Analysts expect Fly Leasing Ltd (NYSE:FLY) to post $100.53 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Fly Leasing’s earnings, with estimates ranging from $100.16 million to $100.90 million. Fly Leasing reported sales of $86.22 million in the same quarter last year, which would suggest a positive year over year growth rate of 16.6%. The company is scheduled to announce its next earnings report before the market opens on Thursday, November 8th.
On average, analysts expect that Fly Leasing will report full-year sales of $403.13 million for the current year, with estimates ranging from $399.81 million to $406.10 million. For the next financial year, analysts anticipate that the business will post sales of $453.50 million, with estimates ranging from $435.37 million to $475.60 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Fly Leasing.
Fly Leasing (NYSE:FLY) last announced its quarterly earnings data on Thursday, August 23rd. The transportation company reported $0.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.18. Fly Leasing had a net margin of 7.43% and a return on equity of 5.79%. The company had revenue of $99.30 million for the quarter, compared to the consensus estimate of $98.62 million. During the same period in the prior year, the firm posted $0.31 EPS. Fly Leasing’s revenue for the quarter was up 25.4% on a year-over-year basis.
FLY has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Fly Leasing from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research report on Friday, August 24th. TheStreet raised shares of Fly Leasing from a “d+” rating to a “c-” rating in a report on Wednesday, September 19th. Citigroup raised their price target on shares of Fly Leasing from $14.00 to $14.50 and gave the company a “sell” rating in a report on Friday, August 24th. Finally, ValuEngine downgraded shares of Fly Leasing from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. Fly Leasing presently has a consensus rating of “Hold” and a consensus target price of $18.63.
FLY stock traded down $0.19 during trading on Thursday, hitting $13.15. 46,666 shares of the stock traded hands, compared to its average volume of 106,784. Fly Leasing has a 1 year low of $11.54 and a 1 year high of $15.32. The company has a market capitalization of $381.97 million, a price-to-earnings ratio of 146.11, a price-to-earnings-growth ratio of 0.58 and a beta of 1.01. The company has a debt-to-equity ratio of 4.29, a quick ratio of 1.33 and a current ratio of 1.33.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Cozad Asset Management Inc. purchased a new stake in shares of Fly Leasing during the 2nd quarter valued at about $316,000. Campbell & CO Investment Adviser LLC boosted its holdings in shares of Fly Leasing by 67.2% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 22,467 shares of the transportation company’s stock valued at $317,000 after acquiring an additional 9,028 shares during the last quarter. Mount Yale Investment Advisors LLC purchased a new stake in shares of Fly Leasing during the 2nd quarter valued at about $344,000. Citadel Advisors LLC boosted its holdings in shares of Fly Leasing by 27.0% during the 2nd quarter. Citadel Advisors LLC now owns 25,715 shares of the transportation company’s stock valued at $363,000 after acquiring an additional 5,468 shares during the last quarter. Finally, Bank of Montreal Can purchased a new stake in shares of Fly Leasing during the 2nd quarter valued at about $592,000. 49.12% of the stock is currently owned by hedge funds and other institutional investors.
Fly Leasing Company Profile
Fly Leasing Limited, through its subsidiaries, purchases and leases commercial aircrafts under multi-year contracts to various airlines worldwide. As of December 31, 2017, the company had a portfolio of 85 aircrafts, including 73 narrow-body passenger aircrafts and 12 wide-body passenger aircrafts. Fly Leasing Limited was founded in 2007 and is headquartered in Dún Laoghaire, Ireland.
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