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Market Update (NYSE:BA): Boeing wins contract for 11 P-8A aircraft

[Reuters] – Boeing Co has been awarded a $235.3 million contract for 11 P-8A maritime surveillance aircraft, the Pentagon announced on Tuesday. The work is expected to be completed in January 2017, the Department … Read more on this. The Boeing Company (BA) , with a current market cap of $84.16B, opened at $126.15. Looking at today’s trading action, the company’s one day range from $125.58 to $128.59 with the price of the stock fluctuating between $102.10 to $155.50 over the last 52 weeks. BA shares are currently priced at 14.86x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 12.91x earnings multiple. The company pays shareholders $4.36 per share annually in dividends, yielding 3.43%. In a review of the consensus earnings estimate this quarter, 16 sell-side analysts are looking at $1.82 per share, which would be $0.15 worse than the year-ago quarter and a $0.37 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $8.50 would be a $0.78 improvement 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 $21.90 Billion. If realized, that would be a 1.13% decrease over the year-ago quarter. Recently, Canaccord Genuity downgraded BA from Buy to Hold (Mar 3, 2016). Previously, Buckingham Research upgraded BA from Underperform to Neutral. Investors should keep in mind is that the average price target is $137.95, which is 9.35% above where the stock opened this morning. See more in (NYSE:BA) Similar Articles: Market Update: The Boeing Company (NYSE:BA) – Boeing wins contract to build new Air Force One presidential jets Market Update: The Boeing Company (NYSE:BA) – Alcoa wins supply agreement with Boeing Company Update (NYSE:BA): Boeing wins $898 million contract for 15 EA-18G fighter jets
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