Embraer (NYSE:ERJ) announced its quarterly earnings results on Wednesday. The aerospace company reported ($0.23) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.02), MarketWatch Earnings reports. Embraer had a negative net margin of 4.25% and a negative return on equity of 2.30%. The firm had revenue of $823.30 million for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the business posted ($0.13) earnings per share. The business’s revenue for the quarter was down 14.3% compared to the same quarter last year.
NYSE ERJ traded up $0.54 on Friday, hitting $17.69. 2,355,975 shares of the company traded hands, compared to its average volume of 890,006. The company has a market capitalization of $3.31 billion, a PE ratio of -58.97 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. Embraer has a 52-week low of $16.81 and a 52-week high of $27.70.
ERJ has been the subject of a number of analyst reports. ValuEngine upgraded Embraer from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Morgan Stanley reaffirmed an “equal weight” rating and issued a $23.50 price objective (down previously from $24.50) on shares of Embraer in a report on Thursday, January 17th. Zacks Investment Research cut shares of Embraer from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Cowen reaffirmed a “hold” rating and issued a $24.00 price objective on shares of Embraer in a report on Thursday, January 17th. Finally, Credit Suisse Group cut shares of Embraer from an “outperform” rating to a “neutral” rating in a report on Tuesday, January 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. Embraer has an average rating of “Hold” and an average price target of $26.75.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its stake in Embraer by 5.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 9,561 shares of the aerospace company’s stock valued at $213,000 after acquiring an additional 534 shares during the period. Quadrant Capital Group LLC raised its position in shares of Embraer by 36.0% in the 1st quarter. Quadrant Capital Group LLC now owns 2,508 shares of the aerospace company’s stock worth $46,000 after acquiring an additional 664 shares in the last quarter. Raymond James & Associates increased its position in Embraer by 7.5% during the 1st quarter. Raymond James & Associates now owns 13,409 shares of the aerospace company’s stock valued at $255,000 after buying an additional 933 shares in the last quarter. Great West Life Assurance Co. Can increased its position in Embraer by 9.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 13,494 shares of the aerospace company’s stock valued at $256,000 after buying an additional 1,137 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in Embraer by 3.0% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 40,700 shares of the aerospace company’s stock valued at $774,000 after buying an additional 1,200 shares in the last quarter. Institutional investors own 45.70% of the company’s stock.
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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