Fly Leasing Ltd (NYSE:FLY) has been assigned a consensus rating of “Hold” from the eight analysts that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $16.17.
Several research analysts have recently weighed in on the company. ValuEngine upgraded Fly Leasing from a “buy” rating to a “strong-buy” rating in a report on Friday, October 6th. Compass Point restated a “buy” rating and set a $19.00 target price (up from $17.00) on shares of Fly Leasing in a report on Tuesday, October 3rd. Citigroup assumed coverage on Fly Leasing in a report on Friday, December 8th. They set a “sell” rating and a $13.50 target price on the stock. Finally, Zacks Investment Research cut Fly Leasing from a “hold” rating to a “strong sell” rating in a report on Monday, November 13th.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. acquired a new position in Fly Leasing in the third quarter valued at approximately $102,000. Parametric Portfolio Associates LLC lifted its holdings in Fly Leasing by 8.2% in the second quarter. Parametric Portfolio Associates LLC now owns 18,818 shares of the transportation company’s stock valued at $253,000 after acquiring an additional 1,424 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in Fly Leasing by 27.1% in the third quarter. Allianz Asset Management GmbH now owns 22,481 shares of the transportation company’s stock valued at $315,000 after acquiring an additional 4,798 shares during the last quarter. Citadel Advisors LLC lifted its holdings in Fly Leasing by 191.1% in the second quarter. Citadel Advisors LLC now owns 29,401 shares of the transportation company’s stock valued at $395,000 after acquiring an additional 19,301 shares during the last quarter. Finally, Monarch Partners Asset Management LLC acquired a new position in Fly Leasing in the third quarter valued at approximately $479,000. Hedge funds and other institutional investors own 45.34% of the company’s stock.
Shares of Fly Leasing (NYSE FLY) traded up $0.02 during trading on Friday, hitting $13.42. The stock had a trading volume of 13,166 shares, compared to its average volume of 127,489. The firm has a market cap of $384.55, a PE ratio of 11.45, a P/E/G ratio of 0.68 and a beta of 1.07. Fly Leasing has a fifty-two week low of $11.91 and a fifty-two week high of $14.65. 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 (NYSE:FLY) last issued its earnings results on Thursday, November 9th. The transportation company reported ($0.43) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.81). The company had revenue of $86.22 million for the quarter, compared to analyst estimates of $89.36 million. Fly Leasing had a positive return on equity of 6.72% and a negative net margin of 19.77%. research analysts forecast that Fly Leasing will post 0.17 earnings per share for the current fiscal year.
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About Fly Leasing
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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