We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Boeing Wins $14.3M FMS Contract to Supply Chinook Parts
Read MoreHide Full Article
The Boeing Company (BA - Free Report) announced that it has received a Foreign Military Sales (FMS) contract worth nearly $14.3 million to supply new parts of CH-47F Chinook helicopters to Netherlands and Turkey. The new parts will increase the operational life and efficiency of the Chinook helicopters.
The majority of the work will be done in the company’s facility in Ridley Park, PA. The deal is estimated to be completed by Dec 31, 2020.
Earlier in May 2017, Boeing received a $541.1 million FMS contract from Netherlands to build 15 CH-47F cargo helicopters. Chinook helicopters are utilized by the Netherlands government for both defense and humanitarian purposes.
Foreign Military Sales
The FMS contracts supported the large U.S. based defense companies when there was a marginal drop in domestic orders. In Nov 2016, the Defense Security Cooperation Agency (DSCA) announced FMS of $33.6 billion for fiscal 2016.
In May 2017, President Trump signed a $110 billion defense package with Saudi Arabia, which will span over seven decades. The deal surpassed the $38 billion U.S.-Israel defense pact that was inked in Sep 2016 for a total of 10 years.
Thanks to a wide range of product offerings, Boeing and other U.S. defense operators continue to receive defense contracts from the allied nations.
In a recent development, the U.S. has agreed to sell its Patriot missile defense system to Poland, which will benefit manufacturer Raytheon Company . The potential value of the deal could reach around $8 billion.
Price Movement
Shares of Boeing have gained 58.7% over the last 12 months, outperforming the Zacks categorized Aerospace–Defense industry’s gain of 28.4%.
Boeing’s strong balance sheet and cash flows provide financial flexibility while a strong backlog of defense and commercial products provides visibility of its earnings.
Curtiss-Wright Corporation delivered average positive earnings surprise of 5.11% in the last four quarters. Its 2017 earnings estimates moved up 1.36% to $4.48 over the last 90 days.
Heico Corporation delivered average positive earnings surprise of 5.76% in the last four quarters. Its fiscal 2017 earnings estimates moved up 1.47% to $2.07 over the last 90 days.
Today’s Stocks from Zacks’ Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively. And this outperformance has not just been a recent phenomenon.
Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation. See Them Free>>
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Boeing Wins $14.3M FMS Contract to Supply Chinook Parts
The Boeing Company (BA - Free Report) announced that it has received a Foreign Military Sales (FMS) contract worth nearly $14.3 million to supply new parts of CH-47F Chinook helicopters to Netherlands and Turkey. The new parts will increase the operational life and efficiency of the Chinook helicopters.
The majority of the work will be done in the company’s facility in Ridley Park, PA. The deal is estimated to be completed by Dec 31, 2020.
Earlier in May 2017, Boeing received a $541.1 million FMS contract from Netherlands to build 15 CH-47F cargo helicopters. Chinook helicopters are utilized by the Netherlands government for both defense and humanitarian purposes.
Foreign Military Sales
The FMS contracts supported the large U.S. based defense companies when there was a marginal drop in domestic orders. In Nov 2016, the Defense Security Cooperation Agency (DSCA) announced FMS of $33.6 billion for fiscal 2016.
In May 2017, President Trump signed a $110 billion defense package with Saudi Arabia, which will span over seven decades. The deal surpassed the $38 billion U.S.-Israel defense pact that was inked in Sep 2016 for a total of 10 years.
Thanks to a wide range of product offerings, Boeing and other U.S. defense operators continue to receive defense contracts from the allied nations.
In a recent development, the U.S. has agreed to sell its Patriot missile defense system to Poland, which will benefit manufacturer Raytheon Company . The potential value of the deal could reach around $8 billion.
Price Movement
Shares of Boeing have gained 58.7% over the last 12 months, outperforming the Zacks categorized Aerospace–Defense industry’s gain of 28.4%.
Boeing’s strong balance sheet and cash flows provide financial flexibility while a strong backlog of defense and commercial products provides visibility of its earnings.
Zacks Rank and Stocks to Consider
Boeing currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the same space are Curtiss-Wright Corporation (CW - Free Report) and Heico Corporation (HEI - Free Report) . Both carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Curtiss-Wright Corporation delivered average positive earnings surprise of 5.11% in the last four quarters. Its 2017 earnings estimates moved up 1.36% to $4.48 over the last 90 days.
Heico Corporation delivered average positive earnings surprise of 5.76% in the last four quarters. Its fiscal 2017 earnings estimates moved up 1.47% to $2.07 over the last 90 days.
Today’s Stocks from Zacks’ Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively. And this outperformance has not just been a recent phenomenon.
Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation. See Them Free>>