Flying High: Boeing's rating upgraded to 'Buy'
Boeing Co's rating has been upgraded by Vetr, provider of crowdsourced stocks, from 'hold' to 'buy.' The NYSE-listed Boeing recently topped the earnings per share (EPS) forecasts for the quarter ending October.
Several equity research firms have turned to Boeing and coming out with their ratings and analysis. Barring one research firm, almost all the major equity research reports upgraded rating on Boeing.
About 16 equity research firms have assigned 'buy' rating on Boeing, three put it 'hold' call and one firm gave 'sell' call on the aircraft maker.
Deutsche Bank has restated its 'buy' rating on Boeing and set the price target of $175. Cowen and Company also reconfirmed the 'buy' rating and fixed the $175 price target.
According to a report published by Dakota Financial News (DFN), Canaccord Genuity also reiterated 'buy' rating and set $165 price target. Contrary, Standpoint Research lowered rating from 'buy' to 'hold.' Boeing share price was trading at $144.18 on NYSE.
In a latest research report by Marketbeat.com, the firm has a $155.24 price objective on Boeing's stock and Vetr's price target reflects growth potential of over seven percent in share price.
For the quarter ending October, Boeing reported $2.52 EPS as against the forecast of $2.22. It registered revenues of $25.80 billion for the quarter as against the forecast of $24.02 billion. The revenues for the quarter on year-on-year basis rose 8.7 percent.
As the Boeing is able to deliver the orders in time, the revenues keep growing. Boeing recently delivered its fourth and final Peace Eagle Airborne Early Warning & Control (AEW&C) aircraft to the Turkish Air Force, as reported by Arabian Aerospace Online News Service. This AEW&C is advanced world-class airborne surveillance system.
Boeing including its subsidiaries is engaged in five segments in the aerospace industry. Commercial airplanes, Boeing Military Aircraft, Network & Space Systems (N&SS), Global Services & Support (GS&S) and Boeing Capital (BCC).
Boeing is upgraded super Hornet to US Navy. It has just handed over F/A-18E/F Super Hornet to the US Navy, according to Aviation Week.
This will bridge the gap in the requirement for strike fighter. The Super Hornet helps the US Navy keep the force capable until a replacement is fielded. The Navy's oldest Super Hornet fleet will reach 6,000-hour design lifetime in 2017.
The traded volume in Boeing's stock was 5,021,095 shares. PE ratio is 18.12 and the market capitalization is at $97.14 billion. The 50-day moving average is $146.56 and 200-day moving average is $141.19. The 12-month low of Boeing share price was $115.14 and 12-month high is $158.84. T
he declared dividend of $0.91 per share for the quarter was paid on 4 December. This represents $3.64 annualized dividend and yield of 2.51 percent.