In its Q3 earnings report, Boeing changed its estimate for commercial airplane deliveries from 755 planes to 760. Boeing also grew its plane delivery total, delivering 199 commercial planes in Q3. That was up from 186 during the same time frame a year ago.
The strong demand for Boeing planes was highlighted in the company’s Oct. 21 earnings report.
Boeing reported earnings per share (EPS) of $1.59 and revenue of $25.8 billion in the most recent quarter. Analysts expected Boeing to post EPS of $1.37 and revenue of $24.22 billion.
The Q3 earnings represented a 25% increase from the same quarter a year ago.
Boeing is so confident in its projected sales that it raised revenue guidance from $95 billion to $97 billion. Yahoo!Finance projects a one-year price target of $162.83 – a 10.82% premium from the opening price of $145.20 on Nov. 11.
Another bullish catalyst for the Boeing stock price will be huge industry growth. Boeing projected in its June Boeing Current Market Forecast that the global jet market will be worth $5.6 trillion in the next 20 years.
Boeing Commercial Airplanes Director of Marketing Randy Tinseth believes the market will continue to grow and thrive, according to BizJournals.com.
With high demand and year-over-year revenue growth, the Boeing stock price will continue to rise and reward long-term investors.
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