Stock Update (NYSE:BA): Exclusive: Boeing nears decision to self-fund more F/A-18 fighters

[Reuters] – Boeing Co (BA.N) is nearing a decision to invest “a significant amount” to keep a F/A-18E/F fighter jet production line in St. Louis running as it waits for the U.S. government to approve a delayed order by Kuwait for 28 jets, a senior executive said. Dan Gillian, who runs Boeing’s F/A-18E/F and EA-18G electronic attack jet programs, told Reuters the company would decide in coming weeks whether to buy titanium and other materials needed to start work on the jets, even before the Kuwait deal and potential U.S. Navy orders are finalized. Delays in orders for the jets mean Boeing must decide whether to invest hundreds of millions of dollars into the F/A-18 program, even as its commercial division faces job cuts and a federal investigation into whether it properly accounted for two jetliners, the 747 and 787. Read more on this. The Boeing Company (BA) , with a current value of $72.42B, opened this morning at $105.43. Today, shares have traded between $105.00 and $109.84 per share with a trailing 52-week range being $102.10 to $158.83. BA shares are currently priced at 12.77x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry ’s 41.93x forward p/e ratio. The company pays shareholders $4.36 per share in dividend income per year, for a current yield of 3.75%. According to a consensus of 16 analysts, the earnings estimate of $1.87 per share would be $0.10 worse than the year-ago quarter and a $0.32 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $8.49 would be a $0.77 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $21.88 Billion. If reported, that would be a 1.22% decrease over the year-ago quarter. Recently, JP Morgan downgraded BA from Overweight to Neutral (Feb 12, 2016). Previously, Standpoint Research upgraded BA from Hold to Buy. Investors should keep in mind is that the average price target is $147.17, which is 39.59% above where the stock opened this morning. See more in (NYSE:BA) Similar Articles: Stock Update: The Boeing Company (NYSE:BA) – Boeing Business Jets Announces Four New BBJ MAX 8 Orders Company Update (NYSE:BA): Boeing nears decision on protest of U.S. bomber award to Northrop Stock Update (NYSE:BA): Exclusive: Boeing eyes ‘several hundred’ layoffs in satellite division
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