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Stock Update (NYSE:BA): Iran invites Boeing to talk about plane purchases: State TV

[Reuters] – Iran has invited U.S. planemaker Boeing Co (BA.N) to Tehran to discuss purchasing jetliners aimed at revamping its aging fleet hit by decades of sanctions imposed on the Islamic Republic, state TV reported on Friday. In February, Iran’s deputy transport minister Asghar Fakhrieh Kashan told Reuters the country was ready to buy at least 100 jets from Boeing. Boeing said it was assessing the steps needed to deal with Iran. Read more on this. The Boeing Company (BA) , with a current value of $80.09B, opened at $120.17. Shares have traded today between $119.85 and $120.99 per share with the price of the stock fluctuating between $102.10 to $155.99 over the last 52 weeks. Boeing (BA) shares are currently priced at 14.09x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 30.36x earnings multiple for the same period. The company pays shareholders $4.36 per share in dividend income per year, for a current yield of 3.69%. In a review of the consensus earnings estimate this quarter, 17 sell-side analysts are looking at $1.84 per share, which would be $0.13 worse than the year-ago quarter and a $0.35 sequential decrease. Investors should also note 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 $21.91 Billion. If reported, that would be a 1.08% decrease over the year-ago quarter. Recently, Canaccord Genuity downgraded BA from Buy to Hold (Mar 3, 2016). Previously, Buckingham Research upgraded BA from Underperform to Neutral. Investors should keep in mind is that the average price target is $140.17, which is 16.64% above where the stock opened this morning. See more in (NYSE:BA) Similar Articles: Stock Update (NYSE:BA): State lawmakers nix bill linking aerospace tax breaks to Boeing jobs Stock Update (NYSE:BA): Boeing expects first maritime spy plane sale in next few years Market Update: The Boeing Company (NYSE:BA) – Boeing tanker plane makes first flight
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