Brokers Offer Predictions for Embraer S.A.’s Q3 2023 Earnings (NYSE:ERJ)

Embraer S.A. (NYSE:ERJ) – Stock analysts at Zacks Research dropped their Q3 2023 earnings per share (EPS) estimates for shares of Embraer in a research report issued to clients and investors on Wednesday, September 13th. Zacks Research analyst S. Kedia now expects that the aerospace company will post earnings of $0.37 per share for the quarter, down from their previous forecast of $0.43. The consensus estimate for Embraer’s current full-year earnings is $1.03 per share. Zacks Research also issued estimates for Embraer’s Q1 2024 earnings at $0.29 EPS, Q2 2024 earnings at $0.44 EPS, Q3 2024 earnings at $0.40 EPS and FY2025 earnings at $2.04 EPS.

ERJ has been the topic of several other reports. StockNews.com raised Embraer from a “sell” rating to a “hold” rating in a research note on Thursday, August 24th. Citigroup lifted their price objective on Embraer from $15.75 to $16.50 in a research note on Tuesday, June 13th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Embraer currently has an average rating of “Moderate Buy” and a consensus target price of $19.17.

Embraer Stock Performance

NYSE ERJ opened at $14.58 on Thursday. The firm has a market capitalization of $2.68 billion, a P/E ratio of -27.50, a P/E/G ratio of 0.85 and a beta of 1.31. Embraer has a 1-year low of $8.52 and a 1-year high of $17.14. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.52 and a quick ratio of 0.81. The business’s 50-day simple moving average is $15.07 and its 200-day simple moving average is $15.09.

Embraer (NYSE:ERJ) last released its quarterly earnings data on Monday, August 14th. The aerospace company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.20. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.16 billion. Embraer had a positive return on equity of 1.32% and a negative net margin of 1.97%.

Hedge Funds Weigh In On Embraer

Several hedge funds and other institutional investors have recently bought and sold shares of ERJ. Brandes Investment Partners LP raised its position in shares of Embraer by 17.6% in the 1st quarter. Brandes Investment Partners LP now owns 18,484,175 shares of the aerospace company’s stock valued at $302,586,000 after purchasing an additional 2,764,894 shares in the last quarter. FMR LLC raised its position in shares of Embraer by 1.9% in the 1st quarter. FMR LLC now owns 3,935,642 shares of the aerospace company’s stock valued at $64,426,000 after purchasing an additional 72,348 shares in the last quarter. Becker Capital Management Inc. raised its position in shares of Embraer by 0.7% in the 4th quarter. Becker Capital Management Inc. now owns 3,392,616 shares of the aerospace company’s stock valued at $37,081,000 after purchasing an additional 23,401 shares in the last quarter. American Century Companies Inc. raised its position in shares of Embraer by 36.2% in the 1st quarter. American Century Companies Inc. now owns 3,238,946 shares of the aerospace company’s stock valued at $53,022,000 after purchasing an additional 860,318 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Embraer by 148.1% in the 1st quarter. Renaissance Technologies LLC now owns 2,869,400 shares of the aerospace company’s stock valued at $36,183,000 after purchasing an additional 1,712,800 shares in the last quarter. 34.65% of the stock is owned by institutional investors and hedge funds.

Embraer Company Profile

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.