Westpac Banking Corp bought a new position in shares of Embraer SA (NYSE:ERJ) during the second quarter, Holdings Channel reports. The institutional investor bought 35,116 shares of the company’s stock, valued at approximately $763,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in Embraer SA by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,439,260 shares of the company’s stock worth $52,976,000 after buying an additional 101,740 shares in the last quarter. Brandes Investment Partners LP increased its stake in Embraer SA by 26.6% in the second quarter. Brandes Investment Partners LP now owns 14,709,017 shares of the company’s stock worth $319,309,000 after buying an additional 3,086,021 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Embraer SA by 10.9% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,856,381 shares of the company’s stock worth $127,200,000 after buying an additional 575,192 shares in the last quarter. Oxford Asset Management increased its stake in Embraer SA by 9.3% in the second quarter. Oxford Asset Management now owns 1,660,012 shares of the company’s stock worth $36,055,000 after buying an additional 141,144 shares in the last quarter. Finally, Airain ltd purchased a new stake in Embraer SA during the second quarter worth $2,560,000. 51.93% of the stock is owned by institutional investors and hedge funds.
Embraer SA (NYSE:ERJ) remained flat at $17.26 during mid-day trading on Monday. 99,005 shares of the company’s stock were exchanged. The firm has a market cap of $12.68 billion, a PE ratio of 479.44 and a beta of 0.83. The company’s 50-day moving average is $18.34 and its 200-day moving average is $21.24. Embraer SA has a one year low of $17.13 and a one year high of $32.50.
Embraer SA (NYSE:ERJ) last released its earnings results on Friday, July 29th. The company reported ($0.54) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by $1.04. The firm earned $1.37 billion during the quarter, compared to the consensus estimate of $1.44 billion. Embraer SA had a return on equity of 3.74% and a net margin of 0.10%. The business’s quarterly revenue was down 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.71 EPS. On average, equities research analysts predict that Embraer SA will post $1.04 EPS for the current year.
A number of analysts have weighed in on the stock. HSBC downgraded shares of Embraer SA from a “buy” rating to a “hold” rating and set a $19.00 target price for the company. in a research report on Monday, August 1st. Drexel Hamilton reissued a “hold” rating on shares of Embraer SA in a research report on Tuesday, July 12th. Zacks Investment Research downgraded shares of Embraer SA from a “hold” rating to a “sell” rating in a research report on Monday, July 4th. Bank of America Corp. raised 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. Finally, Deutsche Bank AG reduced their price objective 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $27.17.
About Embraer SA
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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