Embraer SA (NYSE:ERJ) shares gapped down prior to trading on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $16.41, but opened at $16.45. Embraer shares last traded at $16.45, with a volume of 51,165 shares traded.
The aerospace company reported ($0.26) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.08). Embraer had a negative return on equity of 2.84% and a negative net margin of 1.49%. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the firm posted $0.03 EPS. Embraer’s revenue for the quarter was up 1.4% compared to the same quarter last year.
A number of equities analysts recently issued reports on the company. Cowen restated a “hold” rating and set a $22.00 price objective on shares of Embraer in a report on Tuesday. UBS Group restated a “buy” rating and set a $21.00 price objective (down previously from $23.00) on shares of Embraer in a report on Thursday. William Blair restated a “market perform” rating on shares of Embraer in a report on Wednesday, August 14th. Finally, Zacks Investment Research cut Embraer from a “strong-buy” rating to a “hold” rating and set a $19.00 price objective for the company. in a report on Wednesday, October 16th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $22.70.
The company has a current ratio of 2.17, a quick ratio of 1.24 and a debt-to-equity ratio of 0.85. The stock has a 50-day simple moving average of $17.27 and a two-hundred day simple moving average of $18.72. The firm has a market capitalization of $3.07 billion, a P/E ratio of -55.20 and a beta of -0.10.
Embraer Company Profile (NYSE:ERJ)
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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