Embraer S.A. (NYSE:ERJ) Forecasted to Post Q1 2024 Earnings of ($0.01) Per Share

Embraer S.A. (NYSE:ERJ) – Investment analysts at Zacks Research dropped their Q1 2024 EPS estimates for shares of Embraer in a research note issued to investors on Monday, April 8th. Zacks Research analyst R. Department now expects that the aerospace company will earn ($0.01) per share for the quarter, down from their previous estimate of $0.30. The consensus estimate for Embraer’s current full-year earnings is $1.36 per share. Zacks Research also issued estimates for Embraer’s Q3 2024 earnings at $0.24 EPS, Q4 2024 earnings at $0.73 EPS, Q1 2025 earnings at $0.74 EPS, Q2 2025 earnings at $0.95 EPS, Q3 2025 earnings at $0.79 EPS and Q4 2025 earnings at ($0.44) EPS.

Several other research firms also recently weighed in on ERJ. HSBC downgraded Embraer from a “buy” rating to a “hold” rating and upped their price target for the stock from $18.00 to $19.00 in a research note on Tuesday, February 6th. Morgan Stanley upped their price target on Embraer from $19.50 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, March 14th. UBS Group reiterated a “neutral” rating and set a $28.50 target price (up from $21.00) on shares of Embraer in a research report on Tuesday, March 26th. StockNews.com upgraded Embraer from a “hold” rating to a “buy” rating in a research report on Tuesday, March 26th. Finally, JPMorgan Chase & Co. increased their target price on Embraer from $21.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $29.75.

Embraer Price Performance

ERJ stock opened at $25.88 on Wednesday. Embraer has a 1-year low of $12.48 and a 1-year high of $27.25. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.93 and a current ratio of 1.65. The business has a 50 day simple moving average of $21.76 and a two-hundred day simple moving average of $18.27.

Embraer (NYSE:ERJ) last released its earnings results on Monday, March 18th. The aerospace company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.15. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $2.21 billion. Embraer had a net margin of 3.11% and a return on equity of 2.80%.

Institutional Trading of Embraer

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Brandes Investment Partners LP increased its stake in Embraer by 1.6% in the third quarter. Brandes Investment Partners LP now owns 17,880,297 shares of the aerospace company’s stock worth $245,318,000 after purchasing an additional 285,282 shares during the period. Renaissance Technologies LLC increased its stake in Embraer by 148.1% in the first quarter. Renaissance Technologies LLC now owns 2,869,400 shares of the aerospace company’s stock worth $36,183,000 after purchasing an additional 1,712,800 shares during the period. Dimensional Fund Advisors LP increased its stake in Embraer by 2.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,142,006 shares of the aerospace company’s stock worth $35,065,000 after purchasing an additional 46,572 shares during the period. BlackRock Inc. increased its stake in shares of Embraer by 30.2% during the first quarter. BlackRock Inc. now owns 2,012,196 shares of the aerospace company’s stock valued at $25,374,000 after buying an additional 466,642 shares during the period. Finally, Itau Unibanco Holding S.A. increased its stake in shares of Embraer by 69.3% during the third quarter. Itau Unibanco Holding S.A. now owns 1,431,059 shares of the aerospace company’s stock valued at $19,634,000 after buying an additional 586,027 shares during the period. Hedge funds and other institutional investors own 34.65% of the company’s stock.

About Embraer

Embraer SA designs, develops, manufactures, and sells aircraft and systems in North America, Latin America, the Asia Pacific, Brazil, Europe, and internationally. The company operates through Commercial Aviation; Defense & Security; Executive Aviation; Services & Support; and Other segments. The Commercial Aviation segment designs, develops, manufactures, and sells commercial jets, as well as leases aircraft.