Aircastle Limited (AYR) Declares Quarterly Dividend of $0.28
Aircastle Limited (NYSE:AYR) announced a quarterly dividend on Thursday, November 2nd, Zacks reports. Stockholders of record on Thursday, November 30th will be paid a dividend of 0.28 per share by the transportation company on Friday, December 15th. This represents a $1.12 annualized dividend and a dividend yield of 4.55%. The ex-dividend date of this dividend is Wednesday, November 29th. This is an increase from Aircastle Limited’s previous quarterly dividend of $0.26.
Aircastle Limited has increased its dividend by an average of 12.1% per year over the last three years and has raised its dividend annually for the last 6 consecutive years. Aircastle Limited has a payout ratio of 63.0% meaning its dividend is sufficiently covered by earnings.
Aircastle Limited (NYSE:AYR) last released its earnings results on Thursday, November 2nd. The transportation company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.15. Aircastle Limited had a return on equity of 9.21% and a net margin of 19.48%. The company had revenue of $191.41 million for the quarter, compared to the consensus estimate of $184.02 million. During the same quarter last year, the business posted $0.38 EPS. Aircastle Limited’s quarterly revenue was down 1.7% compared to the same quarter last year.
A number of research firms have commented on AYR. Cowen and Company reaffirmed a “market perform” rating and set a $26.00 target price (up previously from $25.00) on shares of Aircastle Limited in a report on Thursday, August 10th. BidaskClub downgraded 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 report on Monday, August 14th. Finally, Barclays PLC began coverage on Aircastle Limited in a report on Monday, July 10th. They set an “equal weight” rating and a $24.00 target price on the stock. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $24.78.
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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