Analysts Expect Aircastle Limited (NYSE:AYR) Will Announce Earnings of $0.61 Per Share
Brokerages expect Aircastle Limited (NYSE:AYR) to announce earnings of $0.61 per share for the current quarter, according to Zacks. Four analysts have provided estimates for Aircastle Limited’s earnings, with the lowest EPS estimate coming in at $0.57 and the highest estimate coming in at $0.67. Aircastle Limited reported earnings of $0.28 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 117.9%. The company is scheduled to announce its next quarterly earnings results on Thursday, August 3rd.
According to Zacks, analysts expect that Aircastle Limited will report full year earnings of $2.25 per share for the current year, with EPS estimates ranging from $2.19 to $2.29. For the next fiscal year, analysts expect that the firm will post earnings of $2.34 per share, with EPS estimates ranging from $2.19 to $2.44. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Aircastle Limited.
Aircastle Limited (NYSE:AYR) last announced its quarterly earnings data on Thursday, May 4th. The transportation company reported $0.58 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.58. The business had revenue of $204.30 million for the quarter, compared to analyst estimates of $204.22 million. Aircastle Limited had a net margin of 19.81% and a return on equity of 8.88%. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.56 earnings per share.
AYR has been the subject of several research reports. FBR & Co reduced their price target on shares of Aircastle Limited from $27.50 to $26.00 and set a “market perform” rating for the company in a research report on Thursday, May 4th. Zacks Investment Research downgraded shares of Aircastle Limited from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 18th. Wells Fargo & Company reissued a “market perform” rating and issued a $24.00 price target (down previously from $26.00) on shares of Aircastle Limited in a research report on Thursday, May 25th. Royal Bank Of Canada reissued a “hold” rating and issued a $25.00 price target on shares of Aircastle Limited in a research report on Friday, April 21st. Finally, Barclays PLC initiated coverage on shares of Aircastle Limited in a research report on Monday, July 10th. They issued an “equal weight” rating and a $24.00 price target for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Aircastle Limited presently has a consensus rating of “Hold” and an average price target of $24.20.
Institutional investors have recently modified their holdings of the stock. Norges Bank bought a new position in shares of Aircastle Limited during the fourth quarter valued at $10,051,000. Dimensional Fund Advisors LP boosted its position in shares of Aircastle Limited by 6.9% in the first quarter. Dimensional Fund Advisors LP now owns 4,629,739 shares of the transportation company’s stock valued at $111,716,000 after buying an additional 297,984 shares during the period. Vanguard Group Inc. boosted its position in shares of Aircastle Limited by 3.2% in the first quarter. Vanguard Group Inc. now owns 5,629,041 shares of the transportation company’s stock valued at $135,829,000 after buying an additional 176,874 shares during the period. James Investment Research Inc. boosted its position in shares of Aircastle Limited by 14,409.7% in the first quarter. James Investment Research Inc. now owns 101,568 shares of the transportation company’s stock valued at $2,451,000 after buying an additional 100,868 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in shares of Aircastle Limited by 7.4% in the first quarter. Advisors Asset Management Inc. now owns 1,271,262 shares of the transportation company’s stock valued at $30,676,000 after buying an additional 87,699 shares during the period. Institutional investors and hedge funds own 63.22% of the company’s stock.
Shares of Aircastle Limited (AYR) traded up 0.38% during mid-day trading on Tuesday, hitting $23.61. 242,675 shares of the stock were exchanged. 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 $21.94 and its 200-day moving average price is $22.77. The stock has a market capitalization of $1.86 billion, a P/E ratio of 11.81 and a beta of 1.80.
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About Aircastle Limited
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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