Fly Leasing Upgraded by Zacks to Outperform (FLY)
Fly Leasing (NYSE:FLY) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a report issued on Tuesday, Analyst Ratings Net reports. The firm currently has a $17.60 price target on the stock. Zacks‘ price target would suggest a potential upside of 7.45% from the stock’s previous close.
Shares of Fly Leasing (NYSE:FLY) traded up 0.46% on Tuesday, hitting $16.455. 286,986 shares of the company’s stock traded hands. Fly Leasing has a one year low of $12.62 and a one year high of $17.37. The stock’s 50-day moving average is $15.75 and its 200-day moving average is $14.58. The company has a market cap of $679.7 million and a P/E ratio of 7.26.
Fly Leasing (NYSE:FLY) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by $0.03. The company had revenue of $79.12 million for the quarter, compared to the consensus estimate of $79.80 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. On average, analysts predict that Fly Leasing will post $1.45 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, February 20th. Stockholders of record on Friday, January 31st will be paid a dividend of 0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.11%. The ex-dividend date is Wednesday, January 29th.
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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