Aircastle Limited (AYR) Announces Quarterly Earnings Results, Misses Estimates By $0.58 EPS
Aircastle Limited (NYSE:AYR) posted its earnings results on Tuesday. The transportation company reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.58, Bloomberg Earnings reports. The company had revenue of $223.53 million for the quarter, compared to analysts’ expectations of $206.10 million. Aircastle Limited had a net margin of 19.81% and a return on equity of 8.88%. The business’s revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.31 earnings per share.
Shares of Aircastle Limited (NYSE AYR) traded up 0.80% during trading on Tuesday, hitting $24.03. 642,908 shares of the company’s stock were exchanged. The company has a 50-day moving average of $22.27 and a 200-day moving average of $22.85. The company has a market cap of $1.89 billion, a P/E ratio of 12.02 and a beta of 1.81. Aircastle Limited has a 12-month low of $18.26 and a 12-month high of $25.98.
Several equities analysts recently weighed in on AYR shares. Zacks Investment Research cut shares of Aircastle Limited from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 18th. Royal Bank Of Canada reissued a “hold” rating and issued a $25.00 price objective on shares of Aircastle Limited in a research note on Friday, April 21st. FBR & Co dropped their price objective on shares of Aircastle Limited from $27.50 to $26.00 and set a “market perform” rating for the company in a research note on Thursday, May 4th. Wells Fargo & Company reissued a “market perform” rating and issued a $24.00 price objective (down from $26.00) on shares of Aircastle Limited in a research note on Thursday, May 25th. Finally, Barclays PLC started coverage on shares of Aircastle Limited in a research note on Monday, July 10th. They issued an “equal weight” rating and a $24.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. Aircastle Limited presently has a consensus rating of “Hold” and an average target price of $24.20.
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Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in shares of Aircastle Limited during the second quarter valued at $121,000. Russell Investments Group Ltd. bought a new position in shares of Aircastle Limited during the fourth quarter valued at $172,000. 361 Capital LLC bought a new position in shares of Aircastle Limited during the first quarter valued at $200,000. Principal Financial Group Inc. bought a new position in shares of Aircastle Limited during the first quarter valued at $203,000. Finally, Violich Capital Management Inc. bought a new position in shares of Aircastle Limited during the first quarter valued at $209,000. 62.84% of the stock is owned by institutional investors.
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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