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Boeing Secures First 737 MAX Order This Year From Enter Air
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The Boeing Company (BA - Free Report) has recently secured a new order for two 737-8 airplanes plus options for two more jets from Enter Air, Poland’s biggest charter carrier. With this deal, Boeing received the first order for its grounded 737 MAX aircraft this year.
Boeing and Enter Air have also finalized a settlement to address the damages caused by the grounding of the 737 MAX fleet, alongside changing the delivery date of four aircraft ordered earlier, due to the turmoil in the current market conditions.
Boeing’s 2020 in a Nutshell
It is already a known fact by now that Boeing’s commercial jet business has been suffering for more than a year. It all started with the two fatal crashes involving the 737 MAX aircraft within a span of six months that ultimately forced its grounding worldwide in March 2019. The grounding, combined with other issues, led to a decline in sales for its other aircraft models. Eventually, a temporary production halt for this jet was announced by Boeing in December.
To add further woes, the 737 Max’s grounding and subsequent order cancellations have given an upper hand to Boeing’s arch-rival, Airbus (EADSY - Free Report) in the commercial jet market.
Significance of this Deal
At a time when the entire airline industry is witnessing an extreme downturn and Boeing having to endure more than 400 order cancellations for the 737 MAX jets this year, the new deal from Enter Air carries enough impetus considering Boeing’s performance in the past year. Although a deal small in stature, this may well provide the aerospace giant a ray of hope on Federal Aviation Administration (FAA) lifting the ban on 737 Max production in the near future. This deal will further boost the company’s confidence in approaching other buyers for the 737 Max jets. Per a report by Reuters, Boeing’s shares were up about 1% to $171.60 per share, post the announcement of the new orders.
Price Performance
Shares of the company have gained 21.7% in the past three months compared with the industry’s growth of 7.8%.
Ducommun delivered an average four-quarter earnings beat of 60.22%. The Zacks Consensus Estimate for 2020 earnings has risen 18.5% to $2.18 per share in the past 90 days.
Teledyne Technologies delivered an average four-quarter earnings beat of 11.70%. The Zacks Consensus Estimate for 2020 earnings has risen 4.8% to $9.75 per share in the past 90 days.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
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Boeing Secures First 737 MAX Order This Year From Enter Air
The Boeing Company (BA - Free Report) has recently secured a new order for two 737-8 airplanes plus options for two more jets from Enter Air, Poland’s biggest charter carrier. With this deal, Boeing received the first order for its grounded 737 MAX aircraft this year.
Boeing and Enter Air have also finalized a settlement to address the damages caused by the grounding of the 737 MAX fleet, alongside changing the delivery date of four aircraft ordered earlier, due to the turmoil in the current market conditions.
Boeing’s 2020 in a Nutshell
It is already a known fact by now that Boeing’s commercial jet business has been suffering for more than a year. It all started with the two fatal crashes involving the 737 MAX aircraft within a span of six months that ultimately forced its grounding worldwide in March 2019. The grounding, combined with other issues, led to a decline in sales for its other aircraft models. Eventually, a temporary production halt for this jet was announced by Boeing in December.
To add further woes, the 737 Max’s grounding and subsequent order cancellations have given an upper hand to Boeing’s arch-rival, Airbus (EADSY - Free Report) in the commercial jet market.
Significance of this Deal
At a time when the entire airline industry is witnessing an extreme downturn and Boeing having to endure more than 400 order cancellations for the 737 MAX jets this year, the new deal from Enter Air carries enough impetus considering Boeing’s performance in the past year. Although a deal small in stature, this may well provide the aerospace giant a ray of hope on Federal Aviation Administration (FAA) lifting the ban on 737 Max production in the near future. This deal will further boost the company’s confidence in approaching other buyers for the 737 Max jets. Per a report by Reuters, Boeing’s shares were up about 1% to $171.60 per share, post the announcement of the new orders.
Price Performance
Shares of the company have gained 21.7% in the past three months compared with the industry’s growth of 7.8%.
Zacks Rank & Stocks to Consider
Boeing currently carries a Zacks Rank #4 (Sell).
A few better-ranked stocks in the same space are Ducommun Incorporated (DCO - Free Report) and Teledyne Technologies Incorporated (TDY - 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.
Ducommun delivered an average four-quarter earnings beat of 60.22%. The Zacks Consensus Estimate for 2020 earnings has risen 18.5% to $2.18 per share in the past 90 days.
Teledyne Technologies delivered an average four-quarter earnings beat of 11.70%. The Zacks Consensus Estimate for 2020 earnings has risen 4.8% to $9.75 per share in the past 90 days.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>