Market Update (NYSE:BA): Latin America’s airline fleet to triple in next 20 years -Boeing

[Reuters] – Boeing Co projected on Tuesday that Latin American airlines will need 3,050 new planes worth some $350 billion over the next two decades, as economic growth accelerates in the region. Sixty percent of Latin America’s existing commercial fleet will be replaced in the next 20 years, with the overall fleet size tripling during that time, Boeing said as the FIDAE regional airshow was kicking off in Chile’s capital, Santiago. “In the long term, the economies of Latin America will grow faster than those in the rest of the world,” said Donna Hrinak, president of Boeing Latin America. Read more on this. The Boeing Company (BA) , valued at $86.56B, started trading this morning at $129.89. Shares have traded today between $128.18 and $130.75 per share with the price of the stock fluctuating between $102.10 to $155.50 over the last 52 weeks. BA shares are currently priced at 15.45x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 11.98x earnings multiple. And for income investors, the company pays shareholders $4.36 per share annually in dividends, yielding 3.30%. In a review of the consensus earnings estimate this quarter, 16 sell-side analysts are looking at $1.85 per share, which would be $0.12 worse than the year-ago quarter and a $0.34 sequential decrease. The full-year EPS estimate is $8.50 which would be a $0.78 improvement than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $21.90 Billion. If reported, 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. With the above information in mind, readers should note that the average price target is $137.95, which is 6.21% above where the stock opened this morning. See more in (NYSE:BA) Similar Articles: Company Update (NYSE:BA): Boeing, Air Europa Celebrate Delivery of the Airline’s First 787 Dreamliner Market Update (NYSE:BA): Chinese airline orders 110 Boeing jets Stock Update (NYSE:BA): Boeing expects first maritime spy plane sale in next few years
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