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Market Update: The Boeing Company (NYSE:BA) – Boeing wins contract to build new Air Force One presidential jets

[Reuters] – Boeing Co (BA.N) has won a contract to start preliminary work on a new fleet of Air Force One presidential aircraft based on its 747-8 jumbo jet, the Pentagon said on Friday. The U.S. Air Force awarded Boeing an initial contract worth $25.8 million to reduce risk and lower the cost of the program by looking at the tradeoffs between the requirements and design of the new plane, according to the Pentagon’s daily digest of arms deals. Details about the total value of the new contract have not been released, but the Air Force has previously said that it had earmarked $1.65 billion for two replacement jets. Read more on this. The Boeing Company (BA) , valued at $80.08B, began trading this morning at $118.14. During the trading session, BA traded between $118.02 to $120.18 and has traded between $115.02 and $158.83 over the past 12 months. BA shares are currently priced at 13.36x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry ’s 42.53x forward p/e ratio. And for income investors, the company pays shareholders $4.36 per share annually in dividends, yielding 3.74%. According to a consensus of 15 analysts, the earnings estimate of $1.92 per share would be $0.05 worse than the year-ago quarter and a $0.27 sequential decrease. Investors should also note that the full-year EPS estimate of $8.83 is a $1.11 better when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $22.09 Billion. If realized, that would be a 0.27% decrease over the year-ago quarter. Recently, Standpoint Research upgraded BA from Hold to Buy (Jan 14, 2016). Previously, Wells Fargo downgraded BA from Outperform to Market Perform. The average price target for BA shares is $153.63, which is 30.04% above where the stock opened this morning. See more in (NYSE:BA) Similar Articles: Market Update (NYSE:BA): Boeing, Lockheed Martin Protest Air Force Bomber Contract Award Company Update (NYSE:BA): Boeing wins $898 million contract for 15 EA-18G fighter jets Company Update: The Boeing Company (NYSE:BA) – Lockheed-Boeing launch venture wins $882 mln U.S. contract
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