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Market Update: The Boeing Company (NYSE:BA) – Canadian firms could see civil work from fighter purchase: Boeing

[Reuters] – Planemaker Boeing Co (BA.N) could include civil aviation work opportunities for Canadian firms if the country were to purchase F/A-18E/F Super Hornets to replace its aging fighter jets, company executives said on Thursday. The new Liberal government promised during last year’s election that it would launch an open competition to replace Canada’s CF-18 fighter aircraft and pledged not to buy Lockheed Martin Corp’s (LMT.N) F-35 jets as the previous Conservative government had planned to do. Read more on this. The Boeing Company (BA) , valued at $85.07B, started the session at $133.91. Looking at today’s market, BA one day range is $132.73 to $134.55 and has traded between $102.10 and $150.59 over the past year. BA shares are currently priced at 15.52x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 26.10x earnings multiple for the same period. And for those looking to make a return holding the stock, the company pays shareholders $4.36 per share annually in dividends, yielding 3.28%. In a review of the consensus earnings estimate this quarter, 16 sell-side analysts are looking at $2.15 per share, which would be $0.53 better than the year-ago quarter and a $0.03 sequential increase. Furthermore, our analysis shows the full-year EPS estimate to be $8.49, which would be a $0.77 better when compared to the last year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $23.22 Billion. If reported, that would be a 5.38% decrease over the year-ago quarter. In terms of ratings, Morgan Stanley Initiated BA at Overweight (Jun 23, 2016). Previously, BofA/Merrill downgraded BA from Neutral to Underperform. With the above information in mind, readers should note that the average price target is $148.33, which is 10.77% above where the stock opened this morning. See more in (NYSE:BA) Similar Articles: Market Update (NYSE:LMT): Canadian firms could see civil work from fighter purchase: Boeing Stock Update: The Boeing Company (NYSE:BA) – U.S. poised to approve Boeing fighter jet sales to Qatar, Kuwait Market Update: The Boeing Company (NYSE:BA) – Alcoa wins supply agreement with Boeing
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