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Company Update (NYSE:BA): Boeing to skip legal challenge to Northrop bomber deal-source

[Reuters] – Boeing Co has told senior U.S. Air Force leaders that it will not take legal action challenging the loss of an $80 billion contract to Northrop Grumman Corp to build a new long-range bomber, a source familiar … Read more on this. The Boeing Company (BA) , with a current market cap of $77.39B, opened at $116.35. A quick look at the market, the company’s stock traded between $115.78 and $117.60 and has traded between $102.10 and $156.91 over the past 12 months. Priced at 13.61x this year’s forecasted earnings, BA shares are relatively inexpensive compared to the industry ’s 40.95x forward p/e ratio. The company pays shareholders $4.36 per share in dividend income per year, for a current yield of 3.71%. 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 $0.33 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $8.49 would be a $0.77 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 $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. The average price target for BA shares is $141.00, which is 21.19% above where the stock opened this morning. See more in (NYSE:BA) Similar Articles: Market Update (NYSE:BA): U.S. agency rejects Boeing protest of Northrop bomber contract Market Update (NYSE:BA): Boeing, Lockheed Martin Protest Air Force Bomber Contract Award Company Update (NYSE:BA): Boeing nears decision on protest of U.S. bomber award to Northrop
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