Seaport Res Ptn Issues Negative Forecast for Boeing Earnings

The Boeing Company (NYSE:BA) – Investment analysts at Seaport Res Ptn lowered their FY2024 EPS estimates for Boeing in a research note issued on Monday, December 16th. Seaport Res Ptn analyst R. Safran now forecasts that the aircraft producer will post earnings per share of ($17.22) for the year, down from their prior forecast of ($16.63). The consensus estimate for Boeing’s current full-year earnings is ($16.18) per share. Seaport Res Ptn also issued estimates for Boeing’s Q4 2024 earnings at ($2.75) EPS, Q1 2025 earnings at ($0.28) EPS, Q2 2025 earnings at ($0.31) EPS, Q3 2025 earnings at ($0.28) EPS, Q4 2025 earnings at ($0.25) EPS and FY2025 earnings at ($1.11) EPS.

Several other research firms have also weighed in on BA. Robert W. Baird lowered their price objective on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Jefferies Financial Group dropped their price objective on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research note on Tuesday, October 15th. JPMorgan Chase & Co. decreased their target price on Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of Boeing in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Boeing has an average rating of “Hold” and an average target price of $190.11.

Boeing Stock Performance

Shares of BA stock opened at $177.35 on Thursday. The company has a market cap of $109.64 billion, a P/E ratio of -13.75 and a beta of 1.56. Boeing has a fifty-two week low of $137.03 and a fifty-two week high of $267.54. The stock has a 50 day simple moving average of $155.10 and a two-hundred day simple moving average of $166.06.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Lantz Financial LLC grew its stake in Boeing by 109.7% in the 2nd quarter. Lantz Financial LLC now owns 2,695 shares of the aircraft producer’s stock valued at $491,000 after purchasing an additional 1,410 shares during the period. Hennion & Walsh Asset Management Inc. raised its position in Boeing by 51.0% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 2,428 shares of the aircraft producer’s stock worth $442,000 after acquiring an additional 820 shares during the period. Fifth Third Wealth Advisors LLC purchased a new position in Boeing in the second quarter valued at about $339,000. 1620 Investment Advisors Inc. bought a new position in shares of Boeing during the 2nd quarter valued at approximately $39,000. Finally, GYL Financial Synergies LLC increased its stake in shares of Boeing by 66.9% during the 2nd quarter. GYL Financial Synergies LLC now owns 4,342 shares of the aircraft producer’s stock worth $790,000 after purchasing an additional 1,741 shares during the last quarter. 64.82% of the stock is 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.