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Company Update (NYSE:BA): Boeing gets U.S. license to talk deals with Iranian airlines

[Reuters] – Boeing Co said on Friday that the United States gave it a license to hold talks with airlines in Iran about buying jetliners, but said it would need additional U.S. approval to make sales. Boeing’s license, received on Thursday, marked a step toward catching up with European rival Airbus, which last month agreed to sell Iran 118 planes worth about $27 billion at list prices. “We have applied for and received a license to assess the current commercial passenger airplane needs of U.S. Government-approved Iranian airlines,” Boeing said in a statement. Read more on this. The Boeing Company (BA) , with a current value of $76.29B, began trading this morning at $117.31. During the trading session, BA traded between $114.42 to $117.33 and has traded between $102.10 and $158.83 over the past 12 months. BA shares are currently priced at 13.85x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry ’s 40.18x forward p/e ratio. The company pays shareholders $4.36 per share annually in dividends, yielding 4.01%. According to a consensus of 17 analysts, the earnings estimate of $1.84 per share would be $0.13 worse than the year-ago quarter and a $0.35 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $8.49, which would be a $0.77 improvement when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $21.91 Billion. If realized, that would be a 1.08% decrease over the year-ago quarter. In terms of ratings, Buckingham Research upgraded BA from Underperform to Neutral (Feb 18, 2016). Previously, JP Morgan downgraded BA from Overweight to Neutral. When considering if the stock is under or overvalued, the average price target is $142.89, which is 21.81% above where the stock opened this morning. See more in (NYSE:BA) Similar Articles: Company Update: The Boeing Company (NYSE:BA) – Boeing says China Postal Airlines orders 10 737-800 converted freighters Stock Update (NYSE:BA): EXIM saga risks Boeing jet orders – Ethiopian Airlines Market Update: The Boeing Company (NYSE:BA) – Boeing tanker plane makes first flight
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