Boeing (NYSE:BA) Posts Earnings Results, Misses Expectations By $1.90 EPS

Boeing (NYSE:BA) posted its quarterly earnings data on Wednesday. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($1.90), Briefing.com reports. The company had revenue of $16.87 billion during the quarter, compared to the consensus estimate of $17.35 billion. The business’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same period last year, the company earned ($0.82) earnings per share.

Boeing Stock Performance

Shares of NYSE BA traded down $8.36 during mid-day trading on Friday, hitting $169.95. 11,742,812 shares of the stock traded hands, compared to its average volume of 6,374,948. The stock has a fifty day moving average price of $181.87 and a 200-day moving average price of $187.37. The company has a market cap of $104.72 billion, a price-to-earnings ratio of -47.87 and a beta of 1.56. Boeing has a 52 week low of $159.70 and a 52 week high of $267.54.

Analyst Ratings Changes

Several equities research analysts have issued reports on BA shares. Royal Bank of Canada dropped their price target on Boeing from $225.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, April 16th. Robert W. Baird dropped their target price on Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, June 3rd. Wells Fargo & Company reduced their price target on shares of Boeing from $190.00 to $185.00 and set an “equal weight” rating on the stock in a research report on Friday. Citigroup lowered their price objective on shares of Boeing from $252.00 to $224.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, Baird R W raised shares of Boeing to a “strong-buy” rating in a report on Monday, June 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $215.65.

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.