Boeing (NYSE:BA) Earns Outperform Rating from Analysts at Royal Bank of Canada

Royal Bank of Canada assumed coverage on shares of Boeing (NYSE:BA) in a report issued on Wednesday, BenzingaRatingsTable reports. The brokerage issued an outperform rating and a $164.00 target price on the aircraft producer’s stock.

A number of other analysts have also issued reports on BA. Sanford C. Bernstein restated a buy rating and issued a $401.00 target price on shares of Boeing in a report on Wednesday, January 29th. Buckingham Research increased their target price on Boeing from $308.00 to $350.00 and gave the company a neutral rating in a report on Wednesday, February 5th. ValuEngine lowered Boeing from a strong-buy rating to a buy rating in a report on Friday, May 1st. Cowen restated a hold rating and issued a $150.00 target price on shares of Boeing in a report on Tuesday, May 12th. Finally, Credit Suisse Group cut their price objective on Boeing from $367.00 to $187.00 and set a neutral rating for the company in a report on Friday, March 27th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. Boeing presently has a consensus rating of Hold and an average target price of $231.04.

Shares of BA traded down $1.47 during trading hours on Wednesday, hitting $137.53. 21,072,749 shares of the company were exchanged, compared to its average volume of 33,287,024. The company has a market capitalization of $78.44 billion, a PE ratio of -22.69 and a beta of 1.45. The firm has a fifty day simple moving average of $135.22 and a 200-day simple moving average of $264.07. Boeing has a one year low of $89.00 and a one year high of $391.00.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, April 29th. The aircraft producer reported ($1.70) earnings per share for the quarter, topping the consensus estimate of ($2.04) by $0.34. The business had revenue of $16.91 billion during the quarter, compared to analyst estimates of $16.90 billion. Boeing had a negative return on equity of 3.08% and a negative net margin of 4.84%. The company’s revenue was down 26.2% compared to the same quarter last year. During the same period last year, the company posted $3.16 EPS. Equities analysts anticipate that Boeing will post -5.05 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of the company. Auxier Asset Management grew its position in Boeing by 0.7% during the fourth quarter. Auxier Asset Management now owns 15,199 shares of the aircraft producer’s stock worth $4,951,000 after buying an additional 100 shares in the last quarter. Capital Wealth Planning LLC grew its position in Boeing by 4.4% during the fourth quarter. Capital Wealth Planning LLC now owns 200,712 shares of the aircraft producer’s stock worth $65,384,000 after buying an additional 8,482 shares in the last quarter. Shoker Investment Counsel Inc. grew its position in Boeing by 1.6% during the fourth quarter. Shoker Investment Counsel Inc. now owns 5,481 shares of the aircraft producer’s stock worth $1,785,000 after buying an additional 85 shares in the last quarter. 360 Financial Inc. acquired a new stake in Boeing during the fourth quarter worth about $226,000. Finally, Circle Wealth Management LLC grew its position in Boeing by 34.8% during the fourth quarter. Circle Wealth Management LLC now owns 1,070 shares of the aircraft producer’s stock worth $349,000 after buying an additional 276 shares in the last quarter. 65.59% of the stock is currently owned by institutional investors.

About Boeing

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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