Embraer SA (ADR) (ERJ) reported quarterly earnings results on Friday, Jul-29-2016. The company said it had a profit of $0.24 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $0.18. The company posted revenue of $1366.40 million in the period, compared to analysts expectations of $1444.55 million. The company’s revenue was down -9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 EPS.
Many Wall Street Analysts have commented on Embraer SA (ADR). Embraer SA (ADR) was Upgraded by BofA/Merrill to ” Buy” on Jun 16, 2016. Shares were Reiterated by RBC Capital Mkts on May 2, 2016 to “Sector Perform” and Lowered the Price Target to $ 28 from a previous price target of $30 .
Embraer SA (ADR) closed down -0.22 points or -1.03% at $21.2 with 15,25,728 shares getting traded on Thursday. Post opening the session at $21.43, the shares hit an intraday low of $21.11 and an intraday high of $21.49 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
Embraer S.A. (Embraer) produces aircraft for commercial and executive aviation and for defense and security purposes. The Company operates through four segments: Commercial aviation business Defense and security business Executive Jets business and Other. The Commercial Aviation business involves the development production and sale of commercial jets and rendering of support services. The Defense and security business operations mainly involve research development production modification and support for military defense and security aircraft as well as a range of products and integrated solutions. The Executive Aviation market operations are constituted by development production and sale of executive jets as well as by providing support services and aircraft operational leasing. The Other segment supplies structural parts and mechanical and hydraulic systems and produces agricultural crop-spraying aircraft.