Cowen Trims Boeing (NYSE:BA) Target Price to $419.00

Boeing (NYSE:BA) had its price target lowered by Cowen from $445.00 to $419.00 in a report released on Monday, BenzingaRatingsTable reports. The brokerage currently has an outperform rating on the aircraft producer’s stock.

BA has been the subject of a number of other reports. Buckingham Research restated a hold rating and issued a $365.00 target price (down from $395.00) on shares of Boeing in a research note on Tuesday, October 29th. ValuEngine upgraded Boeing from a hold rating to a buy rating in a research note on Friday, October 25th. Bank of America set a $370.00 target price on Boeing and gave the company a hold rating in a research note on Monday, October 21st. Berenberg Bank restated a buy rating and issued a $410.00 target price on shares of Boeing in a research note on Wednesday, October 30th. Finally, Credit Suisse Group lowered Boeing from an outperform rating to a neutral rating and cut their target price for the company from $416.00 to $323.00 in a research note on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $375.16.

BA opened at $346.29 on Monday. The business has a 50 day moving average of $356.47 and a 200-day moving average of $358.26. The company has a current ratio of 1.11, a quick ratio of 0.31 and a debt-to-equity ratio of 48.98. The stock has a market capitalization of $196.98 billion, a price-to-earnings ratio of 21.63, a P/E/G ratio of 40.63 and a beta of 1.24. Boeing has a 1-year low of $292.47 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 EPS for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.59). The firm had revenue of $19.98 billion during the quarter, compared to analyst estimates of $20 billion. Boeing had a net margin of 4.37% and a negative return on equity of 367.68%. The business’s revenue for the quarter was down 20.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.58 earnings per share. Equities analysts predict that Boeing will post 1.05 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 8th were issued a $2.055 dividend. This represents a $8.22 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend was Thursday, November 7th. Boeing’s dividend payout ratio is 51.34%.

A number of institutional investors have recently bought and sold shares of BA. Nuveen Asset Management LLC boosted its holdings in Boeing by 1,774.6% in the second quarter. Nuveen Asset Management LLC now owns 4,149,922 shares of the aircraft producer’s stock valued at $1,510,613,000 after acquiring an additional 3,928,546 shares during the last quarter. Viking Global Investors LP bought a new position in Boeing during the second quarter worth about $1,010,899,000. Price T Rowe Associates Inc. MD boosted its holdings in Boeing by 7.9% during the second quarter. Price T Rowe Associates Inc. MD now owns 35,740,551 shares of the aircraft producer’s stock worth $13,009,918,000 after buying an additional 2,607,364 shares during the last quarter. Winslow Capital Management LLC bought a new position in Boeing during the second quarter worth about $303,860,000. Finally, Steadfast Capital Management LP acquired a new stake in shares of Boeing during the second quarter worth about $221,601,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

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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