Stock Update (NYSE:BA): New Boeing defense CEO focuses on basics, growth areas

[Reuters] – Boeing Co’s (BA.N) defense chief, Leanne Caret, says the No. 2 U.S. arms maker must focus on improving program performance and listening better to customers after setbacks on the $49 billion KC-46A tanker and its loss of a big U.S. bomber deal. A 28-year veteran of Boeing and second-generation Boeing employee, Caret shocked many when she mapped out six key priorities for the $30 billion weapons and space company that span the breadth of the company’s portfolio but do not include production of new fighter jets. Caret, who took over as head of Boeing Defense Space & Security four months ago, says it’s important to be realistic and focus on the company’s strengths and possible growth areas as its F-15 and F/A-18E/F fighter jet programs wind down. Read more on this. The Boeing Company (BA) , with a current market cap of $83.41B, opened at $132.80. Looking at the stock, its one day range is $130.33 to $133.00 with a one year range of $102.10 to $150.59. BA shares are currently priced at 15.55x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 21.99x forward p/e ratio. And for dividend hunters, the company pays shareholders $4.36 per share annually in dividends, yielding 3.35%. Consensus earnings for the current quarter by the 16 sell-side analysts covering the stock is an estimate of $2.22 per share, which would be $0.60 better than the year-ago quarter and a $0.10 sequential increase. In looking at the bigger picture, the full-year EPS estimate of $8.49 would be a $0.77 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $23.70 Billion. If realized, that would be a 3.42% decrease over the year-ago quarter. Recently, Morgan Stanley Initiated BA at Overweight (Jun 23, 2016). Previously, BofA/Merrill downgraded BA from Neutral to Underperform. When considering if the stock is under or overvalued, the average price target is $145.47, which is 9.54% above where the stock opened this morning. See more in (NYSE:BA) Similar Articles: Stock Update (NYSE:BA): Boeing wins $668 million defense contract -Pentagon Stock Update (NYSE:BA): Boeing wins $3.2 billion U.S. defense contract -Pentagon Market Update (NYSE:BA): Boeing Defense, Space & Security CEO Caret to Speak at Deutsche Bank Global Industrials and Materials Summit June 8
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