Embraer SA (ERJ) Lifted to Outperform at Scotiabank
Embraer SA (NYSE:ERJ) was upgraded by investment analysts at Scotiabank from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Friday.
Several other research analysts also recently issued reports on ERJ. Zacks Investment Research downgraded shares of Embraer SA from a “hold” rating to a “sell” rating in a report on Monday, July 4th. Drexel Hamilton restated a “hold” rating on shares of Embraer SA in a report on Tuesday, July 12th. Bank of America Corp. upgraded 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 objective on the stock. in a report on Monday, August 1st. Finally, JPMorgan Chase & Co. began coverage on shares of Embraer SA in a report on Thursday, October 6th. They set an “overweight” rating on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. Embraer SA presently has a consensus rating of “Hold” and an average target price of $26.67.
Embraer SA (NYSE:ERJ) traded up 2.61% during trading on Friday, reaching $18.45. The company had a trading volume of 971,125 shares. Embraer SA has a 12-month low of $17.06 and a 12-month high of $32.50. The firm has a 50-day moving average price of $18.21 and a 200 day moving average price of $20.79. The stock has a market cap of $13.56 billion, a P/E ratio of 498.65 and a beta of 0.83.
Embraer SA (NYSE:ERJ) last posted its quarterly earnings data on Friday, July 29th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by $1.04. Embraer SA had a return on equity of 3.74% and a net margin of 0.10%. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the firm posted $0.71 EPS. The business’s revenue for the quarter was down 9.7% compared to the same quarter last year. Equities research analysts predict that Embraer SA will post $0.98 EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of ERJ. Brandes Investment Partners LP boosted its stake in shares of Embraer SA by 26.6% in the second quarter. Brandes Investment Partners LP now owns 14,709,017 shares of the company’s stock valued at $319,309,000 after buying an additional 3,086,021 shares in the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of Embraer SA during the second quarter valued at $65,017,000. Allianz Asset Management AG boosted its stake in shares of Embraer SA by 13,087.6% in the second quarter. Allianz Asset Management AG now owns 2,254,413 shares of the company’s stock valued at $48,966,000 after buying an additional 2,237,318 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of Embraer SA during the second quarter valued at $23,222,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Embraer SA by 733.8% in the second quarter. Bank of New York Mellon Corp now owns 764,137 shares of the company’s stock valued at $16,597,000 after buying an additional 672,494 shares in the last quarter. 51.93% of the stock is currently owned by institutional investors and hedge funds.
About Embraer SA
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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