Goldman Sachs Group Inc. Upgrades Embraer SA (ERJ) to “Buy”
Embraer SA (NYSE:ERJ) was upgraded by stock analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “buy” rating in a report issued on Wednesday, The Fly reports.
ERJ has been the topic of several other research reports. Zacks Investment Research lowered shares of Embraer SA from a “hold” rating to a “sell” rating in a research note on Monday, July 4th. Bank of America Corp. upgraded shares of Embraer SA from a “neutral” rating to a “buy” rating in a research note on Thursday, June 16th. They noted that the move was a valuation call. JPMorgan Chase & Co. started coverage on shares of Embraer SA in a research note on Thursday, October 6th. They issued an “overweight” rating on the stock. HSBC lowered shares of Embraer SA from a “buy” rating to a “hold” rating and set a $19.00 price target on the stock. in a research note on Monday, August 1st. Finally, Drexel Hamilton restated a “hold” rating on shares of Embraer SA in a research note on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $27.17.
Shares of Embraer SA (NYSE:ERJ) traded down 1.72% on Wednesday, hitting $17.17. The company had a trading volume of 907,963 shares. The company has a 50-day moving average of $18.21 and a 200 day moving average of $20.84. Embraer SA has a 12 month low of $17.06 and a 12 month high of $32.50. The stock has a market cap of $12.62 billion, a PE ratio of 464.05 and a beta of 0.83.
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Embraer SA (NYSE:ERJ) last released its quarterly earnings data on Friday, July 29th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of $0.50 by $1.04. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.44 billion. Embraer SA had a return on equity of 3.74% and a net margin of 0.10%. Embraer SA’s revenue was down 9.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.71 EPS. Analysts anticipate that Embraer SA will post $0.98 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of ERJ. BlackRock Investment Management LLC bought 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. bought 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. bought a new position in Embraer SA during the second quarter valued at about $169,000. 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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