Boeing (NYSE:BA) Announces Quarterly Earnings Results, Misses Estimates By $5.59 EPS

Boeing (NYSE:BA) announced its quarterly earnings data on Wednesday. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($4.85) by ($5.59), Briefing.com reports. The company had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the prior year, the business posted ($3.26) earnings per share. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year.

Boeing Stock Performance

Shares of NYSE BA traded down $3.40 during mid-day trading on Thursday, hitting $153.66. The stock had a trading volume of 5,386,562 shares, compared to its average volume of 8,107,359. The company has a 50 day moving average of $160.61 and a two-hundred day moving average of $172.01. Boeing has a twelve month low of $146.02 and a twelve month high of $267.54. The firm has a market cap of $94.33 billion, a PE ratio of -43.89 and a beta of 1.57.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Sanford C. Bernstein dropped their price objective on Boeing from $207.00 to $195.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Citigroup dropped their price objective on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. The Goldman Sachs Group dropped their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Jefferies Financial Group dropped their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Finally, Stifel Nicolaus upped their target price on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $194.95.

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.