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Boeing Wins $71M Deal to Aid Minuteman III Missile Program
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The Boeing Company (BA - Free Report) recently secured a $70.5-million modification contract for the Minuteman III Intercontinental Ballistic Missile (ICBM) Flight test, telemetry, and termination program. Work related to the deal will be mostly carried out in Huntington Beach, CA and is expected to be completed by Jan 29, 2021.
Per the agreement, Boeing will change certain specifications pertaining to the flight termination receiver, electromagnetic interference, cable qualification and antenna testing requirements. The contract was awarded by the Air Force Nuclear Weapon Center, Hill Air Force Base, Utah.
A Note on Minuteman III ICBM
Boeing’s Minuteman III ICBM is being used by the U.S. Air Force Combat Command, which is a vital component of the U.S. strategic deterrent forces. The Minuteman III missile is a long-range, solid-fuel, three-stage ICBM with the capability to carry single or multiple nuclear warheads. These ballistic missiles are dispersed in hardened silos to protect against attack and connected to an underground launch control center through a system of hardened cables.
What Favors Boeing?
Increasing geo-political tensions across the globe have prompted nations to strengthen their defense arsenal with technologically advanced ballistic missile systems. With these significant advancements, missile defense has steadily emerged to play a pivotal role in a nation’s defense strategy. To this end, Boeing Defense, Space & Security (BDS) segment has been clinching frequent awards from the United States as well as international customers.
Notably, the company’s BDS segment recorded third-quarter 2018 net sales of $5.73 billion, reflecting a 13% improvement from the year-ago quarter. Considering this, we may expect notable contracts, like the latest one, to instill further growth in this segment.
Meanwhile, toward the end of June 2018, the U.S. Senate approved the fiscal 2019 defense budget that provisions for major war fighting investments worth $6 billion for Missile Defense Programs. Such developments ensure Boeing to be a significant beneficiary of the budget.
Price Movement
Boeing’s stock has gained 33.5% in the past 12 months compared with the industry’s growth of 9.8%. The outperformance was primarily led by the robust worldwide demand for the company’s commercial aircraft and military jets.
Zacks Rank & Other Key Picks
Boeing currently carries a Zacks Rank #2 (Buy).
A few other top-ranked stocks in the same sector are Aerojet Rocketdyne Holdings , Raytheon Company and Curtiss-Wright Corporation (CW - Free Report) .
Aerojet Rocketdyne came up with average positive earnings surprise of 19.27% in the last four quarters. The Zacks Consensus Estimate for 2018 earnings has increased 43.3% to $1.82 in the past 90 days
Raytheon delivered average positive earnings surprise of 6.71% in the last four quarters. The Zacks Consensus Estimate for 2018 earnings has moved up 1.6% to $10.09 cents in the past 90 days.
Curtiss-Wright pulled off average positive earnings surprise of 19.86% for the trailing four quarters. The Zacks Consensus Estimate for 2018 earnings has moved 1.3% north to $6.23 in the past 90 days.
3 Medical Stocks to Buy Now
The greatest discovery in this century of biology is now at the flashpoint between theory and realization. Billions of dollars in research have poured into it. Companies are already generating revenue, and cures for a variety of deadly diseases are in the pipeline.
So are big potential profits for early investors. Zacks has released an updated Special Report that explains this breakthrough and names the best 3 stocks to ride it.
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Boeing Wins $71M Deal to Aid Minuteman III Missile Program
The Boeing Company (BA - Free Report) recently secured a $70.5-million modification contract for the Minuteman III Intercontinental Ballistic Missile (ICBM) Flight test, telemetry, and termination program. Work related to the deal will be mostly carried out in Huntington Beach, CA and is expected to be completed by Jan 29, 2021.
Per the agreement, Boeing will change certain specifications pertaining to the flight termination receiver, electromagnetic interference, cable qualification and antenna testing requirements. The contract was awarded by the Air Force Nuclear Weapon Center, Hill Air Force Base, Utah.
A Note on Minuteman III ICBM
Boeing’s Minuteman III ICBM is being used by the U.S. Air Force Combat Command, which is a vital component of the U.S. strategic deterrent forces. The Minuteman III missile is a long-range, solid-fuel, three-stage ICBM with the capability to carry single or multiple nuclear warheads. These ballistic missiles are dispersed in hardened silos to protect against attack and connected to an underground launch control center through a
system of hardened cables.
What Favors Boeing?
Increasing geo-political tensions across the globe have prompted nations to strengthen their defense arsenal with technologically advanced ballistic missile systems. With these significant advancements, missile defense has steadily emerged to play a pivotal role in a nation’s defense strategy. To this end, Boeing Defense, Space & Security (BDS) segment has been clinching frequent awards from the United States as well as international customers.
Notably, the company’s BDS segment recorded third-quarter 2018 net sales of $5.73 billion, reflecting a 13% improvement from the year-ago quarter. Considering this, we may expect notable contracts, like the latest one, to instill further growth in this segment.
Meanwhile, toward the end of June 2018, the U.S. Senate approved the fiscal 2019 defense budget that provisions for major war fighting investments worth $6 billion for Missile Defense Programs. Such developments ensure Boeing to be a significant beneficiary of the budget.
Price Movement
Boeing’s stock has gained 33.5% in the past 12 months compared with the industry’s growth of 9.8%. The outperformance was primarily led by the robust worldwide demand for the company’s commercial aircraft and military jets.
Zacks Rank & Other Key Picks
Boeing currently carries a Zacks Rank #2 (Buy).
A few other top-ranked stocks in the same sector are Aerojet Rocketdyne Holdings , Raytheon Company and Curtiss-Wright Corporation (CW - Free Report) .
While Aerojet Rocketdyne sports a Zacks Rank #1 (Strong Buy), Raytheon and Curtiss-Wright carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Aerojet Rocketdyne came up with average positive earnings surprise of 19.27% in the last four quarters. The Zacks Consensus Estimate for 2018 earnings has increased 43.3% to $1.82 in the past 90 days
Raytheon delivered average positive earnings surprise of 6.71% in the last four quarters. The Zacks Consensus Estimate for 2018 earnings has moved up 1.6% to $10.09 cents in the past 90 days.
Curtiss-Wright pulled off average positive earnings surprise of 19.86% for the trailing four quarters. The Zacks Consensus Estimate for 2018 earnings has moved 1.3% north to $6.23 in the past 90 days.
3 Medical Stocks to Buy Now
The greatest discovery in this century of biology is now at the flashpoint between theory and realization. Billions of dollars in research have poured into it. Companies are already generating revenue, and cures for a variety of deadly diseases are in the pipeline.
So are big potential profits for early investors. Zacks has released an updated Special Report that explains this breakthrough and names the best 3 stocks to ride it.
See them today for free >>