[Seeking Alpha] – Good day everyone and welcome to the Boeing Company’s First Quarter 2014 Earnings Conference Call. At this time, for opening remarks and introductions, I am turning the call over to Mr. Troy Lahr, Vice President of Investor Relations for the Boeing Company. I am Troy Lahr and with me today are Jim McNerney, Boeing’s Chairman and Chief Executive Officer and Greg Smith, Boeing’s Chief Financial Officer.
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The Boeing Company (BA), valued at $97.11B, started the session at $130.75.
Looking at today’s trading action, the company’s one day range from $129.33 to $131.50 with a one year range of $90.07 to $144.57.
Priced at 17.32x this year’s forecasted earnings, BA shares are relatively inexpensive compared to the industry’s 20.78x forward p/e ratio.
The company pays shareholders $2.92 per share annually in dividends, yielding 2.30%.
According to a consensus of 20 analysts, the earnings estimate of $1.56 per share would be $0.17 worse than the year-ago quarter and a $0.22 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $7.38 is a $0.31 better when compared to the previous year’s annual results.
The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $20.19 Billion. If realized, that would be a 6.88% increase over the year-ago quarter.
Recently, Oppenheimer downgraded BA from Outperform to Perform (Nov 20, 2013). Previously, BB&T Capital Mkts upgraded BA from Hold to Buy.
When considering if perhaps the stock is under or overvalued, the average price target is $151.88, which is 16.16% above where the stock opened this morning.
Summary (NYSE:BA) : The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services worldwide. The company operates in five segments: Commercial Airplanes, Boeing Military Aircraft, Network & Space Systems, Global Services & Support, and Boeing Capital. The Commercial Airplanes segment develops, produces, and markets commercial jet aircraft for various passenger and cargo requirements, as well as provides related support services to the commercial airline industry. This segment also provides aviation services support, aircraft modifications, spares, training, maintenance documents, and technical advice to commercial and government customers. The Boeing Military Aircraft segment is involved in the research, development, production, and modification of manned and unmanned military aircraft and weapons systems for the global strike and vertical lift, mobility, surveillance, and engagement. The Network & Space Systems segment is engaged in the research, development, production, and modification of electronics and information solutions; strategic missile and defense systems; space and intelligence systems; and space exploration products. The Global Services and Support segment offers a range of products and services comprising integrated logistics, including supply chain management and engineering support; maintenance, modification, and upgrades for aircraft; and training systems and government services, such as pilot and maintenance training. The Boeing Capital segment facilitates, arranges, structures, and provides financing solutions, such as equipment under operating leases, finance leases, notes and other receivables, assets held for sale or re-lease, and investments for its commercial airplanes customers. The Boeing Company was founded in 1916 and is based in Chicago, Illinois.
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