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Market Update (NYSE:BA): Boeing still hopes Denmark will buy its Super Hornet jets

[Reuters] – Boeing has challenged the Danish government’s recommendation to buy 27 fighter jets from Lockheed Martin, questioning data used to suggest its Super Hornet fighter jet was more expensive. Boeing told a Danish parliamentary committee on Thursday that the recommendation was based on “incomplete and possibly flawed data”. The Danish minority government announced last week its recommendation to buy Lockheed Martin’s F-35 fighter jet rather than Boeing’s older F/A-18E/F Super Hornet. Read more on this. The Boeing Company (BA) , valued at $81.04B, started trading this morning at $130.24. Looking at the equity, the company’s one day range is $127.08 to $130.43 and has traded between $102.10 and $150.59 over the past year. Priced at 15.47x this year’s forecasted earnings, BA shares are relatively expensive compared to the industry’s 5.95x forward p/e ratio. And for income investors, the company pays shareholders $4.36 per share annually in dividends, yielding 3.30%. According to a consensus of 15 analysts, the earnings estimate of $2.14 per share would be $0.52 better than the year-ago quarter and a $0.02 sequential increase. Investors should also note that the full-year EPS estimate of $8.47 is a $0.75 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 $23.22 Billion. If realized, that would be a 5.38% decrease over the year-ago quarter. In terms of ratings, BofA/Merrill downgraded BA from Neutral to Underperform (Apr 20, 2016). Previously, Canaccord Genuity downgraded BA from Buy to Hold. With the above information in mind, readers should note that the average price target is $145.94, which is 12.05% 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) – Boeing to pay $12 mln to settle U.S. enforcement cases -FAA Market Update (NYSE:BA): Chinese airline orders 110 Boeing jets
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