The trading price of The Boeing Company (NYSE:BA) closed lower on Tuesday, May 23, closing at $202.60, -1.61% lower than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $202.445 and $207.4891. In examining the 52-week price action we see that the stock hit a 52-week high of $221.33 and a 52-week low of $113.02. Over the past month, the stock has lost -1.54% in value.
Unlock the Hottest Top 10 Penny Stocks Today! Discover Now
Dive into the world of lucrative penny stocks with MarketClub's groundbreaking "Smart Scan" technology! Get an instant snapshot of the top 50 high volume stocks with a clear direction and outstanding liquidity - in other words, the strongest trending. To unlock this exclusive list, simply provide your first name, last name, and email for instant access.
Gain Access to Top 10 Penny Stocks Now!.
The Boeing Company, whose market valuation is $122.92 billion at the time of this writing, is expected to release its quarterly earnings report Jul 25, 2023 – Jul 31, 2023. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$0.86 per share this quarter, however they have predicted annual earnings per share of -$1.34 for 2023 and $5.34 for 2024. It means analysts are expecting annual earnings per share growth of 87.90% this year and 498.50% next year.
Analysts have forecast the company to bring in revenue of $17.43 billion for the current quarter, with the likely lows of $16.24 billion and highs of $18.82 billion. The average estimate suggests sales will likely up by 4.50% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2023 is $78.05 billion. The company’s revenue is forecast to grow by 17.20% over what it did in 2023.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of The Boeing Company No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest BA has a 50% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a Hold, while an average of long term indicators suggests that the stock is currently 50% Buy.
A quick review shows that BA’s price is currently -0.03% off the SMA20 and -1.13% off the SMA50. The RSI metric on the 14-day chart is currently showing 47.65, and weekly volatility stands at 2.15%. When measured over the past 30 days, the indicator reaches 2.35%. The Boeing Company (NYSE:BA)’s beta value is currently sitting at 1.42, while the Average True Range indicator is currently displaying 4.88. With analysts defining $180.00-$291.00 as the low and high price targets, we arrive at a consensus price target of $237.05 for the trailing 12-month period. The current price is about 11.15% off the estimated low and -43.63% off the forecast high, based on this estimate. Investors will be thrilled if BA’s share price rises to $240.00, which is the median consensus price. At that level, BA’s share price would be -18.46% below current price.
To see how The Boeing Company stock has been performing in comparison to its peers in the industry, here are the numbers: BA stock’s performance was -1.61% in the latest trading, and 67.85% in the past year, while Raytheon Technologies Corporation (RTX) has traded -1.65% on the day and positioned 4.44% higher than it was a year ago. Furthermore, TransDigm Group Incorporated (TDG) showed a decrease of -3.05% on the day while its price kept inclining at 46.39% over the past year. Also in last trading session, the S&P 500 Index has plunged -1.12%, while the Dow Jones Industrial also saw a negative session, down -0.69% on the day.
An evaluation of the daily trading volume of The Boeing Company (NYSE:BA) indicates that the 3-month average is 5.52 million. However, this figure has increased over the past 10 days to an average of 3.83 million.
Currently, records show that 602.50 million of the company’s shares remain outstanding. The insiders hold 0.10% of outstanding shares, whereas institutions hold 58.20%. The stats also highlight that short interest as of Apr 27, 2023, stood at 7.75 million shares, resulting in a short ratio of 1.36 at that time. From this, we can conclude that short interest is 1.29% of the company’s total outstanding shares. It is noteworthy that short shares in April were down slightly from the previous month’s figure, which was 8.2 million. However, since the stock’s price has seen 6.36% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.