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MarketScreener Homepage  >  Equities  >  Nyse  >  Boeing Company (The)    BA

BOEING COMPANY (THE)

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Boeing : Missed Boeing MAX deadline sends TUI shares to two-month low

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06/03/2019 | 10:58am EDT
FILE PHOTO: A TUI fly Boeing jet takes off from Palma de Mallorca

LONDON (Reuters) - Travel company TUI's contingency measures to cope with the grounding of Boeing 737 MAX jets were triggered on Monday, sending its shares down more than 4%.

The Boeing 737 MAX has been grounded globally after two fatal crashes and has yet to submit its software fix to get the planes flying again. The U.S. aviation regulator has also said some of the planes may have other faulty parts.

Last month TUI said it needed reassurances by the end of May that the MAX fleet could resume flying by mid-July or it would have to activate summer contingency plans that would cut underlying earnings before interest, tax and amortisation (EBITA) by up to 26% this year.

The one-off impact would amount to 300 million euros ($336 million), the company had said.

"As May has passed by, TUI Group is still not aware of a definite flight resumption date for the 737 MAX," a TUI spokesman said, adding that the contingency plans had been triggered.

As June arrived without clarity on when the Boeing jets would return to service, shares in TUI slid by as much as 5.2% to a two-month low of 692p.

By 1450 GMT the shares had clawed back some of the losses to stand 4.1% down at 700p.

"This has been said before, but for some reason it is being viewed negatively," one trader said.

(Reporting by Alistair Smout; Additional reporting by Christina Amann in Berlin; Editing by David Goodman)

Stocks mentioned in the article
ChangeLast1st jan.
BOEING COMPANY (THE) 0.51% 363.675 Delayed Quote.13.28%
TUI 2.31% 8.77 Delayed Quote.-30.31%
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Financials (USD)
Sales 2019 96 617 M
EBIT 2019 10 807 M
Net income 2019 9 057 M
Debt 2019 10 373 M
Yield 2019 2,20%
P/E ratio 2019 23,3x
P/E ratio 2020 14,3x
EV / Sales2019 2,21x
EV / Sales2020 1,73x
Capitalization 203 B
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Technical analysis trends BOEING COMPANY (THE)
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 422,91  $
Last Close Price 361,61  $
Spread / Highest target 38,3%
Spread / Average Target 17,0%
Spread / Lowest Target -17,0%
EPS Revisions
Managers
NameTitle
Dennis A. Muilenburg Chairman, President & Chief Executive Officer
Jenette E. Ramos Senior Vice President-Supply Chain & Operations
Gregory D. Smith CFO, EVP-Corporate Development & Strategy
Theodore Colbert Chief Information Officer & SVP-Data Analytics
Gregory L. Hyslop CTO, Senior VP-Engineering, Test & Technology
Sector and Competitors
1st jan.Capitalization (M$)
BOEING COMPANY (THE)13.28%201 984
AIRBUS SE53.88%110 305
TEXTRON16.57%12 225
DASSAULT AVIATION-1.65%10 933
EMBRAER-11.02%3 759
AVIC ELECTROMECHANICAL SYSTEMS CO LTD--.--%3 540