Embraer (NYSE:ERJ) Shares Up 5.8% on Earnings Beat

Embraer S.A. (NYSE:ERJ) shares shot up 5.8% during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $45.38 and last traded at $45.36. 751,455 shares changed hands during trading, a decline of 39% from the average session volume of 1,236,136 shares. The stock had previously closed at $42.89.

The aerospace company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.47. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.21 billion. Embraer had a net margin of 8.24% and a return on equity of 11.61%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. TD Cowen upgraded shares of Embraer to a “strong-buy” rating in a report on Thursday, December 19th. Bank of America boosted their target price on shares of Embraer from $40.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, November 21st. StockNews.com lowered shares of Embraer from a “buy” rating to a “hold” rating in a report on Saturday, February 22nd. Finally, UBS Group lowered shares of Embraer from a “neutral” rating to a “sell” rating and boosted their target price for the company from $29.00 to $32.00 in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Embraer currently has an average rating of “Moderate Buy” and a consensus price target of $40.50.

Hedge Funds Weigh In On Embraer

Large investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp acquired a new position in shares of Embraer in the 4th quarter worth approximately $28,000. SPX Gestao de Recursos Ltda acquired a new position in shares of Embraer in the 4th quarter worth approximately $37,000. Colonial Trust Co SC acquired a new position in shares of Embraer in the 4th quarter worth approximately $42,000. Lindbrook Capital LLC lifted its holdings in shares of Embraer by 32.9% in the 4th quarter. Lindbrook Capital LLC now owns 1,572 shares of the aerospace company’s stock worth $58,000 after acquiring an additional 389 shares during the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in shares of Embraer in the 4th quarter worth approximately $71,000. 34.65% of the stock is currently owned by institutional investors and hedge funds.

Embraer Stock Performance

The firm’s fifty day moving average price is $40.25 and its 200 day moving average price is $37.05. The company has a current ratio of 1.56, a quick ratio of 0.76 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $8.74 billion, a price-to-earnings ratio of 17.50 and a beta of 1.71.

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.