Boeing (NYSE:BA) Updates Q3 2024 Earnings Guidance

Boeing (NYSE:BA) issued an update on its third quarter 2024 earnings guidance on Friday morning. The company provided EPS guidance of -9.970–9.970 for the period, compared to the consensus EPS estimate of -1.650. The company issued revenue guidance of $17.8 billion-$17.8 billion, compared to the consensus revenue estimate of $18.4 billion.

Boeing Stock Up 3.0 %

Shares of NYSE BA opened at $151.02 on Friday. The firm has a market capitalization of $92.71 billion, a P/E ratio of -42.54 and a beta of 1.57. The stock’s 50-day simple moving average is $162.41 and its two-hundred day simple moving average is $173.85. Boeing has a twelve month low of $146.26 and a twelve month high of $267.54.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The company had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. During the same quarter last year, the business posted ($0.82) EPS. The company’s revenue was down 14.6% compared to the same quarter last year. As a group, research analysts anticipate that Boeing will post -5.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BA has been the topic of a number of research analyst reports. Stifel Nicolaus increased their target price on Boeing from $230.00 to $235.00 and gave the company a buy rating in a research note on Thursday, August 1st. The Goldman Sachs Group decreased their price objective on Boeing from $232.00 to $202.00 and set a buy rating on the stock in a report on Tuesday, September 24th. Susquehanna reaffirmed a positive rating and issued a $230.00 target price on shares of Boeing in a research note on Wednesday, August 14th. Wells Fargo & Company decreased their price target on shares of Boeing from $119.00 to $110.00 and set an underweight rating on the stock in a research note on Tuesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Boeing from $225.00 to $195.00 and set a buy rating on the stock in a report on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $206.00.

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.