J P Morgan Chase & Co Lowers Embraer-Empresa Brasileira de Aeronautica (ERJ) to Neutral

J P Morgan Chase & Co downgraded shares of Embraer-Empresa Brasileira de Aeronautica (NYSE:ERJ) from an overweight rating to a neutral rating in a research report report published on Tuesday morning, Marketbeat.com reports. The brokerage currently has $21.00 target price on the aerospace company’s stock.

ERJ has been the topic of several other reports. Credit Suisse Group upgraded shares of Embraer-Empresa Brasileira de Aeronautica from a neutral rating to an outperform rating in a research note on Thursday, October 26th. Cowen and Company reaffirmed a hold rating and set a $22.00 target price on shares of Embraer-Empresa Brasileira de Aeronautica in a report on Monday. Scotiabank downgraded shares of Embraer-Empresa Brasileira de Aeronautica from an outperform rating to a sector perform rating in a report on Tuesday, October 17th. ValuEngine downgraded shares of Embraer-Empresa Brasileira de Aeronautica from a strong-buy rating to a buy rating in a report on Friday, September 1st. Finally, BidaskClub raised shares of Embraer-Empresa Brasileira de Aeronautica from a hold rating to a buy rating in a report on Wednesday, August 9th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Embraer-Empresa Brasileira de Aeronautica currently has a consensus rating of Hold and a consensus target price of $21.57.

Shares of Embraer-Empresa Brasileira de Aeronautica (ERJ) traded up $0.77 during midday trading on Tuesday, hitting $19.86. The company had a trading volume of 3,907,331 shares, compared to its average volume of 2,298,862. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of 8.17, a PEG ratio of 0.63 and a beta of 0.34. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.64 and a current ratio of 2.67.

Embraer-Empresa Brasileira de Aeronautica (NYSE:ERJ) last released its quarterly earnings data on Friday, October 27th. The aerospace company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.11. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.34 billion. Embraer-Empresa Brasileira de Aeronautica had a net margin of 6.63% and a return on equity of 10.65%. research analysts predict that Embraer-Empresa Brasileira de Aeronautica will post 1.81 earnings per share for the current fiscal year.

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The business also recently announced a special dividend, which was paid on Monday, October 16th. Investors of record on Wednesday, September 20th were issued a dividend of $0.0516 per share. This is an increase from Embraer-Empresa Brasileira de Aeronautica’s previous special dividend of $0.05. The ex-dividend date was Tuesday, September 19th. Embraer-Empresa Brasileira de Aeronautica’s payout ratio is presently 11.31%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. JFS Wealth Advisors LLC boosted its holdings in Embraer-Empresa Brasileira de Aeronautica by 7.6% in the 2nd quarter. JFS Wealth Advisors LLC now owns 6,659 shares of the aerospace company’s stock valued at $121,000 after purchasing an additional 470 shares during the period. Global X Management Co. LLC boosted its holdings in Embraer-Empresa Brasileira de Aeronautica by 2.3% in the 2nd quarter. Global X Management Co. LLC now owns 7,521 shares of the aerospace company’s stock valued at $137,000 after purchasing an additional 169 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Embraer-Empresa Brasileira de Aeronautica by 1.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,067 shares of the aerospace company’s stock valued at $199,000 after purchasing an additional 152 shares during the period. Driehaus Capital Management LLC bought a new stake in Embraer-Empresa Brasileira de Aeronautica in the 1st quarter valued at about $211,000. Finally, Seminole Management Co. Inc. bought a new stake in Embraer-Empresa Brasileira de Aeronautica in the 2nd quarter valued at about $182,000. 50.65% of the stock is owned by hedge funds and other institutional investors.

Embraer-Empresa Brasileira de Aeronautica Company Profile

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