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Company Update: The Boeing Company (NYSE:BA) – Boeing says will forego further challenges to Northrop bomber deal

[Reuters] – Boeing Co on Friday said it would forego any further challenges to an estimated $80 billion U.S. Air Force bomber contract awarded to Northrop Grumman Corp last year. The decision came after the U.S. Government Accountability Office last week rejected a formal protest filed by Boeing and its key supplier, Lockheed Martin Corp. “While we remain firmly convinced of the validity of the issues raised in our protest to the Government Accountability Office of the Long Range Strike-Bomber contract award to Northrop Grumman, the Boeing-Lockheed Martin team has decided not to pursue further challenges to that award, either through the GAO or in federal court,” the company said in a statement. Read more on this. The Boeing Company (BA) , valued at $78.28B, opened this morning at $117.75. Looking at the stock , its one day range is $117.60 to $119.45 with its 52-week range being $102.10 to $156.91. BA shares are currently priced at 13.61x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry ’s 40.95x forward p/e ratio. The company pays shareholders $4.36 per share annually in dividends, yielding 3.71%. Consensus earnings for the current quarter by the 17 sell-side analysts covering the stock is an estimate of $1.84 per share, which would be $0.13 worse than the year-ago quarter and a $0.33 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 based on a consensus revenue forecast of the current quarter of $21.91 Billion. If realized, that would be a 1.08% decrease over the year-ago quarter. More recently, Buckingham Research upgraded BA from Underperform to Neutral (Feb 18, 2016). Previously, JP Morgan downgraded BA from Overweight to Neutral. The average price target for BA shares by the analysts covering the stock is $141.00, which is 19.75% above where the stock opened this morning. See more in (NYSE:BA) Similar Articles: Company Update (NYSE:BA): Boeing to skip legal challenge to Northrop bomber deal-source Market Update (NYSE:BA): U.S. agency rejects Boeing protest of Northrop bomber contract Company Update (NYSE:BA): Boeing nears decision on protest of U.S. bomber award to Northrop
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