Aircastle (NYSE:AYR) posted its earnings results on Tuesday. The transportation company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14, Bloomberg Earnings reports. The company had revenue of $177.40 million during the quarter, compared to analysts’ expectations of $184.09 million. Aircastle had a net margin of 19.48% and a return on equity of 9.18%. Aircastle’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.90 EPS.
Shares of Aircastle (AYR) traded down $0.25 during trading hours on Tuesday, hitting $21.48. 103,518 shares of the stock traded hands, compared to its average volume of 231,576. The firm has a market cap of $1,695.37, a PE ratio of 10.65, a PEG ratio of 0.90 and a beta of 1.77. Aircastle has a one year low of $20.84 and a one year high of $25.98.
Large investors have recently modified their holdings of the company. California Public Employees Retirement System raised its position in shares of Aircastle by 3.2% in the 3rd quarter. California Public Employees Retirement System now owns 198,820 shares of the transportation company’s stock valued at $4,432,000 after buying an additional 6,220 shares in the last quarter. Dean Investment Associates LLC raised its position in shares of Aircastle by 3.8% in the 3rd quarter. Dean Investment Associates LLC now owns 265,580 shares of the transportation company’s stock valued at $5,920,000 after buying an additional 9,620 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Aircastle by 12.2% in the 2nd quarter. Wells Fargo & Company MN now owns 121,120 shares of the transportation company’s stock valued at $2,635,000 after buying an additional 13,157 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Aircastle in the 3rd quarter valued at approximately $328,000. Finally, First Trust Advisors LP raised its position in shares of Aircastle by 5.1% in the 3rd quarter. First Trust Advisors LP now owns 125,874 shares of the transportation company’s stock valued at $2,806,000 after buying an additional 6,113 shares in the last quarter. Institutional investors own 61.08% of the company’s stock.
Several analysts have weighed in on AYR shares. Citigroup started coverage on shares of Aircastle in a research note on Friday, December 8th. They issued a “neutral” rating and a $25.00 price objective for the company. Credit Suisse Group lifted their price objective on shares of Aircastle from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. Finally, ValuEngine cut shares of Aircastle from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. Aircastle presently has a consensus rating of “Hold” and an average price target of $25.11.
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Aircastle Limited is a holding company. The Company, through its subsidiaries, acquires, leases and sells commercial jet aircrafts to airlines. The Company is engaged in financing and managing commercial flight equipment. The Company manages its aircrafts in the United States, Ireland and Singapore. As of December 31, 2016, the Company owned and managed on behalf of its joint ventures 206 aircrafts leased to 71 lessees located in 36 countries.
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