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Market Update (NYSE:BA): U.S. Navy’s ‘unfunded priorities’ list has Boeing, Lockheed fighters

[Reuters] – The U.S. Navy included 14 Boeing Co F/A-18E/F Super Hornets valued at $1.5 billion and two Lockheed Martin Corp F-35C jets worth $270 million on a list of “unfunded priorities” that it prepared for Congress, according to U.S. defense officials. The list, which often lays the groundwork for Congress to add funding to the official Pentagon budget request, also includes $433 million in the final third tranche of funding for a DDG-51 destroyer, said one of the sources. The ship will be built by Huntington Ingalls Industries Inc and General Dynamics Corp. Read more on this. The Boeing Company (BA) , with a current market cap of $78.78B, opened at $119.63. Shares have traded today between $118.60 and $120.75 per share and has traded between $102.10 and $155.99 over the past year. Boeing (BA) shares are currently priced at 14.13x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 42.78x 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 3.69%. In a review of the consensus earnings estimate this quarter, 17 sell-side analysts are looking at $1.84 per share, which would be $0.13 worse than the year-ago quarter and a $0.35 sequential decrease. The full-year EPS estimate is $8.49 which would be a $0.77 improvement than last year’s full-year earnings. 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. With the above information in mind, readers should note that the average price target is $141.00, which is 17.86% above where the stock opened this morning. See more in (NYSE:BA) Similar Articles: Stock Update (NYSE:BA): Exclusive: Boeing nears decision to self-fund more F/A-18 fighters Market Update (NYSE:BA): Boeing, Lockheed Martin Protest Air Force Bomber Contract Award Company Update: The Boeing Company (NYSE:BA) – Lockheed-Boeing launch venture wins $882 mln U.S. contract
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