Bombardier (OTCMKTS:BDRBF) Stock Price Crosses Above 50 Day Moving Average - What's Next?

Key Points

• Bombardier shares crossed above their 50-day moving average, reaching $236.13 before closing at $229.70, compared with a 50-day average of $224.16.
• Analysts maintain a generally positive outlook, with an average rating of “Moderate Buy” and a consensus price target of $263.00. Ratings include one Strong Buy, five Buys, three Holds and one Sell.
• Bombardier’s latest quarterly results exceeded expectations, with EPS of $2.50 versus the $1.32 consensus and revenue of $2.15 billion versus estimates of $2.12 billion.

Bombardier Inc. (OTCMKTS:BDRBF - Get Free Report)'s share price crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $224.16 and traded as high as $236.13. Bombardier shares last traded at $229.70, with a volume of 122,289 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BDRBF shares. TD Securities restated a "hold" rating on shares of Bombardier in a report on Friday, July 31st. Scotiabank reiterated an "outperform" rating on shares of Bombardier in a research report on Thursday, October 15th. BMO Capital Markets restated an "outperform" rating on shares of Bombardier in a research note on Friday, July 31st. Zacks Research raised Bombardier from a "hold" rating to a "strong-buy" rating in a report on Monday, October 5th. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of Bombardier in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $263.00.

Bombardier Stock Down 2.7%

The firm has a market cap of $22.78 billion and a PE ratio of 25.21. The stock has a 50 day moving average price of $224.16 and a two-hundred day moving average price of $221.17.

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

Institutional Investors Weigh In On Bombardier

A hedge fund recently bought a new position in Bombardier stock. Sageworth Trust Co acquired a new stake in Bombardier Inc. (OTCMKTS:BDRBF - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 the design, manufacture and support of business aircraft. Its portfolio includes the Challenger family of super-midsize and large-cabin jets and the Global family of long-range business jets. The company also provides aircraft maintenance, refurbishment, parts, training and other aftermarket services through its worldwide support network.

Founded in 1942 by Joseph-Armand Bombardier, the company originally developed snowmobiles before expanding into transportation and aerospace.

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