Embraer SA (ERJ) Upgraded to Outperform at Cowen and Company
Embraer SA (NYSE:ERJ) was upgraded by equities researchers at Cowen and Company to an “outperform” rating in a research note issued to investors on Tuesday.
Other research analysts have also issued research reports about the company. Goldman Sachs Group Inc. upgraded Embraer SA from a “neutral” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Wednesday, October 12th. HSBC lowered Embraer SA from a “buy” rating to a “hold” rating and set a $19.00 target price on the stock. in a report on Monday, August 1st. Drexel Hamilton restated a “hold” rating on shares of Embraer SA in a report on Tuesday, July 12th. Scotiabank upgraded Embraer SA from a “sector perform” rating to an “outperform” rating in a report on Friday. Finally, JPMorgan Chase & Co. initiated coverage on Embraer SA in a report on Thursday, October 6th. They issued an “overweight” rating on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. Embraer SA currently has a consensus rating of “Buy” and a consensus price target of $26.67.
Embraer SA (NYSE:ERJ) opened at 18.87 on Tuesday. Embraer SA has a 12-month low of $17.06 and a 12-month high of $32.50. The company has a market cap 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.
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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 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 firm earned $1.37 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the company posted $0.71 EPS. The firm’s revenue was down 9.7% on a year-over-year basis. Equities research analysts anticipate that Embraer SA will post $0.98 EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in ERJ. Brandes Investment Partners LP increased its stake in Embraer SA by 26.6% in the second quarter. Brandes Investment Partners LP now owns 14,709,017 shares of the company’s stock worth $319,309,000 after buying an additional 3,086,021 shares in the last quarter. Emerald Acquisition Ltd. purchased a new stake in Embraer SA during the second quarter worth about $65,017,000. Allianz Asset Management AG increased its stake in 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 worth $48,966,000 after buying an additional 2,237,318 shares in the last quarter. AQR Capital Management LLC purchased a new stake in Embraer SA during the second quarter worth about $23,222,000. Finally, Bank of New York Mellon Corp increased its stake in 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 worth $16,597,000 after buying an additional 672,494 shares in the last quarter. 51.92% of the stock is 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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