Boeing shares (NYSE:BA) are expected to rally further in the coming trading sessions by a majority of the markets. This was after the company posted a mostly positive earnings report during the past couple of quarters as well as an outlook to boost its overall production this year.
Earnings And Growing Production
During the earnings call of the American airplane manufacturer late last month, the company announced its forecast of delivering around 810 to 815 commercial aircraft this 2018 as it continues to boost its production in able to meet with the growing market demand.
Boeing’s earnings have also surged for the most part last year. Shares of the company rallied by 6% last month when its earnings report beat most analysts forecasts. For the fourth quarter, Boeing had earnings of $5.18 per share which is twice as much as consensus analysts estimates of $2.59 per share.
The net income of the company also beat expectations when Boeing posted an overall net income of $3.13 billion from estimates of $1.63 billion from the same quarter a year ago.
Currently, Boeing has a total order backlog of 5,864 for their commercial aircraft which is 912 more until most recently. Aside from its upcoming production of the highly anticipated 777X flight test plane, Boeing is also expected to deliver its very first 787-10 in a month after it received an approval as well as production certificate for the said airplane last week.
The 330-seater airliner is one of the largest 787 variants manufactured in South Carolina where Boeing’s widebody is being assembled and produced along with the 787-9 and the 787-8.
Boeing Shares
After shares of Boeing rallied to an all-time high last month on mostly solid earnings as well as a positive guidance for the year, analysts are still expecting the stock of the airplane manufacturer to rally.
While the stock traded slightly lower during the trading session last Friday, Boeing shares remain to be one of the top performers on the Dow Jones Industrial Average with its earnings $3 billion more from the same period last year.
The stock of the company has grown twice as much since December 2016 when U.S. President Donald Trump announced that the Air Force One orders should be canceled due to the extremely high costs of the project. Boeing shares which are trading around $353.35 per share at the moment have been given a price target of as much as $400 per share. Aside from the factors already mentioned, Boeing also has been receiving a growing market interest in its defense and space division on top of its booming commercial aircraft business.