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Stock Update (NYSE:BA): State lawmakers nix bill linking aerospace tax breaks to Boeing jobs

[Reuters] – Washington state lawmakers voted down a bill on Friday that would have linked $8.9 billion in state aerospace industry tax breaks to Boeing Co employment levels. Read more on this. The Boeing Company (BA) , valued at $81.70B, started trading this morning at $123.71. Looking at today’s market, BA one day range is $121.03 to $124.17 and has traded between $115.02 and $158.83 over the past 12 months. BA shares are currently priced at 14.56x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 42.68x earnings multiple for the same period. And for those looking to make a return holding the stock, the company pays shareholders $4.36 per share annually in dividends, yielding 3.59%. In a review of the consensus earnings estimate this quarter, 16 sell-side analysts are looking at $1.87 per share, which would be $0.10 worse than the year-ago quarter and a $0.32 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $8.49 is a $0.77 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $21.88 Billion. If reported, that would be a 1.22% 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. When considering if the stock is under or overvalued, the average price target is $148.17, which is 19.77% above where the stock opened this morning. See more in (NYSE:BA) Similar Articles: Company Update: The Boeing Company (NYSE:BA) – UTC Aerospace Systems and Boeing celebrate the first flight of the 737 MAX Stock Update: The Boeing Company (NYSE:BA) – Boeing Business Jets Announces Four New BBJ MAX 8 Orders Stock Update: The Boeing Company (NYSE:BA) – Boeing rejects Aerojet Rocketdyne bid for ULA launch venture
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