Boeing Boosts Forecast as Q3 Earnings Rise Above Estimates (BA)

Aircraft maker The Boeing Company (BA) on Wednesday posted better-than-expected third quarter earnings and lifted its full-year outlook, sending its shares higher in premarket trading.

The Chicago-based company reported third quarter earnings of $1.03 billion, or $1.35 per share, compared with $1.10 billion, or $1.46 per share, in the year-ago period.

Revenue surged 13% from last year to $20.01 billion.

On average, Wall Street analysts expected a much smaller profit of $1.12 per share, albeit on slightly higher revenue of $20.03 billion.

Looking ahead, BA said it now expects full-year earnings to range from $4.80 to $4.85 per share, which would easily beat analysts’ view of $4.73 per share for the year.

Boeing shares rose $1.88, or +2.6%, in premarket trading Wednesday.

The Bottom Line
Shares of Being (BA) have a 2.42% dividend yield, based on last night’s closing stock price of $72.82. The stock has technical support in the $66-$68 price area. If the shares can firm up, we see overhead resistance around the $74-$76 price levels.

The Boeing Company (BA) is not recommended at this time, holding a DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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