Embraer (NYSE:ERJ) released its earnings results on Wednesday. The aerospace company reported ($0.23) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.02), MarketWatch Earnings reports. The company had revenue of $823.30 million for the quarter, compared to analyst estimates of $1.03 billion. Embraer had a negative net margin of 4.25% and a negative return on equity of 2.30%. Embraer’s revenue for the quarter was down 14.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.13) earnings per share.
Shares of ERJ stock traded up $0.71 during mid-day trading on Friday, reaching $17.86. The company’s stock had a trading volume of 85,985 shares, compared to its average volume of 673,407. Embraer has a 1-year low of $16.81 and a 1-year high of $27.70. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of -59.23 and a beta of -0.25. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.51 and a current ratio of 2.33.
Several equities analysts recently commented on ERJ shares. ValuEngine upgraded shares of Embraer from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Morgan Stanley reiterated an “equal weight” rating and set a $23.50 target price (down from $24.50) on shares of Embraer in a research note on Thursday, January 17th. Zacks Investment Research cut shares of Embraer from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Cowen reiterated a “hold” rating and set a $24.00 target price on shares of Embraer in a research note on Thursday, January 17th. Finally, Credit Suisse Group cut shares of Embraer from an “outperform” rating to a “neutral” rating in a research note on Tuesday, January 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $26.75.
Hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Embraer by 10.3% in the 3rd quarter. BlackRock Inc. now owns 600,853 shares of the aerospace company’s stock valued at $11,772,000 after buying an additional 56,048 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Embraer by 442.9% in the 4th quarter. American Century Companies Inc. now owns 709,385 shares of the aerospace company’s stock valued at $15,699,000 after buying an additional 578,725 shares in the last quarter. Community Financial Services Group LLC raised its stake in shares of Embraer by 4.2% in the 4th quarter. Community Financial Services Group LLC now owns 271,470 shares of the aerospace company’s stock valued at $6,007,000 after buying an additional 11,025 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Embraer in the 4th quarter valued at $112,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Embraer by 73.3% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 39,000 shares of the aerospace company’s stock valued at $863,000 after buying an additional 16,500 shares in the last quarter. Institutional investors own 45.70% of the company’s stock.
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Embraer Company Profile
Embraer SA designs, develops, manufactures, and sells aircraft and systems in Brazil, North America, Latin America, the Asia Pacific, Europe, and internationally. It operates through Commercial Aviation, Defense and Security, Executive Jets, Service & Support, and Other segments. The Commercial Aviation segment develops, produces, and sells commercial jets; and provides support services, as well as leases aircraft.
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