US earnings: The Boeing Co. Q1 results preview with broker ratings and price targets

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The Boeing Co. is expected to see a sharp rise in first quarter revenue and earnings, although will likely remain in loss making territory.

Source: Bloomberg

 

Indices Shares Price Revenue Stock Share price

 Shaun Murison | Senior Market Analyst, Johannesburg | Publication date: Wednesday 19 April 2023 

When is the Boeing Co. (BA) earnings date?

Boeing Co., the NYSE listed aerospace and defense company’s earnings release date is scheduled for the 26th of April 2023. The scheduled results will cover the groups first quarter of the 2023 fiscal year (Q1 2023).

Boeing Co. results preview: What does the street expect?

In terms of the upcoming results, a mean of analyst estimates compiled by Refinitiv data arrive at the following:

• Revenue $17.567bn (+25.56% year on year)
• Earnings per share (EPS) -$1.04 (+62.14% year on year)

An improving ‘post’ COVID-19 commercial aerospace industry and outlook is expected to equate to a vast improvement in the Boeing Co.’s Q1 2023 results, relative to the prior year’s comparative period. A recent update from the company showed that jet deliveries for the first quarter of the year were roughly 37% more than in Q1 2022. The increased sales are expected to bolster revenue by more than a quarter and move earnings significantly closer towards profitability.

 

How to trade the Boeing Co. results

Source: IG

A Refinitiv poll of 26 analyst ratings arrive at a long-term consensus rating of ‘buy’ for the Boeing Co. (as of the 19th of April 2023).
A consensus of analyst long-term price targets for the Boeing Co. arrives at a median price of $231.86.

The Boeing Co. share price: technical analysis

Source: IG

The share price of Boeing looks to have reversed its long term down trend into a new uptrend. In the short term however, the price trades within a range between levels 196.20 (support) and 219.30 (resistance).

Trend followers might prefer keeping a long bias to trades on the company in lieu of the longer-term uptrend now considered. Range traders might look to find entry on a bullish price reversal closer to the 196.20 support level, while breakout traders might prefer to wait for a close above range resistance at 219.30 before looking for long entry into the stock.

In summary

• The Boeing Co. is scheduled to release Q1 2023 results on the 26th of April 2023
• The company is expected to see a sharp improvement in its loss per share relative to the prior year’s comparative period
• The average broker consensus rating for the stock is a ‘buy’
• The long-term price trend for Boeing appears to have reversed from down to up
• The share price trades within a range over the short term