Aircastle Limited (NYSE:AYR) declared a quarterly dividend on Friday, February 9th, Zacks reports. Investors of record on Wednesday, February 28th will be paid a dividend of 0.28 per share by the transportation company on Thursday, March 15th. This represents a $1.12 annualized dividend and a yield of 5.53%. The ex-dividend date of this dividend is Tuesday, February 27th.
Aircastle has raised its dividend by an average of 8.9% annually over the last three years and has raised its dividend every year for the last 7 years. Aircastle has a dividend payout ratio of 64.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Aircastle to earn $2.40 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 46.7%.
Shares of Aircastle (NYSE:AYR) traded down $0.06 during trading on Thursday, reaching $20.27. 43,084 shares of the company traded hands, compared to its average volume of 287,334. The company has a market cap of $1,584.55, a P/E ratio of 10.81, a P/E/G ratio of 0.98 and a beta of 1.77. Aircastle has a one year low of $19.75 and a one year high of $25.30.
Aircastle (NYSE:AYR) last issued its earnings results on Tuesday, February 13th. The transportation company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The company had revenue of $177.40 million during the quarter, compared to the consensus estimate of $184.09 million. Aircastle had a net margin of 18.56% and a return on equity of 8.41%. Aircastle’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.90 EPS. equities research analysts expect that Aircastle will post 2.05 EPS for the current year.
Several brokerages recently weighed in on AYR. Royal Bank of Canada reaffirmed a “hold” rating on shares of Aircastle in a report on Wednesday, February 14th. Stephens raised shares of Aircastle from an “underweight” rating to an “equal” rating and set a $24.00 price objective for the company in a report on Wednesday, February 14th. They noted that the move was a valuation call. Cowen reissued a “market perform” rating and set a $24.00 price objective (down previously from $26.00) on shares of Aircastle in a report on Tuesday, February 13th. Zacks Investment Research downgraded shares of Aircastle from a “hold” rating to a “strong sell” rating in a report on Friday, February 16th. Finally, Citigroup initiated coverage on shares of Aircastle in a report on Friday, December 8th. They set a “neutral” rating and a $25.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $24.80.
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Aircastle Company Profile
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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