Boeing Company (BA Stock): Price Soars After Reporting Earnings

• The BA stock price is currently trading at $238.69 while observing a gain of 2.11% during the intraday session.
• The year-to-date return on the Boeing stock price is 23.71% and the three-month return is 19.71%.
• Boeing seeks to increase its production of 737 and 787 aircraft as the demand forecast rises.

Boeing Company is an American multinational corporation and a leading global aerospace company. It is widely known for its commercial aviation class series consisting of the Boeing 737, 767, 777, and 787. The corporation is also known for its space systems worldwide and for its deadly defensive class aircraft like the Boeing CH-47 Chinook, T-7A Red Hawk, and F/A – 18E Super Hornet.

The Boeing stock price has shown a sudden spike in the price-action that helped it achieve an annual high of $240.13 in the previous 24 hours. This bullish momentum has been observed all the way from $211 to $240. 

This upsurge has been witnessed due to Boeing Company releasing its second-quarter earnings on July 26. For the reported 2nd quarter, the consensus had an estimated revenue of $18.592 Billion, which was surpassed by the company’s reported revenue of $19.751 Billion. 

The estimated earnings per share analyst forecast is reported as -0.902 which is far better than the current release of earnings per share reported -0.82 for the 2nd quarter of 2023.    

Boeing Roadmap for the Future

The 737 program is transitioning production plans to reach 50 per month in the 2025/2026 timeframe, and as for now, production is limited to 38 per month. Boeing has also increased the 787 production output to 4 per month. 

Boeing’s Turtle Race in Defense and Space.

Some of the Boeing programs are facing losses despite overall growth. 

The Commercial Crew program which will provide space travel to the ISS, recorded a $257 million loss primarily due to the impacts of the previously announced launch delay. The T-7A Red Hawk program recorded a $189 million loss primarily due to higher estimated costs on production contracts. Furthermore, the MQ-25 program also recorded a $68 million loss primarily due to schedule delays on the Engineering and Manufacturing Development contract.

Boeing Company Technical Analysis

The Relative Strength Index (RSI) trades at 74.46, indicating significant bullish dominance in the market, as the BA stock price and RSI reached the annual high.

The Chaikin Money Flow score is 0.18, and it moves with upward momentum. The rise in the participation of buyers in the market has continued in the past 24 hours. 

The Boeing stock price is currently trading above the 20, 50, 100, and 200-day EMA, indicating strength in the market. However, BA stock price has witnessed downward momentum in the previous week. 

The current market capitalization of Boeing Company stock price is $143.978 Billion with an average volume of 7.95 Million shares. 

Conclusion

The Boeing Company product’s high demand in the market, along with promising future programs and a positive earning & revenue report, offers considerable leverage to BA stock price. As a result, investors should consider looking for buying opportunities in the long run. 

Technical Level

Major support: $202.55 and $193.27

Major resistance: $240.13 and $223.91 

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.