Bombardier (TSX:BBD.A) shares soared on Monday boosted by recent analyst commentary on the stock ahead of the company's fourth quarter earnings report. Shares of Bombardier Class B stock gained 10% at C$97 late morning in Toronto The Montreal-headquartered business jet manufacturer earned a price target of C$133 last week from analysts at the Royal Bank of Canada, implying upside of almost 40% at the time of writing.
Bombardier Class B shares are favored due to higher trading volumes, superior price returns, and dividend priority compared to Class A shares. Class A shares offer more voting rights but are primarily held by the Bombardier family, making them less attractive for common investors. Bombardier hasn't paid dividends since 2014, but Class B shares are preferred for potential future dividends.
HON is set to offer Bombardier its state-of-the-art aviation technologies for the latter's existing and future aircraft.
Honeywell International (HON) cut its full-year sales and earnings outlook following an aviation technology partnership the conglomerate struck with Canada's Bombardier.
Honeywell on Monday cut its profit and sales forecasts for the fourth quarter and the full year to take into account investments associated with an agreement to provide aviation-related technology for Bombardier's aircraft.
Shares of Honeywell International Inc. fell in extended trading Monday after the conglomerate cut its outlook for the months ahead, citing the costs of investing in a new tech-focused collaboration with jet maker Bombardier announced earlier in the day.
Reiterating my buy rating for Bombardier, with a price target increase from $81 to $85 for 2025 and $97 for 2026. Bombardier's Q3 revenues grew 12%, driven by better pricing and service revenue, despite supply chain issues and margin pressures. Business jet market indicators signal caution, but Bombardier's focus on larger jets and strong order activity for Challenger 3500 support growth.
Bombardier Inc. (OTCQX:BDRBF) Q3 2024 Earnings Conference Call November 7, 2024 8:00 AM ET Company Participants Francis Richer de La Fleche - Vice President, FP&A and IR Éric Martel - President and CEO Bart Demosky - Executive Vice President and CFO Conference Call Participants Seth Seifman - J.P. Morgan Benoit Poirier - Desjardins Tim James - TD Cowen Myles Walton - Wolfe Research Ron Epstein - Bank of America Cameron Doerksen - National Bank Gavin Parsons - UBS Josh Korn - Barclays Jay Singh - Citi Operator Good morning, ladies and gentlemen.
Bombardier said on Thursday its third-quarter revenue rose 12%, helped by strong demand for business jet parts and repairs.
Bombardier Inc. has improved their financial health and profitability, with Q3 revenues up to $2.2 billion and adjusted EBITDA rising 22%. BDRBF delivered 39 business jets in the quarter, and entered the black on the bottom line, highlighting successful turnaround efforts. Bombardier maintains a positive outlook, expecting $7.5 billion in 2024 revenues, supported by a $14.9 billion order backlog and net debt of $4.5 billion.