Analysts forecast that Aircastle Limited (NYSE:AYR) will report earnings of $0.52 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Aircastle’s earnings, with estimates ranging from $0.36 to $0.58. Aircastle posted earnings of $0.03 per share in the same quarter last year, which would suggest a positive year over year growth rate of 1,633.3%. The business is scheduled to issue its next earnings report on Tuesday, August 14th.
On average, analysts expect that Aircastle will report full-year earnings of $2.30 per share for the current financial year, with EPS estimates ranging from $1.68 to $2.55. For the next fiscal year, analysts forecast that the business will report earnings of $2.44 per share, with EPS estimates ranging from $1.92 to $2.70. Zacks’ EPS calculations are a mean average based on a survey of research firms that follow Aircastle.
Aircastle (NYSE:AYR) last announced its quarterly earnings results on Thursday, May 3rd. The transportation company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.29. Aircastle had a return on equity of 9.05% and a net margin of 20.50%. The company had revenue of $202.70 million during the quarter, compared to the consensus estimate of $184.73 million. During the same period in the prior year, the company earned $0.58 earnings per share. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year.
AYR has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their price objective on Aircastle from $25.00 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday, March 6th. ValuEngine raised Aircastle from a “hold” rating to a “buy” rating in a research report on Wednesday, March 14th. Zacks Investment Research raised Aircastle from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 17th. Macquarie initiated coverage on Aircastle in a research report on Tuesday, March 13th. They set an “outperform” rating for the company. They noted that the move was a valuation call. Finally, Deutsche Bank upped their price objective on Aircastle from $23.00 to $24.00 and gave the stock a “hold” rating in a research report on Friday, May 4th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $24.38.
In related news, major shareholder Teachers Pension Plan Ontario sold 7,887,029 shares of the stock in a transaction that occurred on Friday, May 18th. The stock was sold at an average price of $21.23, for a total transaction of $167,441,625.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Xact Kapitalforvaltning AB acquired a new position in Aircastle during the first quarter valued at approximately $357,000. Royal Bank of Canada boosted its position in Aircastle by 12.4% during the first quarter. Royal Bank of Canada now owns 151,831 shares of the transportation company’s stock valued at $3,016,000 after purchasing an additional 16,760 shares during the last quarter. Millennium Management LLC boosted its position in Aircastle by 62.8% during the first quarter. Millennium Management LLC now owns 119,079 shares of the transportation company’s stock valued at $2,365,000 after purchasing an additional 45,913 shares during the last quarter. Bain Capital Credit LP acquired a new position in Aircastle during the first quarter valued at approximately $6,393,000. Finally, Citadel Advisors LLC boosted its position in Aircastle by 183.6% during the first quarter. Citadel Advisors LLC now owns 1,051,289 shares of the transportation company’s stock valued at $20,879,000 after purchasing an additional 680,597 shares during the last quarter. 60.92% of the stock is owned by hedge funds and other institutional investors.
Shares of Aircastle opened at $20.50 on Wednesday, Marketbeat.com reports. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 10.96, a price-to-earnings-growth ratio of 0.95 and a beta of 1.83. Aircastle has a 1 year low of $18.97 and a 1 year high of $25.30.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Thursday, May 31st were given a dividend of $0.28 per share. The ex-dividend date was Wednesday, May 30th. This represents a $1.12 annualized dividend and a dividend yield of 5.46%. Aircastle’s dividend payout ratio is currently 59.89%.
Aircastle Limited, through its subsidiaries, leases, finances, sells, and manages commercial flight equipment to airlines worldwide. The company also invests in other aviation assets. As of December 31, 2017, its aircraft portfolio comprised 236 aircraft leased to 81 lessees located in 43 countries. Aircastle Limited was founded in 2004 and is based in Stamford, Connecticut.
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