Embraer SA (NYSE:ERJ) was upgraded by equities research analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “buy” rating in a research report issued on Wednesday. The firm presently has a $23.00 target price on the stock. Goldman Sachs Group Inc.’s target price points to a potential upside of 27.92% from the stock’s current price.
Several other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. initiated coverage on Embraer SA in a research report on Thursday, October 6th. They issued an “overweight” rating for the company. HSBC cut Embraer SA from a “buy” rating to a “hold” rating and set a $19.00 price objective for the company. in a research report on Monday, August 1st. Bank of America Corp. raised 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. Drexel Hamilton reissued a “hold” rating on shares of Embraer SA in a research report on Tuesday, July 12th. Finally, Zacks Investment Research cut Embraer SA from a “hold” rating to a “sell” rating in a research report on Monday, July 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. Embraer SA presently has a consensus rating of “Hold” and a consensus target price of $26.67.
Embraer SA (NYSE:ERJ) opened at 17.98 on Wednesday. The firm has a market cap of $13.21 billion, a P/E ratio of 485.95 and a beta of 0.83. Embraer SA has a one year low of $17.06 and a one year high of $32.50. The stock’s 50 day moving average is $18.21 and its 200 day moving average is $20.79.
Embraer SA (NYSE:ERJ) last announced its earnings results on Friday, July 29th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by $1.04. The company had revenue of $1.37 billion for 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 firm’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.71 EPS. On average, equities research analysts expect that Embraer SA will post $0.98 earnings per share for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. 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 last quarter. Macquarie Group Ltd. purchased a new position in shares of Embraer SA during the second quarter worth approximately $113,000. Nomura Holdings Inc. purchased a new position in shares of Embraer SA during the second quarter worth approximately $221,000. 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 last quarter. Finally, Highbridge Capital Management LLC purchased a new position in shares of Embraer SA during the second quarter worth approximately $292,000. Institutional investors and hedge funds own 51.93% of the company’s stock.
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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