AerCap (NYSE:AER) Given New $111.00 Price Target at Morgan Stanley

AerCap (NYSE:AER) had its price target lifted by Morgan Stanley from $101.00 to $111.00 in a research report report published on Thursday,Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

A number of other analysts have also commented on AER. Susquehanna boosted their target price on AerCap from $108.00 to $120.00 and gave the company a “positive” rating in a research report on Thursday, February 27th. Bank of America upped their target price on AerCap from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. JPMorgan Chase & Co. boosted their price target on shares of AerCap from $112.00 to $114.00 and gave the company an “overweight” rating in a research note on Thursday. UBS Group cut shares of AerCap to an “underperform” rating in a report on Friday, March 7th. Finally, Barclays restated an “overweight” rating and issued a $115.00 target price (up previously from $113.00) on shares of AerCap in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $118.00.

AerCap Trading Up 0.8 %

Shares of AER stock opened at $106.74 on Thursday. The company has a market cap of $19.94 billion, a P/E ratio of 8.46, a PEG ratio of 2.22 and a beta of 1.41. AerCap has a fifty-two week low of $82.21 and a fifty-two week high of $108.49. The stock has a 50 day simple moving average of $99.54 and a two-hundred day simple moving average of $97.66. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.67 and a current ratio of 0.67.

AerCap (NYSE:AER) last issued its earnings results on Wednesday, April 30th. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.69 by $0.99. AerCap had a net margin of 32.38% and a return on equity of 13.98%. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period in the prior year, the firm earned $3.29 earnings per share. AerCap’s revenue was up 2.9% on a year-over-year basis. Research analysts forecast that AerCap will post 11.29 earnings per share for the current year.

AerCap Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Wednesday, May 14th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Wednesday, May 14th. AerCap’s dividend payout ratio is presently 9.58%.

AerCap declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 26th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 4.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On AerCap

A number of hedge funds and other institutional investors have recently made changes to their positions in AER. Franklin Resources Inc. raised its stake in shares of AerCap by 5.3% in the third quarter. Franklin Resources Inc. now owns 5,601,208 shares of the financial services provider’s stock valued at $545,726,000 after buying an additional 282,980 shares during the period. 59 North Capital Management LP raised its stake in AerCap by 17.0% in the 4th quarter. 59 North Capital Management LP now owns 3,704,914 shares of the financial services provider’s stock valued at $354,560,000 after acquiring an additional 538,703 shares during the period. Lyrical Asset Management LP lifted its holdings in AerCap by 1.3% during the fourth quarter. Lyrical Asset Management LP now owns 3,097,840 shares of the financial services provider’s stock valued at $296,463,000 after purchasing an additional 38,264 shares during the last quarter. Cooke & Bieler LP boosted its position in AerCap by 3.0% during the fourth quarter. Cooke & Bieler LP now owns 2,934,185 shares of the financial services provider’s stock worth $280,802,000 after purchasing an additional 86,548 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of AerCap by 22.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,608,099 shares of the financial services provider’s stock worth $249,595,000 after purchasing an additional 485,999 shares in the last quarter. 96.42% of the stock is owned by hedge funds and other institutional investors.

About AerCap

AerCap Holdings N.V. engages in the lease, financing, sale, and management of commercial flight equipment in China, Hong Kong, Macau, the United States, Ireland, and internationally. The company offers aircraft asset management services, such as remarketing aircraft and engines; collecting rental and maintenance rent payments, monitoring aircraft maintenance, monitoring and enforcing contract compliance, and accepting delivery and redelivery of aircraft and engines; and conducting ongoing lessee financial performance reviews.