Becker Capital Management, Inc. recently announced the acquisition of new stake in Embraer S.A. (NYSE:ERJ). The institutional investor has increased its shareholding in the Industrials company by 0.69% to 3.39 million shares with purchase of 23401.0 shares. This fresh investment now brings its stake to 1.83% valued currently at $43.09 million. In addition, Millennium Management LLC raised its holdings by 1.5 million to 3.25 million shares.
With over 5.73 million Embraer S.A. (ERJ) shares trading Friday and a closing price of $14.42 on the day, the dollar volume was approximately $82.63 million. The shares have shown a positive half year performance of 39.32% and its price on 03/10/23 gained nearly 4.27%. Currently, there are 183.66M common shares owned by the public and among those 175.18M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 12 analysts who have offered their price forecasts for ERJ have a consensus price objective of $17.59. The analysts have set the share’s price value over the next 12 months at a high of $28.50 and a low of $4.36. The average price target is 24.03% above its recent price level and a downside to the estimated low will see the stock lose -230.73% over that period. But an upside of 49.4% will see the stock hit the forecast high price target while median target price for the stock is $17.50.
The top 3 mutual fund holders in Embraer S.A. are Brandes Emerging Markets Value Fu, Fidelity Series Large Cap Stock F, and American Century Emerging Markets. Brandes Emerging Markets Value Fu owns 1.99 million shares of the company’s stock, all valued at over $25.31 million. American Century Emerging Markets now owns shares totaling to 0.84% of the shares outstanding.
Shares of Embraer S.A. (NYSE: ERJ) opened at $14.66, up $0.83 from a prior closing price of $13.83. However, the script later moved the day high at 15.03, up 4.27%. The company’s stock has a 5-day price change of 4.87% and 38.92% over the past three months. ERJ shares are trading 31.93% year to date (YTD), with the 12-month market performance up to 8.75% higher. It has a 12-month low price of $7.91 and touched a high of $14.21 over the same period. ERJ has an average intraday trading volume of 1.35 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 11.86%, 15.81%, and 36.14% respectively.
Institutional ownership of Embraer S.A. (NYSE: ERJ) shares accounts for 38.90% of the company’s 183.66M shares outstanding. Mutual fund holders own 10.08%, while other institutional holders and individual stakeholders account for 28.75% and — respectively.
It has a market capitalization of $2.58B and a beta (3y monthly) value of 1.23. The earnings-per-share (ttm) stands at -$1.12. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.59% over the week and 2.74% over the month.
Analysts forecast that Embraer S.A. (ERJ) will achieve an EPS of $0.39 for the current quarter, -$0.22 for the next quarter and $0.67 for 2023. The lowest estimate earnings-per-share for the quarter is $0.3 while analysts give the company a high EPS estimate of $0.49. Comparatively, EPS for the current quarter was $0.32 a year ago. Earnings per share for the fiscal year are expected to increase by 406.20%, and 36.70% over the next financial year. EPS should grow at an annualized rate of 17.00% over the next five years, compared to -12.62% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 12 brokerage firm advisors rate Embraer S.A. (ERJ) as a “Moderate Buy” at a consensus score of 2.10. Specifically, 10 Wall Street analysts polled rate the stock as a buy, while 2 of the 12 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ERJ, a number of firms have released research notes about the stock. UBS stated their Buy rating for the stock in a research note on January 09, 2023, with the firm’s price target at $14. Wolfe Research coverage for the Embraer S.A. (ERJ) stock in a research note released on October 11, 2022 offered a Outperform rating with a price target of $14. Morgan Stanley was of a view on January 20, 2022 that the stock is Overweight, while UBS gave the stock Buy rating on November 11, 2021, issuing a price target of $16- $24. Goldman on their part issued Buy rating on September 23, 2021.
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