Earnings won’t move the needle when Boeing discloses its first-quarter results on Wednesday. Investors want to know more about the 737 MAX jet and its prospects for taking to the skies again.
Aviation authorities all over the world grounded the new single-aisle jet in mid-March after the second crash involving the airplane in five months. Still, Boeing (BA) stock has held up surprisingly well, with a year-to-date gain of 17%. That is better than the 14% gain in the Dow Jones Industrial Average.
The stock trades at 22 times Boeing’s estimated 2019 earnings, in line with its historical average.Analysts polled by Bloomberg are expecting Boeing to report earnings of $3.25 per share compare to last year $3.64 on $22.90 billion per revenue.