Bombardier (OTCMKTS:BDRBF) Shares Gap Down - Here's What Happened

Key Points

• Bombardier shares initially gapped down from a prior close of $217.50 to $210.01, but later traded at $219.10, up 2.1% on low volume.
• Analyst sentiment remains mixed, with four Buy, five Hold, and one Sell rating; the consensus rating is Hold with an average price target of $263.00.
• Bombardier exceeded quarterly expectations, reporting $2.50 in earnings per share versus the $1.32 estimate and revenue of $2.15 billion versus $2.12 billion expected.

Bombardier Inc. (OTCMKTS:BDRBF - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $217.50, but opened at $210.01. Bombardier shares last traded at $219.10, with a volume of 281 shares.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Royal Bank Of Canada reiterated an "outperform" rating on shares of Bombardier in a report on Friday, July 31st. BMO Capital Markets reaffirmed an "outperform" rating on shares of Bombardier in a report on Friday, July 31st. Scotiabank reissued an "outperform" rating on shares of Bombardier in a report on Thursday, July 16th. TD Securities reaffirmed a "hold" rating on shares of Bombardier in a research note on Friday, July 31st. Finally, National Bank Financial reiterated a "sector perform" rating on shares of Bombardier in a research report on Tuesday, July 7th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $263.00.

Bombardier Trading Up 2.1%

The company has a market capitalization of $22.01 billion and a price-to-earnings ratio of 24.37. The company's 50 day simple moving average is $237.42 and its 200-day simple moving average is $214.52.

Bombardier (OTCMKTS:BDRBF - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $2.50 earnings per share for the quarter, beating analysts' consensus estimates of $1.32 by $1.18. Bombardier had a net margin of 9.74% and a negative return on equity of 75.69%. The business had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.12 billion. Sell-side analysts anticipate that Bombardier Inc. will post 10.15 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Bombardier stock. Sageworth Trust Co acquired a new position in shares of Bombardier Inc. (OTCMKTS:BDRBF - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,327 shares of the company's stock, valued at approximately $234,000.

Bombardier Company Profile

Bombardier Inc is a Canadian aerospace company focused on business aviation. The company designs, manufactures and supports business jets, including its Challenger and Global aircraft families, which serve corporate, charter, government and private customers. Bombardier also provides aircraft maintenance, refurbishment, parts, technical support and other aftermarket services through a global service network.

In addition to business jets, Bombardier develops specialized aircraft solutions for government and defense missions, including aircraft configured for surveillance, transport and other mission requirements.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.