Aeronautics giant Boeing fell 2.11% at the end of the session on Wall Street after the JPMorgan bank downgraded the company’s profit forecast for 2019, due to the shutdown of production of the 737MAX models.
The analyst of the financial institution Seth Seifman said that, due to the new correction required for the computer systems of the aircraft – the same ones that staged two fatal accidents in Indonesia in October and in Ethiopia in March – production could be delayed further.
“With the new modification requested, Boeing faces a greater risk in terms of time, because the additional delays could ultimately result in a further decrease in production,” Marketwatch said in a letter to his clients, quoted in the specialized media outlets.
Boeing already announced in early April that they had slowed the production of the model injured from 52 to 42 per month, a measure that followed the paralysis of the deliveries of the affected aircraft to fix the failures in the computer system of the ship.
With the new estimate of results, Boeing would obtain a turnover at the end of 2019 of 86,100 million dollars, with earnings per share of 13.23 dollars.
In comparison, the company billed 101.127 million dollars in 2018, with a profit per share of 17.85 dollars.
Boeing thus became the company that was left most within the thirty components of the Dow Jones Industrial, on a day when the main indicator rose, driven by the new trade cease between the US and China reached this weekend during the G20 summit in Japan.
In the last three months, Boeing has lost around 9% of its value in the stock market, although it is still 10.49% above the price with which it started the year.
Right now, Boeing’s market capitalization is around 200 billion dollars.