Military
Boeing Shares Dive but Remain DJIA's Top Performer Last Week
Published:
Last Updated:
The three other stocks closest to Boeing had more success, with Caterpillar Inc. (NYSE: CAT) adding nearly 5% to post a year-to-date gain of 48.6%, Apple Inc. (NASDAQ: AAPL) adding about 4.4% for a gain of 40.8% for the year, and Visa Inc. (NYSE: V) tacking on 2% to raise its 2017 increase to 40.6%.
Boeing reported third-quarter results last Wednesday that beat consensus estimates on both the top and bottom lines. But the company took a total charge of $329 million against its KC-46A tanker program and lowered is some of its full-year margin estimates.
Last week’s share price drop likely resulted from Boeing’s rather airy statements regarding raising production rates on the 737 from its current 47 per month to more than the 57 per-month rate the company has targeted for 2019.
Similarly, the company expects its global services business to juice sales for the year by $14.5 billion with margins of around 15.5%. The CEO has said he expects the services business to reach $50 billion in annual sales within the next several years.
Boeing stock closed at $256.46 on Friday, down about 1.1% on the day, in a 52-week range of $138.80 to $267.21. The 12-month consensus price target is $285.09, nearly $9 a share higher than last week’s target. The low price target is $203 and the high is $350.
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.