The Boeing Company (BA - Free Report) recently secured a contract for providing F-15QA aircrew and maintenance training to support the Qatar Emiri Air Force (QAEF). Work related to the deal is scheduled to be completed by August 2026.
Valued at $500 million, the contract was awarded by the Air Force Installation Contracting Agency/338th Specialized Contracting Squadron, Joint Base San Antonio-Randolph, TX. The entire task will be carried out in St. Louis, Missouri.
A Brief Note on F-15
Boeing’s F-15 Strike Eagle is a twin-engine, all-weather tactical fighter aircraft. Its proven design is unbeatable in air-to-air combat, with more than 100 aerial combat victories.
What’s Favoring Boeing?
With rising security threats across the globe, the developing economies like India, Qatar and a few more along with the developed nations like the United States and Europe are ramping up their arsenal. Being the largest jet maker, Boeing thus enjoys a smooth flow of contracts for military jets and associated training services. The latest contract win is a bright example to the same.
These contract wins are providing a significant boost to the company’s defense business. Evidently, in second-quarter 2019, revenues at its defense segment — Boeing Defense, Space & Security (BDS) — increased a solid 8% year over year to $6.61 billion.
Notably, the U.S. government’s fiscal 2020 defense budget includes a spending provision of $57.7 billion on aircraft, a massive increase of 166% from the approved fiscal 2019 defense expenditure plan. As Boeing’s key forte has been combat-proven aircraft, it has higher chances of winning military-jet related contracts from the Pentagon like the latest one.
Price Movement
In a year’s time, shares of Boeing have gained about 3.8% compared with the industry’s 7.6% rise.
Zacks Rank & Key Picks
Boeing currently carries a Zacks Rank #3 (Hold). A few better-ranked stocks in the same space are Wesco Aircraft Holdings , General Dynamics Corp. (GD - Free Report) and Northrop Grumman Corp. (NOC - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Wesco Aircraft’s long-term growth estimates currently stand at 12%. The Zacks Consensus Estimate for 2019 earnings has increased 1.2% to 85 cents over the past 60 days.
General Dynamics’ long-term growth estimates currently stand at 8.7%. The Zacks Consensus Estimate for 2019 earnings has moved 0.9% up to $11.86 over the past 90 days.
Northrop Grumman’s long-term growth estimates currently stand at 12.40%. The Zacks Consensus Estimate for 2019 earnings has climbed 1.8% to $19.63 over the past 90 days.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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The Boeing Company (BA - Free Report) recently secured a contract for providing F-15QA aircrew and maintenance training to support the Qatar Emiri Air Force (QAEF). Work related to the deal is scheduled to be completed by August 2026.
Valued at $500 million, the contract was awarded by the Air Force Installation Contracting Agency/338th Specialized Contracting Squadron, Joint Base San Antonio-Randolph, TX. The entire task will be carried out in St. Louis, Missouri.
A Brief Note on F-15
Boeing’s F-15 Strike Eagle is a twin-engine, all-weather tactical fighter aircraft. Its proven design is unbeatable in air-to-air combat, with more than 100 aerial combat victories.
What’s Favoring Boeing?
With rising security threats across the globe, the developing economies like India, Qatar and a few more along with the developed nations like the United States and Europe are ramping up their arsenal. Being the largest jet maker, Boeing thus enjoys a smooth flow of contracts for military jets and associated training services. The latest contract win is a bright example to the same.
These contract wins are providing a significant boost to the company’s defense business. Evidently, in second-quarter 2019, revenues at its defense segment — Boeing Defense, Space & Security (BDS) — increased a solid 8% year over year to $6.61 billion.
Notably, the U.S. government’s fiscal 2020 defense budget includes a spending provision of $57.7 billion on aircraft, a massive increase of 166% from the approved fiscal 2019 defense expenditure plan. As Boeing’s key forte has been combat-proven aircraft, it has higher chances of winning military-jet related contracts from the Pentagon like the latest one.
Price Movement
In a year’s time, shares of Boeing have gained about 3.8% compared with the industry’s 7.6% rise.
Zacks Rank & Key Picks
Boeing currently carries a Zacks Rank #3 (Hold). A few better-ranked stocks in the same space are Wesco Aircraft Holdings , General Dynamics Corp. (GD - Free Report) and Northrop Grumman Corp. (NOC - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Wesco Aircraft’s long-term growth estimates currently stand at 12%. The Zacks Consensus Estimate for 2019 earnings has increased 1.2% to 85 cents over the past 60 days.
General Dynamics’ long-term growth estimates currently stand at 8.7%. The Zacks Consensus Estimate for 2019 earnings has moved 0.9% up to $11.86 over the past 90 days.
Northrop Grumman’s long-term growth estimates currently stand at 12.40%. The Zacks Consensus Estimate for 2019 earnings has climbed 1.8% to $19.63 over the past 90 days.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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