Fly Leasing Rating Lowered to Underperform at Zacks (FLY)
Fly Leasing (NYSE:FLY) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research report issued on Monday, AnalystRatings.NET reports. They currently have a $13.70 price objective on the stock. Zacks‘ target price points to a potential downside of 4.79% from the company’s current price.
Fly Leasing (NYSE:FLY) traded down 0.03% during mid-day trading on Monday, hitting $14.386. 99,798 shares of the company’s stock traded hands. Fly Leasing has a 1-year low of $11.06 and a 1-year high of $17.37. The stock has a 50-day moving average of $13.79 and a 200-day moving average of $14.9. The company has a market cap of $405.2 million and a price-to-earnings ratio of 10.01.
Fly Leasing (NYSE:FLY) last announced its earnings results on Thursday, August 1st. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by $0.11. The company had revenue of $98.54 million for the quarter, compared to the consensus estimate of $93.49 million. During the same quarter in the previous year, the company posted $1.19 earnings per share. The company’s revenue for the quarter was down 18.4% on a year-over-year basis. On average, analysts predict that Fly Leasing will post $1.47 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, November 19th. Investors of record on Wednesday, October 30th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 6.12%. The ex-dividend date is Monday, October 28th.
Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital initiated coverage on shares of Fly Leasing in a research note to investors on Friday, August 16th. They set an “outperform” rating and a $18.00 price target on the stock. Analysts at Wells Fargo & Co. downgraded shares of Fly Leasing from an “outperform” rating to a “market perform” rating in a research note to investors on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. Fly Leasing has a consensus rating of “Hold” and a consensus target price of $14.93.
Fly Leasing Limited, formerly Babcock & Brown Air Limited (NYSE:FLY), is a global lessor of modern, fuel-efficient commercial jet aircraft.
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