Embraer SA (ERJ) Upgraded by Goldman Sachs Group Inc. to “Buy”
Goldman Sachs Group Inc. upgraded shares of Embraer SA (NYSE:ERJ) from a neutral rating to a buy rating in a research note released on Wednesday morning. They currently have $23.00 target price on the stock.
Other research analysts also recently issued research reports about the stock. Bank of America Corp. raised shares of Embraer SA from a neutral rating to a buy rating in a report on Thursday, June 16th. They noted that the move was a valuation call. HSBC downgraded shares of Embraer SA from a buy rating to a hold rating and set a $19.00 price target for the company. in a report on Monday, August 1st. Drexel Hamilton reissued a hold rating on shares of Embraer SA in a research note on Tuesday, July 12th. JPMorgan Chase & Co. assumed coverage on shares of Embraer SA in a research note on Thursday, October 6th. They issued an overweight rating for the company. Finally, Zacks Investment Research downgraded shares of Embraer SA from a hold rating to a sell rating in a research note on Monday, July 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. Embraer SA currently has a consensus rating of Hold and an average price target of $26.67.
Shares of Embraer SA (NYSE:ERJ) opened at 18.87 on Wednesday. Embraer SA has a 12 month low of $17.06 and a 12 month high of $32.50. The stock has a 50 day moving average price of $18.29 and a 200-day moving average price of $20.60. The company has a market capitalization of $13.86 billion, a PE ratio of 510.00 and a beta of 0.83.
Embraer SA (NYSE:ERJ) last announced its quarterly earnings results on Friday, July 29th. The company reported ($0.54) EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by $1.04. Embraer SA had a net margin of 0.10% and a return on equity of 3.74%. The business earned $1.37 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the business posted $0.71 EPS. The firm’s revenue was down 9.7% on a year-over-year basis. Analysts forecast that Embraer SA will post $0.98 EPS for the current year.
Several institutional investors have recently modified their holdings of ERJ. Sarasin & Partners LLP raised its position in shares of Embraer SA by 16.1% in the third quarter. Sarasin & Partners LLP now owns 821,281 shares of the company’s stock worth $14,175,000 after buying an additional 113,949 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Embraer SA by 51.1% in the third quarter. BNP Paribas Arbitrage SA now owns 42,278 shares of the company’s stock worth $730,000 after buying an additional 14,300 shares during the period. Macquarie Group Ltd. bought a new position in shares of Embraer SA during the second quarter worth approximately $113,000. Nomura Holdings Inc. bought a new position in shares of Embraer SA during the second quarter worth approximately $221,000. Finally, Stifel Financial Corp raised its position in shares of Embraer SA by 3.9% in the second quarter. Stifel Financial Corp now owns 35,075 shares of the company’s stock worth $763,000 after buying an additional 1,309 shares during the period. 51.92% of the stock is currently owned by institutional investors and hedge funds.
Embraer SA Company Profile
Embraer SA is a Brazil-based company that 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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