Market Update: The Boeing Company (NYSE:BA) – Iran says has reached deal to buy planes from Boeing

[Reuters] – DUBAI/PARIS, June 14 (Reuters) – Iran has reached a deal to buy jetliners from U.S. planemaker Boeing, the country’s minister of roads and urban development was quoted on Tuesday as saying. “In coming days details of the deal with this company will be announced,” Abbas Akhoundi said, according to the semi-official Mehr news agency. Boeing’s Middle East headquarters said it did not have any immediate comment. Read more on this. The Boeing Company (BA) , with a current value of $82.05B, opened this morning at $129.63. Looking at today’s market, BA one day range is $128.63 to $130.42 with a trailing 52-week range being $102.10 to $150.59. BA shares are currently priced at 15.30x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 26.79x earnings multiple. And for dividend hunters, the company pays shareholders $4.36 per share annually in dividends, yielding 3.32%. Consensus earnings for the current quarter by the 15 sell-side analysts covering the stock is an estimate of $2.14 per share, which would be $0.52 better than the year-ago quarter and a $0.02 sequential increase. What we find to be interesting is that the full-year EPS estimate of $8.49 is a $0.77 improvement when compared to the previous 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. Recently, BofA/Merrill downgraded BA from Neutral to Underperform (Apr 20, 2016). Previously, Canaccord Genuity downgraded BA from Buy to Hold. With the above information in mind, readers should note that the average price target is $148.06, which is 14.22% above where the stock opened this morning. See more in (NYSE:BA) Similar Articles: Company Update: The Boeing Company (NYSE:BA) – After Airbus, Iran edges toward historic Boeing deal Market Update (NYSE:BA): U.S. planemaker Boeing discusses sales in Iran Stock Update: The Boeing Company (NYSE:BA) – FAA orders checks on fuel valves in Boeing planes
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