Cantor Fitzgerald Issues Optimistic Outlook for EVE Earnings

Eve Holding, Inc. (NYSE:EVEX) – Equities research analysts at Cantor Fitzgerald lifted their FY2024 earnings estimates for shares of EVE in a report released on Tuesday, November 5th. Cantor Fitzgerald analyst A. Sheppard now anticipates that the company will post earnings per share of ($0.50) for the year, up from their prior estimate of ($0.52). Cantor Fitzgerald currently has a “Overweight” rating and a $5.00 target price on the stock. The consensus estimate for EVE’s current full-year earnings is ($0.49) per share.

EVE (NYSE:EVEX) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.01. During the same period in the prior year, the firm earned ($0.11) EPS.

Separately, HC Wainwright assumed coverage on shares of EVE in a research report on Tuesday, September 3rd. They set a “buy” rating and a $6.00 target price for the company.

EVE Stock Performance

Shares of EVE stock opened at $2.97 on Friday. The stock has a market cap of $861.72 million, a price-to-earnings ratio of -6.19 and a beta of 0.37. EVE has a twelve month low of $2.33 and a twelve month high of $7.57. The company’s fifty day moving average is $3.10 and its 200 day moving average is $3.72. The company has a quick ratio of 3.87, a current ratio of 5.21 and a debt-to-equity ratio of 0.42.

Hedge Funds Weigh In On EVE

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of EVE in the 3rd quarter worth about $35,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in EVE during the 3rd quarter worth approximately $40,000. Blair William & Co. IL purchased a new stake in shares of EVE in the second quarter worth approximately $190,000. Finally, Vanguard Group Inc. lifted its holdings in shares of EVE by 7.1% in the first quarter. Vanguard Group Inc. now owns 517,707 shares of the company’s stock valued at $2,796,000 after purchasing an additional 34,484 shares in the last quarter. 1.27% of the stock is owned by institutional investors and hedge funds.

About EVE

Eve Holding, Inc, together with its subsidiaries, develops urban air mobility solutions. It is involved in the design and production of electrical vertical take-off and landing vehicles (eVTOLs); provision of eVTOL service and support capabilities, including material services, maintenance, technical support, training, ground handling, and data services; and development of urban air traffic management systems.