Oppenheimer lowered shares of Boeing (NYSE:BA) from an outperform rating to a market perform rating in a report released on Wednesday, TheFlyOnTheWall.com reports. Oppenheimer currently has $140.00 price objective on the stock.
“We’re downgrading Boeing to Perform from Outperform and removing our $140 PT, which has been substantially achieved. While we still see Boeing’s FCF improving over the next two years, we believe investors are overlooking how a convergence of factors are aligning to make 2015 a medium-term peak. Yes, 787 investment should (should) top out in 2015, but the call on cash is likely to be quickly replaced by investments in the 737MAX and 777x. On the P&L, meanwhile, 2016 looks to bring a material drop-off in contribution from several key cash cow programs, including the 777, C-17, F-18, and V-22. Boeing appears compelling at 12.8x FY15 FCF, a little less so at 14.0x FY16.,” the firm’s analyst commented.
Several other analysts have also recently commented on the stock. Analysts at TheStreet reiterated a buy rating on shares of Boeing in a research note to investors on Monday. Separately, analysts at Deutsche Bank reiterated a buy rating on shares of Boeing in a research note to investors on Monday, November 4th. They now have a $156.00 price target on the stock. Seven analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $135.40.
Boeing (NYSE:BA) opened at 132.45 on Wednesday. Boeing has a one year low of $72.68 and a one year high of $142.00. The stock has a 50-day moving average of $126.7 and a 200-day moving average of $110.3. The company has a market cap of $99.530 billion and a P/E ratio of 23.53.
Boeing (NYSE:BA) last announced its earnings results on Wednesday, October 23rd. The company reported $1.80 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.54 by $0.26. The company had revenue of $22.10 billion for the quarter, compared to the consensus estimate of $21.66 billion. During the same quarter in the prior year, the company posted $1.35 earnings per share. The company’s quarterly revenue was up 10.6% on a year-over-year basis. On average, analysts predict that Boeing will post $6.73 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, December 6th. Investors of record on Friday, November 8th will be paid a dividend of $0.49 per share. This represents a $1.94 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Wednesday, November 6th.
The Boeing Company (NYSE:BA) is an aerospace company.
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