William Blair Comments on The Boeing Company’s Q3 2024 Earnings (NYSE:BA)

The Boeing Company (NYSE:BA) – Investment analysts at William Blair lowered their Q3 2024 earnings per share estimates for shares of Boeing in a research report issued on Monday, October 14th. William Blair analyst L. Dipalma now expects that the aircraft producer will earn ($10.54) per share for the quarter, down from their previous estimate of ($1.16). The consensus estimate for Boeing’s current full-year earnings is ($5.35) per share. William Blair also issued estimates for Boeing’s Q4 2024 earnings at ($3.05) EPS, FY2024 earnings at ($17.62) EPS and FY2025 earnings at ($2.16) EPS.

Several other research firms have also recently issued reports on BA. Jefferies Financial Group decreased their price target on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Susquehanna reissued a “positive” rating and set a $230.00 price target on shares of Boeing in a research note on Wednesday, August 14th. Sanford C. Bernstein lowered their price objective on Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. The Goldman Sachs Group reduced their target price on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Three equities 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, Boeing currently has an average rating of “Moderate Buy” and an average price target of $201.00.

Boeing Stock Performance

BA opened at $152.45 on Wednesday. The business’s fifty day moving average is $161.80 and its two-hundred day moving average is $173.13. Boeing has a one year low of $146.02 and a one year high of $267.54. The company has a market cap of $93.59 billion, a price-to-earnings ratio of -42.94 and a beta of 1.57.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The firm had revenue of $16.87 billion for the quarter, compared to analyst estimates of $17.35 billion. During the same period last year, the business earned ($0.82) EPS. The business’s revenue for the quarter was down 14.6% on a year-over-year basis.

Institutional Investors Weigh In On Boeing

A number of hedge funds have recently bought and sold shares of the business. Kiely Wealth Advisory Group Inc. bought a new position in shares of Boeing during the second quarter worth about $33,000. Hobbs Group Advisors LLC acquired a new position in Boeing during the 2nd quarter valued at about $34,000. McClarren Financial Advisors Inc. raised its holdings in Boeing by 451.4% during the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after purchasing an additional 158 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Boeing by 351.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after buying an additional 165 shares in the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of Boeing in the 2nd quarter worth approximately $39,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

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.