Shares of Fly Leasing Limited (NYSE:FLY) have been given a consensus rating of “Buy” by the nine ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $16.50.

Several brokerages have weighed in on FLY. Royal Bank Of Canada restated a “buy” rating on shares of Fly Leasing Limited in a research note on Friday, April 21st. Zacks Investment Research cut Fly Leasing Limited from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 17th. TheStreet cut Fly Leasing Limited from a “c” rating to a “d” rating in a research note on Thursday, March 9th. ValuEngine cut Fly Leasing Limited from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Compass Point upgraded Fly Leasing Limited from a “neutral” rating to a “buy” rating and set a $16.50 target price on the stock in a research note on Friday, March 10th.

Fly Leasing Limited (NYSE FLY) traded up 0.45% during mid-day trading on Tuesday, reaching $13.33. 136,377 shares of the company’s stock traded hands. The company has a 50 day moving average price of $12.88 and a 200-day moving average price of $13.43. The stock’s market cap is $428.64 million. Fly Leasing Limited has a 12 month low of $9.54 and a 12 month high of $14.45.

Fly Leasing Limited (NYSE:FLY) last issued its quarterly earnings data on Thursday, May 11th. The transportation company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.05. Fly Leasing Limited had a positive return on equity of 11.96% and a negative net margin of 9.21%. The business had revenue of $79.27 million for the quarter, compared to analysts’ expectations of $83.27 million. During the same period last year, the business earned $0.47 EPS. The business’s revenue was down 2.4% on a year-over-year basis. On average, analysts anticipate that Fly Leasing Limited will post $1.27 EPS for the current year.

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A number of large investors have recently made changes to their positions in FLY. Russell Investments Group Ltd. purchased a new stake in shares of Fly Leasing Limited during the fourth quarter worth about $2,495,000. State Street Corp boosted its stake in shares of Fly Leasing Limited 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 in the last quarter. Oxford Asset Management boosted its stake in shares of Fly Leasing Limited by 30.1% in the fourth quarter. Oxford Asset Management now owns 63,234 shares of the transportation company’s stock worth $841,000 after buying an additional 14,630 shares in the last quarter. Renaissance Group LLC boosted its stake in shares of Fly Leasing Limited 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 in the last quarter. Finally, FMR LLC boosted its stake in shares of Fly Leasing Limited by 7.9% in the fourth quarter. FMR LLC now owns 1,312,018 shares of the transportation company’s stock worth $17,450,000 after buying an additional 95,548 shares in the last quarter. Institutional investors and hedge funds own 52.53% of the company’s stock.

About Fly Leasing Limited

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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