Boeing’s (BA) “Buy” Rating Reiterated at Sanford C. Bernstein

Sanford C. Bernstein reaffirmed their buy rating on shares of Boeing (NYSE:BA) in a research note issued to investors on Tuesday, TipRanks reports. The brokerage currently has a $401.00 price objective on the aircraft producer’s stock.

BA has been the subject of several other research reports. Vertical Research reaffirmed a buy rating and issued a $400.00 target price on shares of Boeing in a research note on Tuesday, December 17th. Berenberg Bank lowered Boeing from a buy rating to a hold rating and cut their target price for the stock from $410.00 to $350.00 in a research note on Thursday, January 9th. Citigroup cut their target price on Boeing from $430.00 to $420.00 and set a buy rating for the company in a research note on Thursday, October 24th. Robert W. Baird cut their target price on Boeing from $342.00 to $322.00 and set a neutral rating for the company in a research note on Tuesday, December 17th. Finally, Jefferies Financial Group set a $420.00 target price on Boeing and gave the stock a buy rating in a research note on Tuesday, December 17th. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have issued a buy rating to the company. Boeing has an average rating of Hold and a consensus price target of $350.53.

Shares of BA opened at $317.79 on Tuesday. The firm has a market cap of $173.90 billion, a P/E ratio of 23.75, a P/E/G ratio of 2.60 and a beta of 1.19. The stock has a 50 day simple moving average of $333.05 and a two-hundred day simple moving average of $352.66. Boeing has a 1 year low of $302.72 and a 1 year high of $446.01.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, October 23rd. The aircraft producer reported $1.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.04 by ($0.59). The firm had revenue of $19.98 billion during the quarter, compared to analysts’ expectations of $20 billion. Boeing had a negative return on equity of 367.68% and a net margin of 4.37%. The firm’s quarterly revenue was down 20.5% compared to the same quarter last year. During the same period in the prior year, the company earned $3.58 EPS. As a group, equities research analysts anticipate that Boeing will post 0.76 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 14th will be given a $2.055 dividend. The ex-dividend date is Thursday, February 13th. This represents a $8.22 annualized dividend and a yield of 2.59%. Boeing’s payout ratio is currently 51.34%.

Hedge funds have recently made changes to their positions in the business. 1 North Wealth Services LLC bought a new position in shares of Boeing during the third quarter valued at approximately $32,000. Savior LLC bought a new position in shares of Boeing during the fourth quarter valued at approximately $36,000. Atwater Malick LLC bought a new position in shares of Boeing during the third quarter valued at approximately $39,000. Transamerica Financial Advisors Inc. bought a new position in shares of Boeing during the second quarter valued at approximately $40,000. Finally, Veritas Investment Management LLP bought a new position in shares of Boeing during the third quarter valued at approximately $40,000. Hedge funds and other institutional investors own 68.88% 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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