Boeing (NYSE:BA) Shares Up 1.4% – Here’s Why

Shares of The Boeing Company (NYSE:BA) traded up 1.4% during mid-day trading on Wednesday . The company traded as high as $210.65 and last traded at $208.6050. 6,353,705 shares were traded during trading, a decline of 5% from the average daily volume of 6,653,219 shares. The stock had previously closed at $205.66.

More Boeing News

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Potential Ethiopian Airlines freighter order: Ethiopian Airlines is reportedly nearing an agreement to purchase up to 10 long-haul Boeing freighters. Although the deal is not yet finalized, it would support Boeing’s backlog and strengthen its position in the growing cargo-aircraft market. Ethiopian Airlines nears Boeing cargo plane order
• Positive Sentiment: Argus upgraded Boeing to Buy: Argus cited Boeing’s second-quarter cash-flow turnaround, substantial order backlog, expected sales growth and improving margins. The upgrade suggests confidence that production and profitability issues are gradually being addressed. Q2 Cash Flow Turnaround Supports Boeing’s Rating Upgrade
• Positive Sentiment: Satellite-delivery milestone: Boeing delivered the final group of mPower communications satellites, providing a positive operational update for its space business and helping counter some of the division’s past execution concerns. Boeing Delivers Final Round of mPower Satellites
• Positive Sentiment: Defense remains a growth opportunity: Boeing’s defense unit has an approximately $85 billion backlog, with several programs moving into low-rate production. This could diversify revenue and provide longer-term growth if execution improves. Can Boeing’s Defense Business Become a Bigger Growth Driver?
• Neutral Sentiment: CEO Kelly Ortberg is scheduled to speak at the Morgan Stanley Laguna Conference on September 16. Investors may look for updates on production rates, cash flow and the recovery plan, but no new guidance has been announced. Boeing CEO to Speak at Morgan Stanley Laguna Conference
• Negative Sentiment: Engineering labor risk persists: Boeing and the union representing roughly 17,000 engineers and technical workers will resume negotiations on September 8 after workers rejected prior contract offers and authorized a possible strike. A work stoppage could disrupt production, raise costs and delay the company’s recovery. Boeing and Engineers Union Resume Contract Talks

Analyst Upgrades and Downgrades

BA has been the topic of a number of recent research reports. UBS Group assumed coverage on Boeing in a research report on Tuesday, August 11th. They set a “buy” rating on the stock. BNP Paribas Exane upgraded shares of Boeing from an “underperform” rating to an “outperform” rating and boosted their price target for the company from $230.00 to $300.00 in a research report on Monday, August 3rd. Royal Bank Of Canada cut their price objective on Boeing from $275.00 to $265.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Citigroup cut shares of Boeing from a “buy” rating to a “sell” rating in a research note on Tuesday, August 11th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Boeing in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Boeing presently has a consensus rating of “Moderate Buy” and a consensus target price of $272.58.

Boeing Stock Performance

The stock has a 50-day moving average of $220.11 and a 200-day moving average of $220.73. The firm has a market cap of $164.88 billion, a price-to-earnings ratio of 90.31 and a beta of 1.21. The company has a debt-to-equity ratio of 6.77, a quick ratio of 0.33 and a current ratio of 1.14.

Boeing (NYSE:BA) last released its earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.42). The firm had revenue of $24.56 billion during the quarter, compared to the consensus estimate of $24.26 billion. Boeing had a net margin of 2.41% and a negative return on equity of 346.82%. Boeing’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.24) earnings per share. As a group, analysts anticipate that The Boeing Company will post -0.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted its stake in shares of Boeing by 20,689.6% in the second quarter. California State Teachers Retirement System now owns 245,894,334 shares of the aircraft producer’s stock valued at $53,228,746,000 after buying an additional 244,711,560 shares during the period. Jupiter Topco LLC acquired a new stake in shares of Boeing in the 2nd quarter valued at approximately $911,878,000. Bank of New York Mellon Corp bought a new stake in shares of Boeing during the second quarter worth $747,763,000. Legal & General Group Plc acquired a new position in Boeing in the 2nd quarter worth about $710,816,000. Finally, Deutsche Bank AG bought a new position in Boeing in the 2nd quarter valued at approximately $539,456,000. Institutional investors own 64.82% of the company’s stock.

Boeing Company Profile

Boeing Company (NYSE: BA) is an American multinational corporation that designs, manufactures and services commercial airplanes, defense systems, and space and security technologies. Founded in 1916 by William E. Boeing in Seattle, the company today operates as an integrated aerospace and defense contractor with a global customer base. Boeing relocated its corporate headquarters to Arlington, Virginia in 2022 and maintains extensive engineering, manufacturing and service operations across the United States and around the world.

Boeing’s principal lines of business include Commercial Airplanes, which produces and supports a range of jetliners used by airlines globally; Defense, Space & Security, which develops military aircraft, rotorcraft, surveillance and reconnaissance systems, satellites, and launch and missile systems; and Boeing Global Services, which provides aftermarket maintenance, training, spare parts, digital analytics and logistics support.