The Boeing Company (NYSE:BA – Get Free Report)’s stock price was down 2.5% during trading on Wednesday following a dissappointing earnings announcement. The stock traded as low as $172.86 and last traded at $173.37. Approximately 4,215,642 shares were traded during trading, a decline of 51% from the average daily volume of 8,531,303 shares. The stock had previously closed at $177.78.
The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period in the previous year, the company earned ($0.47) earnings per share.
Wall Street Analyst Weigh In
A number of analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Citigroup dropped their price objective on shares of Boeing from $209.00 to $207.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Northcoast Research raised shares of Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. UBS Group boosted their price target on Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Wells Fargo & Company raised their price objective on Boeing from $85.00 to $103.00 and gave the company an “underweight” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $195.00.
Hedge Funds Weigh In On Boeing
A number of hedge funds and other institutional investors have recently modified their holdings of BA. Clearbridge Investments LLC boosted its position in shares of Boeing by 6,763.5% during the 2nd quarter. Clearbridge Investments LLC now owns 287,237 shares of the aircraft producer’s stock valued at $52,280,000 after acquiring an additional 283,052 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Boeing in the 2nd quarter valued at about $82,000. Sanctuary Advisors LLC purchased a new position in Boeing in the second quarter worth about $21,405,000. Heritage Wealth Management Inc. purchased a new stake in Boeing during the second quarter valued at approximately $483,000. Finally, Czech National Bank lifted its stake in shares of Boeing by 8.4% in the 3rd quarter. Czech National Bank now owns 119,243 shares of the aircraft producer’s stock valued at $18,130,000 after purchasing an additional 9,281 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.
Boeing Trading Up 3.3 %
The company has a 50-day moving average price of $168.24 and a two-hundred day moving average price of $164.26. The stock has a market cap of $110.95 billion, a P/E ratio of -13.91 and a beta of 1.52.
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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