Market Update (NYSE:BA): Boeing and SPEEA Announce Tentative Agreement on New Contract Extension

[PR Newswire] – SEATTLE, Jan. 13, 2016 /PRNewswire/ — Boeing [NYSE: BA] and the Society of Professional Engineering Employees in Aerospace (SPEEA) today announced a tentative agreement on a new six-year contract extension, following several weeks of discussions. SPEEA’s Executive Board and Bargaining Unit Councils have endorsed the offer, which will be put up for a vote by the membership from Jan. 27 to Feb. 10, 2016 via mail-in ballots. Under the tentative agreement, Boeing would continue to provide SPEEA-represented employees with above-market compensation for their skills. Read more on this. The Boeing Company (BA) , valued at $85.84B, began trading this morning at $132.70. Looking at today’s market, BA one day range is $127.75 to $132.88 and has traded between $115.14 and $158.83 over the past year. Priced at 16.01x this year’s forecasted earnings, BA shares are relatively expensive compared to the industry’s 2.16x forward p/e ratio. The company pays shareholders $4.36 per share annually in dividends, yielding 3.35%. According to a consensus of 17 analysts, the earnings estimate of $2.14 per share would be $0.17 worse than the year-ago quarter and a $0.15 sequential decrease. Investors should also note that the full-year EPS estimate of $8.24 is a $0.36 worse when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $23.54 Billion. If realized, that would be a 3.80% decrease over the year-ago quarter. More recently, Wells Fargo downgraded BA from Outperform to Market Perform (Dec 18, 2015). Previously, Standpoint Research downgraded BA from Buy to Hold. The average price target for BA shares by the analysts covering it is $163.72, which is 23.38% above where the stock opened. See more in (NYSE:BA) Similar Articles: Market Update (NYSE:BA): Boeing, Lockheed Martin Protest Air Force Bomber Contract Award Company Update (NYSE:BA): Boeing wins $898 million contract for 15 EA-18G fighter jets Company Update: The Boeing Company (NYSE:BA) – Lockheed-Boeing launch venture wins $882 mln U.S. contract