Boeing (BA) Price Target Cut to $370.00 by Analysts at Buckingham Research

Boeing (NYSE:BA) had its price objective reduced by Buckingham Research from $390.00 to $370.00 in a research report sent to investors on Monday, BenzingaRatingsTable reports. They currently have a neutral rating on the aircraft producer’s stock.

Other research analysts have also issued reports about the company. TheStreet lowered Boeing from an a+ rating to a c+ rating in a research report on Wednesday, April 24th. Berenberg Bank set a $430.00 price target on Boeing and gave the stock a buy rating in a research report on Thursday, April 25th. Credit Suisse Group reissued a buy rating and issued a $440.00 price target on shares of Boeing in a research report on Friday, April 12th. ValuEngine raised Boeing from a hold rating to a buy rating in a research report on Wednesday, May 1st. Finally, Edward Jones lowered Boeing from a buy rating to a hold rating in a research report on Monday, March 11th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $413.01.

Shares of NYSE BA opened at $345.64 on Monday. The company has a debt-to-equity ratio of 48.98, a current ratio of 1.07 and a quick ratio of 0.29. The firm has a market cap of $189.81 billion, a price-to-earnings ratio of 21.59, a PEG ratio of 2.08 and a beta of 1.30. Boeing has a twelve month low of $292.47 and a twelve month high of $446.01.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, April 24th. The aircraft producer reported $3.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.11 by $0.05. The business had revenue of $22.92 billion during the quarter, compared to analyst estimates of $23.04 billion. Boeing had a negative return on equity of 1,857.97% and a net margin of 10.06%. Boeing’s revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.64 EPS. Research analysts expect that Boeing will post 14.52 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be paid a dividend of $2.055 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $8.22 annualized dividend and a yield of 2.38%. Boeing’s dividend payout ratio (DPR) is 51.34%.

A number of hedge funds have recently made changes to their positions in the stock. Hilltop Holdings Inc. grew its stake in Boeing by 24.2% during the 1st quarter. Hilltop Holdings Inc. now owns 10,532 shares of the aircraft producer’s stock valued at $4,017,000 after purchasing an additional 2,050 shares during the last quarter. Pentwater Capital Management LP purchased a new stake in Boeing during the 1st quarter valued at about $12,968,000. Ladenburg Thalmann Financial Services Inc. grew its stake in Boeing by 23.8% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 194,271 shares of the aircraft producer’s stock valued at $74,089,000 after purchasing an additional 37,365 shares during the last quarter. Almanack Investment Partners LLC. grew its stake in Boeing by 8.5% during the 1st quarter. Almanack Investment Partners LLC. now owns 999 shares of the aircraft producer’s stock valued at $381,000 after purchasing an additional 78 shares during the last quarter. Finally, Natixis Advisors L.P. grew its stake in Boeing by 8.0% during the 1st quarter. Natixis Advisors L.P. now owns 54,354 shares of the aircraft producer’s stock valued at $20,732,000 after purchasing an additional 4,015 shares during the last quarter. Hedge funds and other institutional investors own 68.95% 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.

Recommended Story: What is the cash asset ratio?

Analyst Recommendations for Boeing (NYSE:BA)

Receive News & Ratings for Boeing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boeing and related companies with MarketBeat.com's FREE daily email newsletter.