Embraer (ERJ) Releases Earnings Results, Misses Estimates By $0.02 EPS

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Embraer (NYSE:ERJ) released its quarterly earnings results on Wednesday. The aerospace company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02), MarketWatch Earnings reports. The business had revenue of $823.30 million for the quarter, compared to analysts’ expectations of $1.03 billion. Embraer had a negative return on equity of 2.30% and a negative net margin of 4.25%. The business’s revenue for the quarter was down 14.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.13) earnings per share.

ERJ traded up $0.54 during mid-day trading on Friday, hitting $17.69. 2,345,597 shares of the stock were exchanged, compared to its average volume of 890,005. Embraer has a 1-year low of $16.81 and a 1-year high of $27.70. The company has a current ratio of 2.33, a quick ratio of 1.51 and a debt-to-equity ratio of 0.88. The firm has a market cap of $3.31 billion, a price-to-earnings ratio of -58.97 and a beta of -0.25.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised its position 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 purchasing an additional 534 shares in the last quarter. Quadrant Capital Group LLC raised its position in Embraer by 36.0% in the 1st quarter. Quadrant Capital Group LLC now owns 2,508 shares of the aerospace company’s stock valued at $46,000 after purchasing an additional 664 shares in the last quarter. Raymond James & Associates raised its position in Embraer by 7.5% in the 1st quarter. Raymond James & Associates now owns 13,409 shares of the aerospace company’s stock valued at $255,000 after purchasing an additional 933 shares in the last quarter. Great West Life Assurance Co. Can raised its position in Embraer by 9.2% in 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 purchasing an additional 1,137 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in Embraer by 3.0% in 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 purchasing an additional 1,200 shares in the last quarter. 45.70% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have recently weighed in on ERJ. Zacks Investment Research cut Embraer from a “buy” rating to a “hold” rating in a report on Friday, May 10th. ValuEngine upgraded Embraer from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Morgan Stanley reiterated an “equal weight” rating and set a $23.50 price target (down from $24.50) on shares of Embraer in a report on Thursday, January 17th. Credit Suisse Group cut Embraer from an “outperform” rating to a “neutral” rating in a report on Tuesday, January 22nd. Finally, Cowen reissued a “hold” rating and set a $24.00 target price on shares of Embraer in a research note on Thursday, January 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $26.75.

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About Embraer

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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Earnings History for Embraer (NYSE:ERJ)

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