Market Update (NYSE:BA): Eleven Boeing workers arrested in South Carolina for tax evasion

[Reuters] – Eleven Boeing Co employees have been arrested in South Carolina for allegedly attempting to evade state income taxes, and the state’s revenue department said more arrests were likely. The individuals collectively earned more than $2.2 million between 2011 and 2014, and evaded paying $99,729 in individual income taxes, the South Carolina Department of Revenue said in a statement on Tuesday. Boeing said the identified employees have been suspended. Read more on this. The Boeing Company (BA) , valued at $84.40B, started the session at $127.16. Looking at the stock, its one day range is $125.75 to $127.58 and has traded between $102.10 and $155.50 over the past 12 months. Priced at 14.94x this year’s forecasted earnings, BA shares are relatively expensive compared to the industry’s 12.91x forward p/e ratio. The company pays shareholders $4.36 per share in dividend income per year, for a current yield of 3.43%. According to a consensus of 16 analysts, the earnings estimate of $1.82 per share would be $0.15 worse than the year-ago quarter and a $0.37 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $8.50, which would be a $0.78 improvement when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $21.90 Billion. If realized, 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. The average price target for BA shares by the analysts covering the stock is $137.95, which is 8.49% above where the stock opened this morning. See more in (NYSE:BA) Similar Articles: Market Update: The Boeing Company (NYSE:BA) – Boeing Commercial Airplanes Vice President of Marketing Tinseth to Speak at Bank of America Merrill Lynch Conference on March 16 Market Update: The Boeing Company (NYSE:BA) – Alcoa wins supply agreement with Boeing Market Update: The Boeing Company (NYSE:BA) – Boeing to pay $12 mln to settle U.S. enforcement cases -FAA
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