Embraer SA (ERJ) Shares Up 2%
Embraer SA (NYSE:ERJ)’s share price shot up 2% during mid-day trading on Thursday . The company traded as high as $18.09 and last traded at $17.97, with a volume of 524,176 shares traded. The stock had previously closed at $17.61.
A number of equities research analysts have recently commented on ERJ shares. Deutsche Bank AG dropped their price objective on shares of Embraer SA from $33.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, June 13th. Zacks Investment Research cut shares of Embraer SA from a “hold” rating to a “sell” rating in a research note on Monday, July 4th. Drexel Hamilton reaffirmed a “hold” rating on shares of Embraer SA in a research note on Tuesday, July 12th. Bank of America Corp. raised shares of Embraer SA from a “neutral” rating to a “buy” rating in a research note on Thursday, June 16th. They noted that the move was a valuation call. Finally, HSBC cut shares of Embraer SA from a “buy” rating to a “hold” rating and set a $19.00 price objective on the stock. in a research note on Monday, August 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $27.17.
The company has a market cap of $13.08 billion and a PE ratio of 494.44. The stock’s 50 day moving average price is $19.14 and its 200-day moving average price is $22.60.
Embraer SA (NYSE:ERJ) last announced its quarterly earnings results on Friday, July 29th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by $1.04. The company earned $1.37 billion during the quarter, compared to analysts’ expectations of $1.44 billion. The firm’s quarterly revenue was down 9.7% compared to the same quarter last year. During the same period last year, the business earned $0.71 earnings per share. Equities analysts expect that Embraer SA will post $0.98 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Embraer SA stock. Morgan Stanley boosted its position in shares of Embraer SA (NYSE:ERJ) by 216.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 493,454 shares of the company’s stock after buying an additional 337,405 shares during the period. Morgan Stanley owned about 0.07% of Embraer SA worth $14,576,000 at the end of the most recent reporting period.
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.