Embraer (NYSE:ERJ) Issues Quarterly Earnings Results, Beats Estimates By $0.20 EPS

Embraer (NYSE:ERJ) issued its quarterly earnings data on Thursday. The aerospace company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.20, Briefing.com reports. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.44 billion. Embraer had a return on equity of 5.35% and a net margin of 4.84%. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 earnings per share. Embraer updated its FY 2024 guidance to EPS.

Embraer Trading Up 4.3 %

Shares of ERJ traded up $1.30 during midday trading on Friday, hitting $31.22. 1,956,284 shares of the stock were exchanged, compared to its average volume of 1,712,456. Embraer has a 52-week low of $12.48 and a 52-week high of $31.40. The stock has a fifty day simple moving average of $28.29 and a 200 day simple moving average of $25.11. The firm has a market cap of $5.73 billion, a P/E ratio of 21.49 and a beta of 1.71. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.71 and a current ratio of 1.51.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ERJ shares. StockNews.com lowered Embraer from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. UBS Group increased their price objective on Embraer from $28.50 to $29.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 3rd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Embraer has a consensus rating of “Moderate Buy” and a consensus price target of $29.83.

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.