Boeing (NYSE:BA) Sets New 12-Month Low on Disappointing Earnings

The Boeing Company (NYSE:BA)’s stock price reached a new 52-week low during mid-day trading on Tuesday following a dissappointing earnings announcement. The stock traded as low as $172.30 and last traded at $170.5920, with a volume of 10,622,340 shares trading hands. The stock had previously closed at $188.31.

The aircraft producer reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.09). The business had revenue of $24.19 billion for the quarter, compared to analysts’ expectations of $23.95 billion. Boeing had a net margin of 2.41% and a negative return on equity of 346.82%. The business’s revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business posted ($7.47) earnings per share.

More Boeing News

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing reported $1.5 billion in operating cash flow and $500 million in free cash flow, signaling progress in its turnaround and liquidity efforts. Boeing Reports Third Quarter Results
• Positive Sentiment: Total backlog reached a record $745 billion, including more than 6,300 commercial aircraft. Boeing also delivered certification milestones for the 737-7 and 737-10 and was selected by the U.S. Navy for the F/A-XX fighter program. Boeing Reports Third-Quarter Results
• Positive Sentiment: Defense, Space & Security revenue increased 15% to $7.9 billion, with a 6.2% operating margin, while Global Services revenue rose 4% to $5.6 billion and maintained an 18.3% margin. Boeing Q3 Results Analysis
• Neutral Sentiment: Revenue increased 3.9% year over year to approximately $24.2 billion, but the improvement was not enough to satisfy investors because earnings remained below expectations. Boeing Earnings Show Progress
• Negative Sentiment: Boeing posted a $116 million GAAP net loss, or $0.26 per share, and an adjusted loss of $0.34 per share versus an expected loss of roughly $0.25. The earnings miss was the main immediate pressure on BA. Boeing Reports Q3 Loss
• Negative Sentiment: Commercial Airplanes recorded a $697 million operating loss and a negative 6.5% margin. A weaker delivery mix, higher projected costs from production-rate changes and elevated supply-chain expenses raised doubts about the pace and profitability of the jetliner recovery. Boeing Jetliner Production Challenges

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BA. TD Cowen cut their price objective on Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, October 9th. Barclays started coverage on shares of Boeing in a research report on Friday, October 9th. They set an “overweight” rating and a $300.00 target price for the company. DZ Bank reaffirmed a “buy” rating on shares of Boeing in a report on Thursday, August 6th. Rothschild & Co Redburn increased their price target on shares of Boeing from $260.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, Robert W. Baird set a $300.00 price target on Boeing and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $266.96.

Hedge Funds Weigh In On Boeing

Hedge funds have recently bought and sold shares of the business. Highland Investment Advisors LLC bought a new stake in Boeing during the 2nd quarter valued at approximately $26,000. Strategic Wealth Advisors LLC acquired a new position in shares of Boeing during the second quarter valued at $27,000. Bell Investment Advisors Inc acquired a new position in Boeing in the second quarter valued at approximately $29,000. Security National Bank of SO Dak acquired a new position in shares of Boeing in the 2nd quarter valued at $30,000. Finally, Retirement Wealth Solutions LLC boosted its holdings in Boeing by 3,575.0% during the third quarter. Retirement Wealth Solutions LLC now owns 147 shares of the aircraft producer’s stock worth $27,000 after buying an additional 143 shares during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Price Performance

The company has a current ratio of 1.14, a quick ratio of 0.33 and a debt-to-equity ratio of 6.77. The company has a 50 day moving average of $201.13 and a 200 day moving average of $218.67. The firm has a market cap of $134.33 billion, a price-to-earnings ratio of 73.45 and a beta of 1.26.

About Boeing

The Boeing Company (NYSE: BA) is a global aerospace company that designs, manufactures and supports commercial airplanes, military aircraft, satellites, space systems and related products and services. Its offerings serve airlines, government agencies, defense organizations and other customers worldwide.

Boeing operates through three principal business areas: Commercial Airplanes, which develops and produces passenger and cargo aircraft; Defense, Space & Security, which provides military aircraft, weapons systems, satellites and space-related platforms; and Global Services, which offers parts, maintenance, training, engineering and other lifecycle support.

Founded in 1916 by William Boeing, the company has grown into one of the world’s major aerospace manufacturers.