Boeing Reports Disappointing Earnings Results

Boeing (NYSE:BA) released its earnings results on Wednesday, reporting a loss of ($10.44) per share for the quarter. This figure fell short of analysts' expectations, which had predicted a loss of ($4.85) per share, resulting in a miss of $5.59. In terms of revenue, Boeing generated $17.84 billion during the quarter, slightly exceeding the consensus estimate of $17.81 billion. However, this represents a decline of 1.5% compared to the same quarter from the previous year, where the company reported a loss of ($3.26) per share.

Boeing Stock Performance

Following the earnings announcement, Boeing's shares encountered a decline, dropping $2.96 during trading hours on Thursday, bringing the stock price down to $154.10. The trading volume witnessed was notable, reaching 5,140,495 shares, although this was below the average volume of 8,106,165. Boeing currently holds a market capitalization of $94.60 billion, with a price-to-earnings (PE) ratio of -43.89 and a beta of 1.57. Over the past year, the stock has fluctuated between a low of $146.02 and a high of $267.54, while its fifty-day moving average rests at $160.61 and its 200-day moving average at $172.01.

Market Analysts' Perspectives

Several analysts on Wall Street have shared their insights regarding Boeing’s performance. TD Cowen adjusted their price target for Boeing from $200.00 to $190.00, maintaining a "buy" rating for the stock as of October 14th. Meanwhile, Sanford C. Bernstein revised their price target downwards from $207.00 to $195.00, opting for an "outperform" rating. Morgan Stanley also adjusted their target price from $195.00 to $170.00, assigning an "equal weight" rating to Boeing. Robert W. Baird lowered their price target from $240.00 to $200.00, keeping an "outperform" rating in place. Lastly, Benchmark reiterated a "buy" rating with a price target of $250.00. Currently, three analysts have rated Boeing as a sell, eight as a hold, fourteen as a buy, and one as a strong buy, leading to an average rating of "Moderate Buy" and an average target price of $194.95 as reported by MarketBeat.

Boeing Overview

The Boeing Company, along with its subsidiaries, is actively engaged in the design, development, manufacturing, selling, and servicing of various aerospace products. Their offerings include commercial jetliners, military aircraft, satellites, missile defense systems, human space flight technology, and associated services on a global scale. Boeing operates through three main segments: Commercial Airplanes; Defense, Space & Security; and Global Services.

Boeing, Earnings, Stocks