Aercap Holdings N.V. (AER) to Buyback $200.00 million in Outstanding Stock
Aercap Holdings N.V. (NYSE:AER) declared that its Board of Directors has initiated a share buyback program, which permits the company to repurchase $200.00 million in outstanding shares on Thursday, November 2nd, EventVestor reports. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
Several equities analysts have issued reports on AER shares. Cowen and Company restated a “buy” rating and set a $55.00 target price on shares of Aercap Holdings N.V. in a research note on Thursday, October 12th. Zacks Investment Research upgraded shares of Aercap Holdings N.V. from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research note on Tuesday, August 15th. BidaskClub cut shares of Aercap Holdings N.V. from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 15th. Credit Suisse Group restated a “buy” rating and set a $56.00 target price on shares of Aercap Holdings N.V. in a research note on Friday, July 7th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $77.00 target price on shares of Aercap Holdings N.V. in a research note on Friday, August 4th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $56.90.
Aercap Holdings N.V. (NYSE:AER) last released its earnings results on Thursday, November 2nd. The financial services provider reported $1.62 EPS for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.16. Aercap Holdings N.V. had a return on equity of 14.43% and a net margin of 22.26%. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the previous year, the company posted $1.22 earnings per share. The company’s revenue was up 3.9% compared to the same quarter last year.
In other Aercap Holdings N.V. news, Director Michael Gradon sold 742 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $50.16, for a total value of $37,218.72. Following the completion of the transaction, the director now directly owns 3,380 shares of the company’s stock, valued at $169,540.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James A. Lawrence purchased 100,000 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was bought at an average cost of $49.81 per share, with a total value of $4,981,000.00. Following the completion of the acquisition, the director now directly owns 53,280 shares of the company’s stock, valued at approximately $2,653,876.80. The disclosure for this purchase can be found here.
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Aercap Holdings N.V. Company Profile
AerCap Holdings N.V. is an independent aircraft leasing company. The Company focuses on acquiring in-demand aircraft, funding them, hedging interest rate risk and using its platform to deploy these assets. It operates its business on a global basis, leasing aircraft to customers in various geographical regions.
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