$104.22 Million in Sales Expected for Fly Leasing Limited (FLY) This Quarter

Brokerages expect Fly Leasing Limited (NYSE:FLY) to report sales of $104.22 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Fly Leasing Limited’s earnings. The highest sales estimate is $108.87 million and the lowest is $97.09 million. Fly Leasing Limited reported sales of $100.60 million in the same quarter last year, which would suggest a positive year over year growth rate of 3.6%. The business is expected to report its next quarterly earnings report on Thursday, March 8th.

On average, analysts expect that Fly Leasing Limited will report full-year sales of $104.22 million for the current fiscal year, with estimates ranging from $346.53 million to $354.19 million. For the next year, analysts anticipate that the company will report sales of $394.31 million per share, with estimates ranging from $382.40 million to $409.92 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Fly Leasing Limited.

A number of brokerages have commented on FLY. Cowen and Company reiterated a “buy” rating and issued a $16.00 price target on shares of Fly Leasing Limited in a research note on Tuesday, September 19th. ValuEngine cut shares of Fly Leasing Limited from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Compass Point reiterated a “buy” rating and issued a $19.00 price target (up previously from $17.00) on shares of Fly Leasing Limited in a research note on Tuesday, October 3rd. BidaskClub cut shares of Fly Leasing Limited from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Finally, Zacks Investment Research cut shares of Fly Leasing Limited from a “hold” rating to a “strong sell” rating in a research note on Monday, November 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $17.60.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Uniplan Investment Counsel Inc. lifted its stake in shares of Fly Leasing Limited by 6.5% during the 3rd quarter. Uniplan Investment Counsel Inc. now owns 545,990 shares of the transportation company’s stock worth $7,654,000 after buying an additional 33,231 shares during the last quarter. Gabelli Funds LLC lifted its stake in shares of Fly Leasing Limited by 4.7% during the 3rd quarter. Gabelli Funds LLC now owns 319,301 shares of the transportation company’s stock worth $4,477,000 after buying an additional 14,301 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Fly Leasing Limited by 2.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 292,338 shares of the transportation company’s stock worth $4,099,000 after buying an additional 8,190 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Fly Leasing Limited by 44.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 247,957 shares of the transportation company’s stock worth $3,335,000 after buying an additional 75,926 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Fly Leasing Limited by 630.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 194,005 shares of the transportation company’s stock worth $2,609,000 after buying an additional 167,430 shares during the last quarter. Institutional investors own 44.66% of the company’s stock.

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Shares of Fly Leasing Limited (NYSE:FLY) traded up $0.15 during mid-day trading on Friday, reaching $13.45. 60,630 shares of the company’s stock were exchanged, compared to its average volume of 92,966. The firm has a market capitalization of $385.98, a PE ratio of 11.50, a P/E/G ratio of 2.57 and a beta of 1.10. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 4.74. Fly Leasing Limited has a 12-month low of $11.91 and a 12-month high of $14.65.

Fly Leasing Limited Company Profile

Fly Leasing Limited is engaged in purchasing commercial aircraft, which it leases under multi-year contracts to a range of airlines throughout the world. The Company primarily acquires aircraft by entering into purchase and leaseback transactions with airlines for new aircraft; purchasing portfolios, which consists of aircraft of various types and ages, and acquiring individual aircraft.

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