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Arlington, Virginia-based The Boeing Company (BA) is a major U.S. defense contractor and premier jet aircraft manufacturer. Its clients include domestic and foreign airlines, the U.S. Department of Defense, the Department of Homeland Security, NASA, other aerospace contractors, and various U.S. government and commercial communications customers. Its market cap currently stands at $105.6 billion. BA is scheduled to release its fiscal 2024 Q4 earnings results before the market opens on Wednesday, Jan. 29.
Ahead of the event, analysts expect Boeing’s loss to expand by 378.7% year over year to $2.25 per share. The company has surpassed Wall Street’s EPS estimates in two of the previous four quarters while missing on two other occasions.
For fiscal 2024, analysts expect Boeing's loss to rise 182.4% year over year to $16.41 per share from $5.81 per share in fiscal 2023.
BA stock has plunged 31.4% over the past 52 weeks, substantially underperforming the S&P 500 Index’s ($SPX) 27.2% returns and the Industrial Select Sector SPDR Fund’s (XLI) 18.9% gains during the same time frame.
On Dec. 30, Boeing shares plunged over 2% following a tragic incident involving a 737-800 aircraft. The plane, which was operated by a South Korean airline, crashed at Muan International Airport, resulting in a negative impact on the company's stock performance. The crash raised concerns regarding the safety of Boeing’s 737 series, which had already been under scrutiny after previous incidents involving its 737 MAX model.
The stock holds a “Moderate Buy” consensus from 25 analysts, with 15 pushing for a “Strong Buy,” one recommending a “Moderate Buy,” eight suggesting a “Hold,” and one “Strong Sell.”
The mean price target of $189.21 suggests an upside potential of 10.8% from the current price levels.
