Fly Leasing (NYSE:FLY) announced its quarterly earnings data on Thursday, March 7th. The transportation company reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.37, Morningstar.com reports. Fly Leasing had a net margin of 20.49% and a return on equity of 14.43%. The firm had revenue of $113.80 million during the quarter, compared to analyst estimates of $110.05 million. During the same quarter in the prior year, the firm posted $1.09 earnings per share. Fly Leasing’s quarterly revenue was up 10.1% on a year-over-year basis.
NYSE:FLY traded down $0.16 during mid-day trading on Friday, hitting $13.49. The stock had a trading volume of 125,374 shares, compared to its average volume of 93,796. The stock has a market cap of $387.14 million, a price-to-earnings ratio of 4.41 and a beta of 1.04. Fly Leasing has a twelve month low of $10.42 and a twelve month high of $15.32. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 4.27.
A number of large investors have recently modified their holdings of FLY. PEAK6 Investments LLC acquired a new stake in Fly Leasing in the fourth quarter valued at approximately $111,000. Panagora Asset Management Inc. acquired a new stake in Fly Leasing during the third quarter worth approximately $114,000. Dynamic Technology Lab Private Ltd acquired a new stake in Fly Leasing during the third quarter worth approximately $218,000. ClariVest Asset Management LLC acquired a new stake in Fly Leasing during the third quarter worth approximately $251,000. Finally, Sontag Advisory LLC acquired a new stake in Fly Leasing during the fourth quarter worth approximately $466,000. 49.95% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Fly Leasing from a “hold” rating to a “strong-buy” rating and set a $15.00 price objective for the company in a report on Monday, March 11th. ValuEngine raised shares of Fly Leasing from a “strong sell” rating to a “sell” rating in a research note on Thursday, March 7th. Two investment analysts have rated the stock with a sell rating, one has issued a buy rating and one has issued a strong buy rating to the company. Fly Leasing currently has an average rating of “Hold” and an average price target of $19.83.
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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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