Market Update (NYSE:BA): U.S. planemaker Boeing discusses sales in Iran

[Reuters] – A delegation from U.S. planemaker Boeing (BA.N) has visited Iran to discuss sales of jetliners and the terms of a possible contract, the secretary of Iran’s Aviation Companies Association was quoted as saying by the state news agency IRNA on Monday. “A representative from Boeing held discussions with the airline of the Islamic Republic and other Iranian airlines for two days,” Maghsoud Asadi Samani said. The United States gave Boeing a license in February to hold talks with airlines in Iran, but said it would need additional U.S. approval to make sales as Iran remains subject to a number of U.S. restrictions. Read more on this. The Boeing Company (BA) , with a current value of $84.74B, began trading this morning at $128.25. Today’s price range has been between $127.68 and $129.90 per share and has traded between $102.10 and $155.50 over the past year. BA shares are currently priced at 15.06x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 4.94x forward p/e ratio. And for those looking to make a return holding the stock, the company pays shareholders $4.36 per share annually in dividends, yielding 3.41%. According to a consensus of 16 analysts, the earnings estimate of $1.84 per share would be $0.13 worse than the year-ago quarter and a $0.35 sequential decrease. Investors should also note that the full-year EPS estimate of $8.49 is a $0.77 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $21.73 Billion. If reported, that would be a 1.90% decrease over the year-ago quarter. Recently, Canaccord Genuity downgraded BA from Buy to Hold (Mar 3, 2016). Previously, Buckingham Research upgraded BA from Underperform to Neutral. The average price target for BA shares by the analysts covering it is $137.95, which is 7.56% above where the stock opened. See more in (NYSE:BA) Similar Articles: Stock Update (NYSE:BA): Iran invites Boeing to talk about plane purchases: State TV Market Update: The Boeing Company (NYSE:BA) – Alcoa wins supply agreement with Boeing Market Update: The Boeing Company (NYSE:BA) – Boeing to pay $12 mln to settle U.S. enforcement cases -FAA