Zacks: Brokerages Anticipate Fly Leasing Ltd (FLY) to Announce $0.51 EPS

Analysts predict that Fly Leasing Ltd (NYSE:FLY) will report $0.51 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Fly Leasing’s earnings, with estimates ranging from $0.32 to $0.98. Fly Leasing posted earnings of $0.95 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 46.3%. The business is scheduled to issue its next quarterly earnings results on Thursday, March 8th.

According to Zacks, analysts expect that Fly Leasing will report full year earnings of $0.17 per share for the current year, with EPS estimates ranging from $0.14 to $0.20. For the next financial year, analysts expect that the firm will post earnings of $1.98 per share, with EPS estimates ranging from $1.55 to $2.40. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Fly Leasing.

Fly Leasing (NYSE:FLY) last posted its quarterly earnings results on Thursday, November 9th. The transportation company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.81). Fly Leasing had a negative net margin of 19.77% and a positive return on equity of 6.72%.

FLY has been the topic of a number of analyst reports. Zacks Investment Research lowered Fly Leasing from a “hold” rating to a “strong sell” rating in a research report on Monday, November 13th. ValuEngine lowered Fly Leasing from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Citigroup initiated coverage on Fly Leasing in a research report on Friday, December 8th. They issued a “sell” rating and a $13.50 price target on the stock. Finally, Compass Point reaffirmed a “buy” rating and issued a $19.00 price target (up previously from $17.00) on shares of Fly Leasing in a research report on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $17.10.

Several hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp raised its position in shares of Fly Leasing by 1.2% during the 2nd quarter. State Street Corp now owns 35,405 shares of the transportation company’s stock worth $476,000 after acquiring an additional 425 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Fly Leasing by 8.2% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 18,818 shares of the transportation company’s stock worth $253,000 after acquiring an additional 1,424 shares in the last quarter. Allianz Asset Management GmbH raised its position in shares of Fly Leasing by 27.1% during the 3rd quarter. Allianz Asset Management GmbH now owns 22,481 shares of the transportation company’s stock worth $315,000 after acquiring an additional 4,798 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of Fly Leasing during the 3rd quarter worth about $102,000. Finally, Point72 Asset Management L.P. raised its position in shares of Fly Leasing by 2.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 292,338 shares of the transportation company’s stock worth $4,099,000 after acquiring an additional 8,190 shares in the last quarter. 45.36% of the stock is currently owned by institutional investors and hedge funds.

Shares of Fly Leasing (NYSE FLY) opened at $13.07 on Monday. The company has a debt-to-equity ratio of 4.74, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a market capitalization of $375.08, a PE ratio of -6.05, a price-to-earnings-growth ratio of 0.66 and a beta of 1.07. Fly Leasing has a 12-month low of $11.91 and a 12-month high of $14.65.

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Fly Leasing Company Profile

Fly Leasing Limited is engaged in purchasing commercial aircraft, which it leases under multi-year contracts to a range of airlines throughout the world. The Company primarily acquires aircraft by entering into purchase and leaseback transactions with airlines for new aircraft; purchasing portfolios, which consists of aircraft of various types and ages, and acquiring individual aircraft.

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