Boeing Company (BA) said on Wednesday that it projects a significant increase in its full-year 2018 earnings as well as in its full-year jet deliveries. The company also reported quarterly core earnings almost two times higher compared to a year ago.
Boeing shares closed higher for the third time in the past five trading sessions on Wednesday. It has also been the sharpest daily surge since July 26th 2017. The stock went up 4.93% ($16.66) to $354.37, after touching an intraday high at $360.81 and also a fresh all-time high.
In the week ended on January 28th the shares of the aircraft maker added 1.63% to their market value compared to a week ago, which marked a fourth consecutive period of gains.
The stock soared 20.16% in January, which marked a fifth straight month of gains. It has also been the best monthly performance since July 2017.
For the entire past year, the shares of the NYSE-listed plane manufacturer rose 89.43% following another 7.67% surge in 2016.
Revenue at Boeing’s commercial planes division went up 8% year-on-year to $15.47 billion during the fourth quarter ended on December 31st, while the units operating profit soared 50% to $1.78 billion.
At the same time, revenue at Boeings defense unit increased 5% year-on-year to $5.54 billion during the past quarter, while the units operating profit grew 6% to reach $553 million.
Meanwhile, revenue in Boeing’s new services business surged 17% year-on-year to $4 billion during the latest quarter, while operating profit at the division grew 9% to $617 million.
The jet makers core earnings per share were reported to have increased to $4.80 during the quarter ended on December 31st from $2.47 during the same period a year ago due to an increase in jet deliveries as well as due to a one-time tax gain resulting from the US tax code reform.
Boeings adjusted earnings, which exclude the tax gain, were reported at $3.06 per share during the past quarter, thus, exceeding the median analyst estimate ($2.89 per share).
After delivering the record 763 jets during the past year, the company now expects a further boost in shipments to 810-815 commercial jets in 2018. Last year, Airbus, Boeings European rival, fell behind with a total of 718 jets delivered.
Because of rising demand for air travel and airlines need for new and fuel-efficient aircraft, Boeing now expects its full-year 2018 core earnings to increase to $13.80-$14.00 per share. That compares with a median analyst estimate pointing to full-year earnings of $11.96 per share.
According to CNN Money, the 22 analysts, offering 12-month forecasts regarding Boeing Company’s stock price, have a median target of $339.50, with a high estimate of $435.00 and a low estimate of $203.00. The median estimate is a 4.20% decrease compared to the closing price of $354.37 on January 31st.
The same media also reported that 12 out of 25 surveyed investment analysts had rated Boeing Company’s stock as “Hold”, while 11 – as “Buy”.
Daily and Weekly Pivot Levels
With the help of the Camarilla calculation method, todays levels of importance for the Boeing stock are presented as follows:
R1 – $355.21
R2 – $356.05
R3 (Range Resistance – Sell) – $356.89
R4 (Long Breakout) – $359.42
R5 (Breakout Target 1) – $362.37
R6 (Breakout Target 2) – $363.62
S1 – $353.53
S2 – $352.69
S3 (Range Support – Buy) – $351.85
S4 (Short Breakout) – $349.32
S5 (Breakout Target 1) – $346.37
S6 (Breakout Target 2) – $345.12
By using the traditional method of calculation, the weekly levels of importance for Boeing Company (BA) are presented as follows:
Central Pivot Point – $340.41
R1 – $348.79
R2 – $354.35
R3 – $362.73
R4 – $371.10
S1 – $334.85
S2 – $326.47
S3 – $320.91
S4 – $315.34
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