Boeing (NYSE:BA) Issues Quarterly Earnings Results, Misses Estimates By $0.10 EPS

Boeing (NYSE:BA) posted its earnings results on Wednesday. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10), Briefing.com reports. The firm had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the previous year, the company earned ($3.26) EPS. The firm’s quarterly revenue was down 1.5% on a year-over-year basis.

Boeing Stock Performance

Shares of BA traded up $1.76 during midday trading on Friday, hitting $156.96. The company had a trading volume of 936,712 shares, compared to its average volume of 8,093,699. The company’s 50-day simple moving average is $160.61 and its 200-day simple moving average is $172.01. The firm has a market capitalization of $96.36 billion, a P/E ratio of -43.72 and a beta of 1.57. Boeing has a 1 year low of $146.02 and a 1 year high of $267.54.

Analyst Upgrades and Downgrades

BA has been the topic of a number of research analyst reports. Morgan Stanley dropped their target price on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday. TD Cowen dropped their price target on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Jefferies Financial Group decreased their price target on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a report on Tuesday, October 15th. Finally, Susquehanna dropped their price objective on Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $191.79.

About Boeing

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.