Aircastle Limited (AYR) Expected to Post Quarterly Sales of $183.28 Million
Wall Street analysts forecast that Aircastle Limited (NYSE:AYR) will announce $183.28 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Aircastle Limited’s earnings, with the lowest sales estimate coming in at $182.17 million and the highest estimate coming in at $184.18 million. Aircastle Limited posted sales of $194.65 million in the same quarter last year, which suggests a negative year over year growth rate of 5.8%. The company is scheduled to report its next quarterly earnings results before the market opens on Thursday, November 2nd.
On average, analysts expect that Aircastle Limited will report full-year sales of $183.28 million for the current financial year, with estimates ranging from $784.13 million to $802.80 million. For the next fiscal year, analysts forecast that the firm will post sales of $820.07 million per share, with estimates ranging from $774.93 million to $848.50 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Aircastle Limited.
Aircastle Limited (NYSE:AYR) last issued its earnings results on Tuesday, August 8th. The transportation company reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.58). Aircastle Limited had a return on equity of 7.41% and a net margin of 15.75%. The company had revenue of $223.53 million for the quarter, compared to the consensus estimate of $206.10 million. During the same quarter last year, the business posted $0.31 EPS. Aircastle Limited’s quarterly revenue was up 17.7% on a year-over-year basis.
Several brokerages recently commented on AYR. Cowen and Company restated a “market perform” rating and set a $26.00 target price (up previously from $25.00) on shares of Aircastle Limited in a research report on Thursday, August 10th. BidaskClub lowered Aircastle Limited from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. Zacks Investment Research downgraded Aircastle Limited from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Finally, Barclays PLC assumed coverage on 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. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $24.30.
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Aircastle Limited (AYR) opened at 22.91 on Friday. The company has a market cap of $1.80 billion, a PE ratio of 13.82 and a beta of 1.84. The firm’s 50-day moving average price is $22.50 and its 200-day moving average price is $22.46. Aircastle Limited has a one year low of $18.26 and a one year high of $25.98.
Large investors have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in Aircastle Limited during the second quarter valued at $121,000. Principal Financial Group Inc. bought a new stake in Aircastle Limited during the first quarter valued at $203,000. BNP Paribas Arbitrage SA boosted its stake in Aircastle Limited by 203.7% during the second quarter. BNP Paribas Arbitrage SA now owns 9,362 shares of the transportation company’s stock valued at $204,000 after buying an additional 6,279 shares during the period. Suntrust Banks Inc. boosted its stake in Aircastle Limited by 0.7% during the second quarter. Suntrust Banks Inc. now owns 9,711 shares of the transportation company’s stock valued at $210,000 after buying an additional 67 shares during the period. Finally, Marshall Wace North America L.P. bought a new stake in Aircastle Limited during the first quarter valued at $220,000. 61.95% 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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