We know that aerospace company Boeing (BA) has had a rough run of things this quarter, and with its earnings report poised to come out soon, there’s already quite a bit of anxiety about what will hit when it arrives. Perhaps out of a note of anticipatory dread, Boeing shares are down modestly in Monday afternoon’s trading. Current estimates suggest that Boeing will turn in a loss of $1.69 per share, which is a little more than double the loss seen this time last year when it came in at -$0.82 per share, according to TipRanks data.
Meanwhile, revenues are projected to come in at around $17.49 billion, also down against this time last year by around 11.4%.
Worse, analysts have been routinely modifying projections for the last few weeks now. Reports noted that the consensus earnings per share figure is down 44% against what it was just 30 days ago, and that’s a sign of significant concern.
More Trouble Ahead?
We may be looking at the calm before the storm at Boeing, and significant turbulence may be about to hit. With Boeing still laboring under a federally-mandated production cap, it’s remarkably vulnerable to outside competition right now. If anyone else shows up that can put together a large jet, in any kind of decent quantity, Boeing may have the fight of its life on its hands.
Is Boeing Stock a Buy, Sell, or Hold?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on BA stock based on 16 Buys, five Holds, and one Sell assigned in the past three months, as indicated by the graphic below. After a 22.32% loss in its share price over the past year, the average BA price target of $215.84 per share implies 16.53% upside potential.
