Embraer SA (ERJ) Upgraded to “Buy” at Goldman Sachs Group Inc.
Embraer SA (NYSE:ERJ) was upgraded by Goldman Sachs Group Inc. from a “neutral” rating to a “buy” rating in a research report issued on Wednesday.
Several other research firms have also recently weighed in on ERJ. Zacks Investment Research cut Embraer SA from a “hold” rating to a “sell” rating in a research report on Monday, July 4th. Drexel Hamilton reaffirmed a “hold” rating on shares of Embraer SA in a research report on Tuesday, July 12th. 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. HSBC cut Embraer SA from a “buy” rating to a “hold” rating and set a $19.00 price objective on the stock. in a research report on Monday, August 1st. Finally, JPMorgan Chase & Co. began coverage on Embraer SA in a research report on Thursday, October 6th. They set an “overweight” rating on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. Embraer SA presently has an average rating of “Hold” and a consensus price target of $27.17.
Shares of Embraer SA (NYSE:ERJ) traded down 1.72% during trading on Wednesday, hitting $17.17. The stock had a trading volume of 905,976 shares. Embraer SA has a 1-year low of $17.06 and a 1-year high of $32.50. The company has a market capitalization of $12.62 billion, a price-to-earnings ratio of 464.05 and a beta of 0.83. The firm has a 50 day moving average of $18.21 and a 200 day moving average of $20.84.
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 analysts’ consensus estimates 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 had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the prior year, the firm earned $0.71 EPS. The firm’s revenue for the quarter was down 9.7% on a year-over-year basis. Analysts expect that Embraer SA will post $0.98 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in ERJ. BlackRock Investment Management LLC acquired a new position in Embraer SA during the second quarter valued at about $108,000. JFS Wealth Advisors LLC boosted its position in Embraer SA by 14.4% in the second quarter. JFS Wealth Advisors LLC now owns 4,998 shares of the company’s stock valued at $109,000 after buying an additional 631 shares during the period. Macquarie Group Ltd. acquired a new position in Embraer SA during the second quarter valued at about $113,000. Commonwealth Bank of Australia boosted its position in Embraer SA by 6.0% in the second quarter. Commonwealth Bank of Australia now owns 7,019 shares of the company’s stock valued at $152,000 after buying an additional 400 shares during the period. Finally, Advisor Group Inc. acquired a new position in Embraer SA during the second quarter valued at about $169,000. 51.93% 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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