Market Update: The Boeing Company (NYSE:BA) – SpaceX breaks Boeing-Lockheed monopoly on military space launches

[Reuters] – The U.S. Air Force on Wednesday awarded billionaire Elon Musk’s SpaceX an $83 million contract to launch a GPS satellite, breaking the monopoly that Lockheed Martin Corp and Boeing Co have had on military space launches for more than a decade. The Global Positioning System satellite will be launched in May 2018, Air Force officials said. Read more on this. The Boeing Company (BA) , valued at $90.82B, started the session at $133.20. Looking at today’s trading action, the company’s one day range from $131.95 to $137.89 with a one year range of $102.10 to $150.59. BA shares are currently priced at 15.71x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 22.21x earnings multiple for the same period. And for passive income investors, the company pays shareholders $4.36 per share annually in dividends, yielding 3.33%. According to a consensus of 15 analysts, the earnings estimate of $1.83 per share would be $0.14 worse than the year-ago quarter and a $0.09 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $8.48 is a $0.76 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 $21.44 Billion. If realized, that would be a 3.21% decrease over the year-ago quarter. In terms of ratings, BofA/Merrill downgraded BA from Neutral to Underperform (Apr 20, 2016). Previously, Canaccord Genuity downgraded BA from Buy to Hold. When considering if perhaps the stock is under or overvalued, the average price target is $138.47, which is 3.96% above where the stock opened this morning. See more in (NYSE:BA) Similar Articles: Stock Update (NYSE:BA): State lawmakers nix bill linking aerospace tax breaks to Boeing jobs Company Update: The Boeing Company (NYSE:BA) – Lockheed-Boeing venture orders 20 more Russian rocket engines Market Update (NYSE:BA): Boeing, Lockheed Martin Protest Air Force Bomber Contract Award
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