Boeing Reports Earnings Results, Falls Short of Estimates

Boeing (NYSE:BA - Get Free Report) released its earnings report on Wednesday, revealing a significant miss compared to analyst predictions. For the quarter, the company reported an earnings per share (EPS) loss of ($10.44), which fell short of the expected loss of ($4.85) by a substantial margin of ($5.59), according to Briefing.com.

In terms of revenue, Boeing generated $17.84 billion during the quarter. This figure slightly exceeded the consensus estimate of $17.81 billion. However, it’s worth noting that the quarterly revenue represented a 1.5% decline compared to the same period last year. During the corresponding quarter last year, Boeing reported an EPS loss of ($3.26).

Boeing's Stock Performance

Following the earnings announcement, Boeing's stock experienced a decline, dropping $2.96 to reach a price of $154.10 in Thursday trading. The trading volume was measured at 5,140,495 shares, which was lower than the average volume of 8,106,165 shares. Boeing currently holds a market capitalization of $94.60 billion, a price-to-earnings (PE) ratio of -43.89, and a beta of 1.57, indicating higher volatility compared to the market. Over the past year, Boeing shares have hit a low of $146.02 and a high of $267.54. The company's fifty-day simple moving average stands at $160.61, while the 200-day simple moving average is $172.01.

Insights from Wall Street Analysts

Currently, the stock has received ratings from several analysts, with three issuing sell ratings, eight assigning holds, fourteen recommending buys, and one giving a strong buy rating. According to MarketBeat data, Boeing carries an average rating of "Moderate Buy" with an average target price of $194.95.

About Boeing

The Boeing Company, along with its subsidiaries, is involved in the design, development, manufacturing, sale, service, and support of commercial jetliners, military aircraft, satellites, missile defense systems, human space flight, launch systems, and various services globally. Boeing's operations are structured into different segments, including Commercial Airplanes; Defense, Space & Security; and Global Services.

Conclusion

As investors look towards future market scenarios, Boeing's recent earnings results highlight significant challenges the company faces in the current economic environment. The substantial miss on EPS underscores the need for the company to strategically address its financial health moving forward.

Boeing, Earnings, Stocks