Embraer SA (ERJ) Short Interest Up 48.3% in September
Embraer SA (NYSE:ERJ) saw a large growth in short interest in September. As of September 30th, there was short interest totalling 2,669,707 shares, a growth of 48.3% from the September 15th total of 1,800,038 shares. Based on an average daily trading volume, of 1,136,447 shares, the days-to-cover ratio is currently 2.3 days.
Several research firms recently commented on ERJ. Zacks Investment Research downgraded Embraer SA from a “hold” rating to a “sell” rating in a report on Monday, July 4th. Drexel Hamilton reissued a “hold” rating on shares of Embraer SA in a research report on Tuesday, July 12th. Scotiabank raised Embraer SA from a “sector perform” rating to an “outperform” rating in a research report on Friday. HSBC cut Embraer SA from a “buy” rating to a “hold” rating and set a $19.00 target price on the stock. in a research report on Monday, August 1st. Finally, JPMorgan Chase & Co. initiated coverage on Embraer SA in a research report on Thursday, October 6th. They issued an “overweight” rating on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $26.67.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Investment Management LLC acquired a new position in shares of Embraer SA during the second quarter valued at about $108,000. JFS Wealth Advisors LLC raised its position in shares of 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 in the last quarter. Macquarie Group Ltd. acquired a new position in shares of Embraer SA during the second quarter valued at about $113,000. Commonwealth Bank of Australia raised its position in shares of 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 in the last quarter. Finally, Advisor Group Inc. acquired a new position in shares of Embraer SA during the second quarter valued at about $169,000. 51.92% of the stock is currently owned by institutional investors.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/18/embraer-sa-erj-short-interest-up-48-3-in-september.html
Embraer SA (NYSE:ERJ) opened at 18.87 on Tuesday. Embraer SA has a 52-week low of $17.06 and a 52-week high of $32.50. The stock has a market capitalization of $13.86 billion, a PE ratio of 510.00 and a beta of 0.83. The stock’s 50 day moving average price is $18.29 and its 200-day moving average price is $20.60.
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 the Thomson Reuters’ consensus estimate 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 analyst estimates of $1.44 billion. During the same period in the prior year, the company earned $0.71 earnings per share. The company’s quarterly revenue was down 9.7% on a year-over-year basis. On average, equities analysts expect that Embraer SA will post $0.98 EPS for the current fiscal year.
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.
Receive News & Ratings for Embraer SA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Embraer SA and related companies with MarketBeat.com's FREE daily email newsletter.