Embraer SA (NYSE:ERJ) was the recipient of a significant drop in short interest during the month of November. As of November 29th, there was short interest totalling 4,120,000 shares, a drop of 9.1% from the November 14th total of 4,530,000 shares. Based on an average daily volume of 794,200 shares, the short-interest ratio is currently 5.2 days. Approximately 2.2% of the company’s shares are short sold.

NYSE:ERJ traded down $0.01 during mid-day trading on Friday, reaching $18.49. 523,153 shares of the company’s stock traded hands, compared to its average volume of 766,224. The company has a 50 day moving average price of $17.37 and a 200-day moving average price of $18.46. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of -61.63 and a beta of -0.09. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.10 and a quick ratio of 1.14. Embraer has a 12-month low of $15.86 and a 12-month high of $23.68.

Embraer (NYSE:ERJ) last released its quarterly earnings data on Tuesday, November 12th. The aerospace company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.08). The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Embraer had a negative return on equity of 3.36% and a negative net margin of 2.59%. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.03 EPS. As a group, analysts forecast that Embraer will post -0.83 EPS for the current year.

Several research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Embraer from a “strong-buy” rating to a “hold” rating and set a $19.00 target price on the stock. in a research note on Wednesday, October 16th. UBS Group reissued a “buy” rating and set a $21.00 price target (down previously from $23.00) on shares of Embraer in a research report on Thursday, November 14th. Finally, Cowen reissued a “hold” rating and issued a $22.00 price target on shares of Embraer in a report on Tuesday, November 12th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $22.70.

A number of hedge funds have recently made changes to their positions in the stock. Mondrian Investment Partners LTD boosted its position in Embraer by 11.1% during the 2nd quarter. Mondrian Investment Partners LTD now owns 13,900,162 shares of the aerospace company’s stock valued at $279,810,000 after acquiring an additional 1,385,984 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Embraer by 616.9% in the 3rd quarter. Millennium Management LLC now owns 1,338,889 shares of the aerospace company’s stock valued at $23,095,000 after purchasing an additional 1,152,121 shares during the period. Morgan Stanley lifted its stake in shares of Embraer by 2,350.1% in the 2nd quarter. Morgan Stanley now owns 736,954 shares of the aerospace company’s stock valued at $14,835,000 after purchasing an additional 706,876 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Embraer in the 3rd quarter valued at approximately $8,321,000. Finally, Bank of America Corp DE boosted its position in shares of Embraer by 12.8% during the second quarter. Bank of America Corp DE now owns 2,341,427 shares of the aerospace company’s stock valued at $47,134,000 after purchasing an additional 265,031 shares in the last quarter. 44.80% of the stock is owned by institutional investors.

Embraer Company Profile

Embraer SA designs, develops, manufactures, and sells aircraft and systems in Brazil, North America, Latin America, the Asia Pacific, Europe, and internationally. It operates through Commercial Aviation, Defense and Security, Executive Jets, Service & Support, and Other segments. The Commercial Aviation segment develops, produces, and sells commercial jets; and provides support services, as well as leases aircraft.

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