Boeing Co. (NYSE: BA), is an aerospace company, having a market cap of $127.91 Billion. In the most recent Q1 2023 report, released on April 26, 2023, the company reported its net income of negative $414.00 Million. Furthermore, the company reported its earnings per share (EPS) to be negative $1.27 while the estimation was negative $1.07.
On the other hand, the reported revenue was $17.92 Billion while the estimation was $17.52 Billion. Moreover, for the upcoming quarterly reports, the estimated EPS is negative $0.88, while revenue is expected to reach $17.45 Billion.
Last year, the revenue of Boeing Company reached $66.61 Billion, out of which nearly $25.87 Billion came from its highest performing source at the moment, Commercial Airplanes. Notably, the U.S. was the greatest contributor country which brought its revenue $39.22 Billion last year.
According to Yahoo Finance, the U.S.-based business news platform, over 59% shares of the aerospace company are held by institutions. Out of them, Vanguard Group, Inc., Newport Trust Co., and Blackrock Inc. are the 3-leading institutional holders.
BA Stock Price Analysis
By showing bearishness on July 6, 2023, Thursday’s trading session, BA stock closed at $212.62 with a 0.32% decline. According to Tradingview, a web-based social network for traders, the stock opened at $212.48, rose to $213.61 while the low was $209.58. Notably, the stock price traded quite above from its 20-day moving average.
As the above price shows, the price performance chart of BA stock shows a bullish graph even with negative quarterly reports. The chart also shows that the majority of bulls have shown their support that eventually took its price to trade upside. Meanwhile, due to the recent price decline, the RSI turned downside which will require bulls support to turn upside.
Furthermore, the pre-market price of BA stock showed at $212.31, which is slightly down from its last closing price. As of late this month, Boeing Co. will release its second quarter (Q2) 2023 reports, so investors may show their interest in its shares.
The analysts have set their 1-year price target at $234.91 which is up over 10% from the recent closing price of the BA stock. However, their maximum estimate is $291.00 while minimum estimate is $180.00.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/07/07/will-boeing-nyse-ba-stock-price-take-another-upside-ride/