Fly Leasing Ltd(ADR) Stock Rating Upgraded by Zacks (FLY)
Fly Leasing Ltd(ADR) (NYSE:FLY) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued to investors on Friday. The firm currently has a $15.70 price target on the stock. Zacks‘s price target indicates a potential upside of 6.37% from the stock’s previous close.
Shares of Fly Leasing Lt (NYSE:FLY) opened at 14.76 on Friday. Fly Leasing Lt has a 52 week low of $12.63 and a 52 week high of $16.59. The stock’s 50-day moving average is $14.42 and its 200-day moving average is $14.63. The company has a market cap of $611.0 million and a price-to-earnings ratio of 25.63.
Fly Leasing Ltd(ADR) (NYSE:FLY) last released its earnings data on Thursday, July 31st. The company reported $0.45 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.24 by $0.21. The company had revenue of $109.50 million for the quarter, compared to the consensus estimate of $97.80 million. During the same quarter last year, the company posted $0.40 earnings per share. Fly Leasing Ltd(ADR)’s revenue was up 21.0% compared to the same quarter last year. Analysts expect that Fly Leasing Lt will post $1.03 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, August 20th. Stockholders of record on Thursday, July 31st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 6.78%. The ex-dividend date of this dividend is Tuesday, July 29th.
Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital reiterated an “outperform” rating on shares of Fly Leasing Ltd(ADR) in a research note on Friday, May 9th. They now have a $20.00 price target on the stock. Separately, analysts at Deutsche Bank cut their price target on shares of Fly Leasing Ltd(ADR) from $20.00 to $18.00 in a research note on Friday, May 9th. Finally, analysts at Wells Fargo & Co. upgraded shares of Fly Leasing Ltd(ADR) from a “market perform” rating to an “outperform” rating in a research note on Friday, May 9th.
Fly Leasing Limited (NYSE:FLY), formerly Babcock & Brown Air Limited is a global lessor of commercial jet aircraft.
To view Zacks’ full report, visit Zacks’ official website.
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