Equities research analysts expect Fly Leasing Ltd (NYSE:FLY) to report sales of $100.53 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Fly Leasing’s earnings. The lowest sales estimate is $100.16 million and the highest is $100.90 million. Fly Leasing reported sales of $86.22 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 16.6%. The company is scheduled to announce its next quarterly earnings report before the market opens on Thursday, November 8th.
According to Zacks, analysts expect that Fly Leasing will report full-year sales of $403.13 million for the current year, with estimates ranging from $399.81 million to $406.10 million. For the next year, analysts expect that the business will report sales of $453.50 million, with estimates ranging from $435.37 million to $475.60 million. Zacks’ sales averages are an average based on a survey of research firms that that provide coverage for Fly Leasing.
Fly Leasing (NYSE:FLY) last announced its quarterly earnings data on Thursday, August 23rd. The transportation company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.69 by $0.18. The business had revenue of $99.30 million for the quarter, compared to analyst estimates of $98.62 million. Fly Leasing had a net margin of 7.43% and a return on equity of 5.79%. The company’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 earnings per share.
Several analysts have commented on FLY shares. Zacks Investment Research lowered shares of Fly Leasing from a “buy” rating to a “hold” rating in a research report on Monday, August 27th. ValuEngine lowered shares of Fly Leasing from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. TheStreet raised shares of Fly Leasing from a “d+” rating to a “c-” rating in a research report on Wednesday, September 19th. Finally, Citigroup lifted their price objective on shares of Fly Leasing from $14.00 to $14.50 and gave the stock a “sell” rating in a research report on Friday, August 24th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $18.63.
FLY stock traded down $0.19 during mid-day trading on Thursday, hitting $13.15. The company had a trading volume of 46,666 shares, compared to its average volume of 106,784. The firm has a market cap of $381.97 million, a price-to-earnings ratio of 146.11, a P/E/G ratio of 0.58 and a beta of 1.01. The company has a debt-to-equity ratio of 4.29, a quick ratio of 1.33 and a current ratio of 1.33. Fly Leasing has a 12 month low of $11.54 and a 12 month high of $15.32.
Several institutional investors and hedge funds have recently bought and sold shares of FLY. Wells Fargo & Company MN increased its stake in shares of Fly Leasing by 74.6% in the first quarter. Wells Fargo & Company MN now owns 215,137 shares of the transportation company’s stock worth $2,863,000 after purchasing an additional 91,953 shares in the last quarter. Dalton Greiner Hartman Maher & Co. increased its stake in shares of Fly Leasing by 42.9% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 408,329 shares of the transportation company’s stock worth $5,753,000 after purchasing an additional 122,631 shares in the last quarter. Campbell & CO Investment Adviser LLC increased its stake in shares of Fly Leasing by 67.2% in the second quarter. Campbell & CO Investment Adviser LLC now owns 22,467 shares of the transportation company’s stock worth $317,000 after purchasing an additional 9,028 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of Fly Leasing in the second quarter worth about $592,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Fly Leasing in the second quarter worth about $2,749,000. Hedge funds and other institutional investors own 49.12% of the company’s stock.
About Fly Leasing
Fly Leasing Limited, through its subsidiaries, purchases and leases commercial aircrafts under multi-year contracts to various airlines worldwide. As of December 31, 2017, the company had a portfolio of 85 aircrafts, including 73 narrow-body passenger aircrafts and 12 wide-body passenger aircrafts. Fly Leasing Limited was founded in 2007 and is headquartered in Dún Laoghaire, Ireland.
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