing from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $195.00 to $169.00 in a research report on Wednesday, October 30th. Finally, Stifel Nicolaus raised their price target on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $190.37.
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Boeing Stock Performance
The company has a 50-day moving average of $156.65 and a 200-day moving average of $170.77. The stock has a market capitalization of $93.34 billion, a price-to-earnings ratio of -11.70 and a beta of 1.57.
Boeing (NYSE:BA – Get Free Report) last released its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) 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 company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the business posted ($3.26) EPS. As a group, analysts expect that The Boeing Company will post -16.13 earnings per share for the current year.
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.
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