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Embraer (ERJ) Soars 14.8%: Is Further Upside Left in the Stock?
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Embraer (ERJ - Free Report) shares soared 14.8% in the last trading session to close at $45.76. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 5% gain over the past four weeks.
Embraer recently announced that Flexjet has placed an order, worth $7 billion, for purchasing a fleet of Embraer’s business jets, including the Praetor 600, Praetor 500 and Phenom 300E models, as well as an enhanced suite of services and support. This contract win, reflecting the solid demand that Embraer’s business jet enjoys, must have boosted investors’ confidence in ERJ, thereby resulting in the latest uptick in its share price.
This plane and jet manufacturer is expected to post quarterly earnings of $0.49 per share in its upcoming report, which represents a year-over-year change of +16.7%. Revenues are expected to be $2.19 billion, up 10.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Embraer, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ERJ going forward to see if this recent jump can turn into more strength down the road.
Embraer is a member of the Zacks Aerospace - Defense industry. One other stock in the same industry, Intuitive Machines, Inc. (LUNR - Free Report) , finished the last trading session 9.1% lower at $19.62. LUNR has returned 8.6% over the past month.
Intuitive Machines, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.08. Compared to the company's year-ago EPS, this represents a change of +27.3%. Intuitive Machines, Inc. currently boasts a Zacks Rank of #3 (Hold).
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Embraer (ERJ) Soars 14.8%: Is Further Upside Left in the Stock?
Embraer (ERJ - Free Report) shares soared 14.8% in the last trading session to close at $45.76. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 5% gain over the past four weeks.
Embraer recently announced that Flexjet has placed an order, worth $7 billion, for purchasing a fleet of Embraer’s business jets, including the Praetor 600, Praetor 500 and Phenom 300E models, as well as an enhanced suite of services and support. This contract win, reflecting the solid demand that Embraer’s business jet enjoys, must have boosted investors’ confidence in ERJ, thereby resulting in the latest uptick in its share price.
This plane and jet manufacturer is expected to post quarterly earnings of $0.49 per share in its upcoming report, which represents a year-over-year change of +16.7%. Revenues are expected to be $2.19 billion, up 10.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Embraer, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ERJ going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Embraer is a member of the Zacks Aerospace - Defense industry. One other stock in the same industry, Intuitive Machines, Inc. (LUNR - Free Report) , finished the last trading session 9.1% lower at $19.62. LUNR has returned 8.6% over the past month.
Intuitive Machines, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.08. Compared to the company's year-ago EPS, this represents a change of +27.3%. Intuitive Machines, Inc. currently boasts a Zacks Rank of #3 (Hold).