Embraer (NYSE:ERJ) Shares Gap Up to $16.06

Shares of Embraer S.A. (NYSE:ERJ) gapped up before the market opened on Thursday . The stock had previously closed at $16.06, but opened at $16.94. Embraer shares last traded at $18.06, with a volume of 21,831 shares changing hands.

A number of equities research analysts have issued reports on ERJ shares. Credit Suisse Group reissued a “sell” rating and issued a $7.10 price target on shares of Embraer in a report on Friday, June 11th. UBS Group raised their price target on shares of Embraer from $9.50 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, July 22nd. Bank of America raised shares of Embraer from a “neutral” rating to a “buy” rating and raised their price target for the stock from $8.00 to $20.00 in a report on Friday, June 11th. The Goldman Sachs Group raised shares of Embraer from a “neutral” rating to a “buy” rating and set a $23.00 price target on the stock in a report on Thursday. Finally, TheStreet raised shares of Embraer from a “d+” rating to a “c” rating in a report on Tuesday, September 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $18.44.

The business’s 50 day moving average price is $15.67 and its two-hundred day moving average price is $13.62. The stock has a market cap of $3.27 billion, a P/E ratio of -25.75 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 1.27 and a debt-to-equity ratio of 1.22.

Embraer (NYSE:ERJ) last announced its earnings results on Friday, August 13th. The aerospace company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.54. The firm had revenue of $11.31 billion for the quarter, compared to analyst estimates of $987.10 million. Embraer had a negative net margin of 2.78% and a negative return on equity of 7.40%. The company’s revenue for the quarter was up 2004.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.08) EPS. As a group, analysts expect that Embraer S.A. will post -0.37 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Marks Group Wealth Management Inc lifted its position in Embraer by 8.0% during the 1st quarter. Marks Group Wealth Management Inc now owns 12,115 shares of the aerospace company’s stock valued at $121,000 after acquiring an additional 895 shares during the period. Nuveen Asset Management LLC lifted its position in Embraer by 6.5% during the 1st quarter. Nuveen Asset Management LLC now owns 14,763 shares of the aerospace company’s stock valued at $148,000 after acquiring an additional 895 shares during the period. Quadrant Capital Group LLC raised its holdings in Embraer by 89.6% in the second quarter. Quadrant Capital Group LLC now owns 2,630 shares of the aerospace company’s stock worth $40,000 after buying an additional 1,243 shares during the last quarter. Waterfront Wealth Inc. raised its holdings in Embraer by 6.1% in the second quarter. Waterfront Wealth Inc. now owns 24,003 shares of the aerospace company’s stock worth $363,000 after buying an additional 1,380 shares during the last quarter. Finally, Hanson & Doremus Investment Management raised its holdings in Embraer by 28.3% in the second quarter. Hanson & Doremus Investment Management now owns 7,490 shares of the aerospace company’s stock worth $33,000 after buying an additional 1,650 shares during the last quarter. 39.23% of the stock is owned by institutional investors.

About Embraer (NYSE:ERJ)

Embraer SA engages in the design, manufacture, and sale of aircraft and its parts for commercial, defense, and executive aviation sectors. It operates through the following segments: Commercial Aviation, Defense and Security, Executive Jet Business, Service & Support and Others. The Commercial Aviation segment is involved in the development, production, and sale of commercial jets; and the provision of support services to regional aviation and aircraft leasing.

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