Fly Leasing Ltd. (FLY) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Fly Leasing Ltd. (NYSE:FLY) have received a consensus recommendation of “Hold” from the seven analysts that are presently covering the firm. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $16.00.
Several equities analysts have recently commented on FLY shares. Deutsche Bank AG boosted their price target on shares of Fly Leasing from $18.00 to $19.00 and gave the company a “buy” rating in a report on Friday, July 29th. Citigroup Inc. lowered their price target on shares of Fly Leasing from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, August 19th. TheStreet upgraded shares of Fly Leasing from a “sell” rating to a “hold” rating in a report on Monday, August 22nd. Zacks Investment Research upgraded shares of Fly Leasing from a “sell” rating to a “hold” rating in a report on Monday, August 1st. Finally, Cowen and Company boosted their price target on shares of Fly Leasing from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, July 29th.
Large investors have recently added to or reduced their stakes in the stock. Telemus Capital LLC acquired a new stake in Fly Leasing during the third quarter valued at about $116,000. Cubist Systematic Strategies LLC raised its stake in Fly Leasing by 1.5% in the second quarter. Cubist Systematic Strategies LLC now owns 13,859 shares of the company’s stock valued at $138,000 after buying an additional 201 shares during the last quarter. Westport Resources Management Inc. raised its stake in Fly Leasing by 25.2% in the second quarter. Westport Resources Management Inc. now owns 15,900 shares of the company’s stock valued at $158,000 after buying an additional 3,200 shares during the last quarter. Commonwealth Equity Services Inc raised its stake in Fly Leasing by 0.6% in the second quarter. Commonwealth Equity Services Inc now owns 17,700 shares of the company’s stock valued at $176,000 after buying an additional 113 shares during the last quarter. Finally, State Street Corp raised its stake in Fly Leasing by 22.4% in the first quarter. State Street Corp now owns 20,119 shares of the company’s stock valued at $256,000 after buying an additional 3,687 shares during the last quarter. 52.91% of the stock is owned by institutional investors and hedge funds.
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Shares of Fly Leasing (NYSE:FLY) traded down 0.59% during mid-day trading on Monday, hitting $11.87. The stock had a trading volume of 84,802 shares. Fly Leasing has a 52 week low of $9.54 and a 52 week high of $14.03. The stock has a 50-day moving average price of $11.85 and a 200 day moving average price of $11.58. The stock has a market cap of $395.83 million, a P/E ratio of 7.71 and a beta of 1.03.
Fly Leasing (NYSE:FLY) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.12. Fly Leasing had a net margin of 14.69% and a return on equity of 19.23%. The firm had revenue of $76.34 million for the quarter, compared to analysts’ expectations of $80.88 million. During the same period in the previous year, the company posted $0.23 EPS. The company’s quarterly revenue was down 25.0% compared to the same quarter last year. On average, equities analysts forecast that Fly Leasing will post $1.26 EPS for the current fiscal year.
Fly Leasing Company Profile
Fly Leasing Limited (Fly) is engaged in purchasing commercial aircraft which it leases under multi-year contracts to a range of airlines throughout the world. As of December 31, 2014, the Company’s aircraft portfolio consisted of 127 commercial jet aircraft, consisting of 116 narrow-body passenger aircraft, including two freighters, and 11 wide-body passenger aircraft.
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