Aircastle Limited (AYR) Given Consensus Recommendation of “Hold” by Brokerages
Aircastle Limited (NYSE:AYR) has earned a consensus rating of “Hold” from the nine brokerages that are currently covering the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $24.29.
AYR has been the topic of a number of recent analyst reports. FBR & Co downgraded Aircastle Limited from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $23.00 to $27.50 in a report on Wednesday, February 15th. Bank of America Corp upgraded Aircastle Limited from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $25.98 to $26.00 in a report on Tuesday, February 28th. Zacks Investment Research downgraded Aircastle Limited from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 18th. Cowen and Company downgraded Aircastle Limited from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $23.00 to $25.00 in a report on Wednesday, February 15th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $25.00 price objective on shares of Aircastle Limited in a report on Friday, April 21st.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. WFG Advisors LP increased its position in Aircastle Limited by 78,278.2% in the fourth quarter. WFG Advisors LP now owns 43,108 shares of the transportation company’s stock worth $2,376,000 after buying an additional 43,053 shares in the last quarter. Guggenheim Capital LLC increased its position in Aircastle Limited by 29.2% in the fourth quarter. Guggenheim Capital LLC now owns 28,346 shares of the transportation company’s stock worth $591,000 after buying an additional 6,405 shares in the last quarter. Two Sigma Investments LP increased its position in Aircastle Limited by 33.8% in the fourth quarter. Two Sigma Investments LP now owns 144,841 shares of the transportation company’s stock worth $3,020,000 after buying an additional 36,581 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Aircastle Limited by 0.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 68,551 shares of the transportation company’s stock worth $1,429,000 after buying an additional 284 shares in the last quarter. Finally, Cantab Capital Partners LLP purchased a new position in Aircastle Limited during the fourth quarter worth about $430,000. Hedge funds and other institutional investors own 63.43% of the company’s stock.
Shares of Aircastle Limited (NYSE:AYR) traded up 3.81% during midday trading on Friday, reaching $22.37. The company’s stock had a trading volume of 286,542 shares. The company has a market cap of $1.76 billion, a P/E ratio of 11.19 and a beta of 1.62. Aircastle Limited has a 12-month low of $18.26 and a 12-month high of $25.98. The stock’s 50-day moving average price is $23.05 and its 200-day moving average price is $22.60.
Aircastle Limited (NYSE:AYR) last issued its quarterly earnings results on Thursday, May 4th. The transportation company reported $0.58 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.58. Aircastle Limited had a return on equity of 8.02% and a net margin of 17.25%. The company had revenue of $204.30 million for the quarter, compared to the consensus estimate of $204.22 million. During the same quarter in the prior year, the business earned $0.56 EPS. Aircastle Limited’s revenue was up 11.2% on a year-over-year basis. On average, analysts expect that Aircastle Limited will post $2.41 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st will be issued a $0.26 dividend. The ex-dividend date is Friday, May 26th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.83%. Aircastle Limited’s payout ratio is currently 61.54%.
Aircastle Limited Company Profile
Aircastle Limited is a holding company. The Company, through its subsidiaries, acquires, leases and sells commercial jet aircrafts to airlines. The Company is engaged in financing and managing commercial flight equipment. The Company manages its aircrafts in the United States, Ireland and Singapore. As of December 31, 2016, the Company owned and managed on behalf of its joint ventures 206 aircrafts leased to 71 lessees located in 36 countries.
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