Aircastle Limited (NYSE:AYR) – Analysts at Macquarie issued their Q2 2019 EPS estimates for Aircastle in a research report issued on Tuesday, June 11th. Macquarie analyst S. Donofrio expects that the transportation company will post earnings of $0.43 per share for the quarter.
A number of other brokerages have also recently commented on AYR. Bank of America cut Aircastle from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $23.00 to $20.00 in a research note on Thursday, February 14th. ValuEngine raised Aircastle from a “sell” rating to a “hold” rating in a research note on Tuesday, March 12th. Goldman Sachs Group initiated coverage on Aircastle in a research note on Monday, April 8th. They issued a “sell” rating and a $18.00 price objective for the company. Finally, Zacks Investment Research raised Aircastle from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Wednesday, March 20th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Aircastle has a consensus rating of “Hold” and a consensus target price of $21.50.
Shares of AYR stock opened at $20.75 on Friday. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 7.10 and a beta of 1.59. Aircastle has a fifty-two week low of $15.75 and a fifty-two week high of $22.27.
Aircastle (NYSE:AYR) last issued its earnings results on Thursday, May 2nd. The transportation company reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.07. The business had revenue of $213.93 million during the quarter, compared to the consensus estimate of $202.84 million. Aircastle had a return on equity of 11.31% and a net margin of 24.90%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a $0.30 dividend. The ex-dividend date is Thursday, May 30th. This represents a $1.20 dividend on an annualized basis and a yield of 5.78%. Aircastle’s dividend payout ratio (DPR) is presently 37.85%.
Aircastle declared that its Board of Directors has initiated a stock buyback plan on Tuesday, May 21st that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the transportation company to reacquire up to 6.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
In other Aircastle news, Director Ronald Merriman sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $20.06, for a total value of $200,600.00. Following the completion of the sale, the director now owns 7,831 shares of the company’s stock, valued at $157,089.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.10% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in shares of Aircastle by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,620,410 shares of the transportation company’s stock valued at $114,136,000 after buying an additional 49,433 shares during the last quarter. LSV Asset Management boosted its position in shares of Aircastle by 0.4% during the fourth quarter. LSV Asset Management now owns 3,740,955 shares of the transportation company’s stock valued at $64,494,000 after buying an additional 16,700 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its position in shares of Aircastle by 25.5% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,997,774 shares of the transportation company’s stock valued at $51,682,000 after buying an additional 609,540 shares during the last quarter. Rothschild & Co. Asset Management US Inc. boosted its position in shares of Aircastle by 2.6% during the first quarter. Rothschild & Co. Asset Management US Inc. now owns 1,875,266 shares of the transportation company’s stock valued at $37,955,000 after buying an additional 48,410 shares during the last quarter. Finally, River Road Asset Management LLC boosted its position in shares of Aircastle by 11.1% during the first quarter. River Road Asset Management LLC now owns 1,808,070 shares of the transportation company’s stock valued at $36,595,000 after buying an additional 181,270 shares during the last quarter. 57.03% of the stock is currently owned by institutional investors.
Aircastle Company Profile
Aircastle Limited, through its subsidiaries, leases, finances, sells, and manages commercial flight equipment to airlines worldwide. As of December 31, 2018, its aircraft portfolio comprised 261 aircraft leased to 81 lessees located in 44 countries. Aircastle Limited was founded in 2004 and is based in Stamford, Connecticut.
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