Bank of Montreal Can Purchases New Stake in Embraer SA (ERJ)
Bank of Montreal Can acquired a new position in Embraer SA (NYSE:ERJ) during the second quarter, Holdings Channel reports. The fund acquired 266,604 shares of the company’s stock, valued at approximately $5,791,000.
Other institutional investors also recently added to or reduced their stakes in the company. Telemus Capital LLC boosted its position in Embraer SA by 17.5% in the second quarter. Telemus Capital LLC now owns 9,332 shares of the company’s stock worth $203,000 after buying an additional 1,388 shares in the last quarter. BlackRock Inc. boosted its position in Embraer SA by 3.7% in the first quarter. BlackRock Inc. now owns 13,754 shares of the company’s stock worth $363,000 after buying an additional 497 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in Embraer SA by 181.2% in the second quarter. BNP Paribas Arbitrage SA now owns 27,978 shares of the company’s stock worth $608,000 after buying an additional 18,027 shares in the last quarter. Natixis boosted its position in Embraer SA by 71.1% in the first quarter. Natixis now owns 23,096 shares of the company’s stock worth $609,000 after buying an additional 9,595 shares in the last quarter. Finally, BB&T Securities LLC boosted its position in Embraer SA by 9.8% in the first quarter. BB&T Securities LLC now owns 24,234 shares of the company’s stock worth $638,000 after buying an additional 2,170 shares in the last quarter. Institutional investors and hedge funds own 51.93% of the company’s stock.
Embraer SA (NYSE:ERJ) traded down 1.41% during midday trading on Tuesday, hitting $17.47. 1,320,559 shares of the stock were exchanged. The stock has a market cap of $12.84 billion, a PE ratio of 472.16 and a beta of 0.83. The company’s 50 day moving average is $18.21 and its 200-day moving average is $20.86. Embraer SA has a 1-year low of $17.13 and a 1-year high of $32.50.
Embraer SA (NYSE:ERJ) last posted its quarterly earnings results on Friday, July 29th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of $0.50 by $1.04. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Embraer SA had a return on equity of 3.74% and a net margin of 0.10%. The company’s revenue was down 9.7% compared to the same quarter last year. During the same period last year, the business posted $0.71 earnings per share. On average, analysts expect that Embraer SA will post $0.98 earnings per share for the current year.
ERJ has been the subject of a number of research analyst reports. Bank of America Corp. upgraded shares of Embraer SA from a “neutral” rating to a “buy” rating in a research report on Thursday, June 16th. They noted that the move was a valuation call. Deutsche Bank AG decreased their price target on shares of Embraer SA from $33.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, June 13th. HSBC cut shares of Embraer SA from a “buy” rating to a “hold” rating and set a $19.00 price target for the company. in a research report on Monday, August 1st. Drexel Hamilton restated a “hold” rating on shares of Embraer SA in a research report on Tuesday, July 12th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Embraer SA in a research report on Thursday, October 6th. They issued an “overweight” rating for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $27.17.
Embraer SA Company Profile
Embraer SA (Embraer) produces aircraft for commercial and executive aviation, and for defense and security purposes and related services. The Company’s segments include Commercial aviation business, Defense and security business, Executive Jet business and Other. Its Commercial Aviation business segment mainly involves the development, production and sale of commercial jets, and rendering of support services.
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