Fly Leasing Ltd (FLY) Expected to Announce Earnings of $0.35 Per Share
Brokerages predict that Fly Leasing Ltd (NYSE:FLY) will report $0.35 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Fly Leasing’s earnings. The highest EPS estimate is $0.40 and the lowest is $0.26. Fly Leasing posted earnings per share of $0.47 in the same quarter last year, which would suggest a negative year over year growth rate of 25.5%. The business is expected to announce its next earnings report before the market opens on Thursday, May 11th.
On average, analysts expect that Fly Leasing will report full-year earnings of $1.80 per share for the current year, with EPS estimates ranging from $1.45 to $2.15. For the next fiscal year, analysts anticipate that the company will post earnings of $2.21 per share, with EPS estimates ranging from $2.00 to $2.40. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Fly Leasing.
Fly Leasing (NYSE:FLY) last released its quarterly earnings data on Thursday, March 9th. The transportation company reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.38. The business earned $100.60 million during the quarter, compared to analysts’ expectations of $95.77 million. Fly Leasing had a net margin of 16.48% and a return on equity of 17.29%. The company’s revenue for the quarter was down 18.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.54 EPS.
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FLY has been the topic of a number of recent analyst reports. Zacks Investment Research raised Fly Leasing from a “hold” rating to a “strong-buy” rating and set a $16.00 price objective on the stock in a research note on Tuesday, February 21st. Royal Bank of Canada reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Fly Leasing in a research note on Friday, January 6th. TheStreet lowered Fly Leasing from a “c” rating to a “d” rating in a research note on Thursday, March 9th. Finally, Compass Point initiated coverage on Fly Leasing in a research note on Wednesday, January 4th. They issued a “neutral” rating and a $16.50 price objective on the stock. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Fly Leasing currently has a consensus rating of “Buy” and an average target price of $17.21.
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A number of large investors have recently modified their holdings of FLY. GSA Capital Partners LLP increased its stake in shares of Fly Leasing by 38.5% in the fourth quarter. GSA Capital Partners LLP now owns 16,561 shares of the transportation company’s stock worth $220,000 after buying an additional 4,600 shares during the last quarter. Joel Isaacson & Co. LLC acquired a new stake in shares of Fly Leasing during the third quarter worth $232,000. Renaissance Group LLC increased its stake in shares of Fly Leasing by 9.2% in the fourth quarter. Renaissance Group LLC now owns 26,418 shares of the transportation company’s stock worth $351,000 after buying an additional 2,232 shares during the last quarter. State Street Corp increased its stake in shares of Fly Leasing by 3.0% in the fourth quarter. State Street Corp now owns 33,992 shares of the transportation company’s stock worth $451,000 after buying an additional 986 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in shares of Fly Leasing by 15.1% in the third quarter. California Public Employees Retirement System now owns 72,400 shares of the transportation company’s stock worth $839,000 after buying an additional 9,500 shares during the last quarter. Institutional investors and hedge funds own 52.70% of the company’s stock.
Shares of Fly Leasing (NYSE:FLY) opened at 12.88 on Thursday. The stock’s 50 day moving average is $13.21 and its 200 day moving average is $13.29. Fly Leasing has a 52-week low of $9.54 and a 52-week high of $14.45. The stock’s market capitalization is $415.46 million.
About Fly Leasing
Fly Leasing Limited is engaged in purchasing commercial aircraft, which it leases under multi-year contracts to a range of airlines throughout the world. The Company primarily acquires aircraft by entering into purchase and leaseback transactions with airlines for new aircraft; purchasing portfolios, which consists of aircraft of various types and ages, and acquiring individual aircraft.
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