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Company Update: The Boeing Company (NYSE:BA) – After Airbus, Iran edges toward historic Boeing deal

[Reuters] – Iranair is discussing a historic aircraft purchase with Boeing, potentially matching an order for over 100 jets from Airbus, but obstacles to both deals need to be resolved so that last year’s accord to lift sanctions can be honored, its chairman said. The Iranian flag carrier is also talking to Boeing about providing support for its aging fleet following the deal between Tehran and six major powers to ease economic sanctions in return for curbs on Iran’s nuclear activities. Iranair agreed in January to buy 118 jets worth $27 billion at list prices from Airbus. Read more on this. The Boeing Company (BA) , with a current value of $82.69B, started the session at $127.60. Looking at today’s market, BA one day range is $127.40 to $129.85 and has traded between $102.10 and $150.59 over the past year. BA shares are currently priced at 15.00x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 25.94x earnings multiple. And for those looking to make a return holding the stock, the company pays shareholders $4.36 per share annually in dividends, yielding 3.42%. 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. The full-year EPS estimate is $8.49, which would be a $0.77 better than last year. 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. More recently, BofA/Merrill downgraded BA from Neutral to Underperform (Apr 20, 2016). Previously, Canaccord Genuity downgraded BA from Buy to Hold. The average price target for BA shares by the analysts covering the stock is $148.06, which is 16.03% above where the stock opened this morning. See more in (NYSE:BA) Similar Articles: Market Update (NYSE:BA): U.S. planemaker Boeing discusses sales in Iran Stock Update (NYSE:BA): Iran invites Boeing to talk about plane purchases: State TV Company Update: The Boeing Company (NYSE:BA) – Boeing says will forego further challenges to Northrop bomber deal
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