HC Wainwright Has Bearish Estimate for EVE FY2029 Earnings

Key Points

• HC Wainwright has lowered its earnings per share (EPS) estimate for EVE Holding, Inc. for FY2029 to $0.08, down from $0.10, while maintaining a "Buy" rating and an $8.00 price target.
• Cantor Fitzgerald reaffirmed an "overweight" rating for EVE with a price target of $5.00.
• As of the last trading session, EVE's stock closed at $5.99, with a market capitalization of $1.78 billion and a twelve-month trading range of $2.33 to $7.70.

Eve Holding, Inc. (NYSE:EVEX - Free Report) - HC Wainwright reduced their FY2029 earnings per share (EPS) estimates for EVE in a note issued to investors on Thursday, August 7th. HC Wainwright analyst A. Dayal now forecasts that the company will post earnings per share of $0.08 for the year, down from their prior forecast of $0.10. HC Wainwright has a "Buy" rating and a $8.00 price objective on the stock. The consensus estimate for EVE's current full-year earnings is ($0.50) per share.

EVEX has been the topic of a number of other reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $5.00 price target on shares of EVE in a research report on Monday, June 23rd. BTIG Research initiated coverage on EVE in a research report on Tuesday. They set a "neutral" rating on the stock. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $6.67.

EVE Stock Down 1.5%

Shares of NYSE:EVEX traded down $0.09 during trading hours on Friday, hitting $5.91. The company's stock had a trading volume of 258,294 shares, compared to its average volume of 303,578. The company has a debt-to-equity ratio of 11.46, a current ratio of 2.77 and a quick ratio of 2.77. The firm's fifty day moving average price is $6.31 and its 200 day moving average price is $4.82. EVE has a 52 week low of $2.33 and a 52 week high of $7.70. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of -9.38 and a beta of 0.85.

EVE (NYSE:EVEX - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.06).

Institutional Trading of EVE

Several institutional investors have recently made changes to their positions in EVEX. Summit Investment Advisors Inc. boosted its position in shares of EVE by 257.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,345 shares of the company's stock worth $29,000 after purchasing an additional 3,850 shares during the period. Legal & General Group Plc boosted its position in shares of EVE by 118.0% during the 4th quarter. Legal & General Group Plc now owns 5,545 shares of the company's stock worth $30,000 after purchasing an additional 3,001 shares during the period. BNP Paribas Financial Markets purchased a new position in shares of EVE during the 4th quarter worth approximately $34,000. Invesco Ltd. purchased a new position in shares of EVE during the 4th quarter worth approximately $62,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of EVE during the 1st quarter worth approximately $39,000. Hedge funds and other institutional investors own 1.27% of the company's stock.

About EVE

Eve Holding, Inc is a special purpose acquisition company focused on the aviation sector. The company was founded on 7th August, 2020 and is headquartered in Melbourne, FL.