Boeing’s (BA) Neutral Rating Reiterated at Goldman Sachs Group

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Goldman Sachs Group reissued their neutral rating on shares of Boeing (NYSE:BA) in a research note released on Friday morning, Borsen Zeitung reports. The firm currently has a $396.00 target price on the aircraft producer’s stock.

Other equities research analysts have also recently issued reports about the company. Berenberg Bank set a $430.00 price target on Boeing and gave the company a buy rating in a research report on Thursday, April 25th. ValuEngine cut Boeing from a buy rating to a hold rating in a research report on Monday, May 13th. Cowen reiterated a buy rating and set a $460.00 price target on shares of Boeing in a research report on Monday, April 8th. Zacks Investment Research cut shares of Boeing from a strong-buy rating to a hold rating in a research report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. restated a buy rating and issued a $430.00 price objective on shares of Boeing in a research report on Thursday, April 25th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Boeing currently has a consensus rating of Hold and an average target price of $407.40.

Shares of BA opened at $347.16 on Friday. Boeing has a twelve month low of $292.47 and a twelve month high of $446.01. The stock has a market cap of $195.32 billion, a PE ratio of 21.68, a P/E/G ratio of 2.15 and a beta of 1.31. The company has a current ratio of 1.07, a quick ratio of 0.29 and a debt-to-equity ratio of 48.98.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, April 24th. The aircraft producer reported $3.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.11 by $0.05. Boeing had a negative return on equity of 1,857.97% and a net margin of 10.06%. The firm had revenue of $22.92 billion for the quarter, compared to analysts’ expectations of $23.04 billion. During the same period in the prior year, the business posted $3.64 earnings per share. The company’s revenue was down 2.0% on a year-over-year basis. As a group, sell-side analysts predict that Boeing will post 14.43 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 10th were given a dividend of $2.055 per share. This represents a $8.22 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date was Thursday, May 9th. Boeing’s payout ratio is currently 51.34%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC grew its position in Boeing by 26.5% during the first quarter. FMR LLC now owns 11,041,836 shares of the aircraft producer’s stock valued at $4,211,577,000 after acquiring an additional 2,311,630 shares during the last quarter. Horizon Investments LLC bought a new position in Boeing during the first quarter valued at approximately $765,000. Merit Financial Group LLC boosted its stake in shares of Boeing by 77.7% during the first quarter. Merit Financial Group LLC now owns 2,442 shares of the aircraft producer’s stock valued at $931,000 after purchasing an additional 1,068 shares during the period. Laurel Wealth Advisors Inc. boosted its stake in shares of Boeing by 1.0% during the first quarter. Laurel Wealth Advisors Inc. now owns 5,831 shares of the aircraft producer’s stock valued at $2,224,000 after purchasing an additional 60 shares during the period. Finally, B. Riley Wealth Management Inc. boosted its stake in shares of Boeing by 158.8% during the first quarter. B. Riley Wealth Management Inc. now owns 5,791 shares of the aircraft producer’s stock valued at $2,209,000 after purchasing an additional 3,553 shares during the period. Institutional investors and hedge funds own 68.04% of the company’s stock.

Boeing Company Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

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Analyst Recommendations for Boeing (NYSE:BA)

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