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

Boeing (NYSE:BA) announced its earnings results on Wednesday. The aircraft producer reported ($10.44) 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. Boeing’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($3.26) EPS.

Boeing Price Performance

Shares of Boeing stock traded down $2.96 during trading hours on Thursday, reaching $154.10. The company had a trading volume of 5,140,495 shares, compared to its average volume of 8,106,165. The firm has a market cap of $94.60 billion, a PE ratio of -43.89 and a beta of 1.57. Boeing has a one year low of $146.02 and a one year high of $267.54. The business has a fifty day simple moving average of $160.61 and a 200 day simple moving average of $172.01.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. TD Cowen cut their price target on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Sanford C. Bernstein decreased their price target on shares of Boeing from $207.00 to $195.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Morgan Stanley reduced their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research note on Friday, October 18th. Robert W. Baird dropped their price target on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Benchmark restated a “buy” rating and set a $250.00 price objective on shares of Boeing in a report on Thursday. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Boeing presently has an average rating of “Moderate Buy” and an average target price 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.