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Stock Update: The Boeing Company (NYSE:BA) – Iran hopes Boeing deal speeds up Airbus contract

[Reuters] – Iran’s Foreign Minister Mohammad Javad Zarif said on Wednesday he hoped that Tehran’s deal with U.S. planemaker Boeing would pave the way for finalising another contract with its European rival Airbus. Boeing said on Tuesday it has signed an agreement to sell jetliners to IranAir. The agreement helps the U.S. aerospace and defence company catch up with a $27 billion, 118-plane order Iran placed with Airbus in January. Read more on this. The Boeing Company (BA) , with a current value of $83.93B, opened this morning at $132.10. During the trading session, BA traded between $131.75 to $133.09 with its 52-week range being $102.10 to $150.59. BA shares are currently priced at 15.49x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 26.10x 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 3.36%. 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 better 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. The average price target for BA shares by the analysts covering it is $148.06, which is 12.08% above where the stock opened. See more in (NYSE:BA) Similar Articles: Market Update: The Boeing Company (NYSE:BA) – Iran says has reached deal to buy planes from Boeing Company Update: The Boeing Company (NYSE:BA) – After Airbus, Iran edges toward historic Boeing deal Market Update: The Boeing Company (NYSE:BA) – Boeing wins contract to build new Air Force One presidential jets
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