Aercap Holdings N.V. (NYSE:AER) was downgraded by equities research analysts at Bank of America Corp. from a “buy” rating to an “underperform” rating in a research note issued to investors on Wednesday, AmericanBankingNews.com reports. They currently have a $21.00 target price on the stock, up from their previous target price of $18.75. Bank of America Corp.’s price target indicates a potential downside of 2.55% from the company’s current price.
The analysts wrote, “AER stock price has climbed 57% YTD and is currently above our increased price objective ($21.00, up from $18.75). With AER now trading above book value and our estimate of net asset value, we downgrade AER to Underperform from Buy. Excluding derivatives, AER reported 3Q profits of $0.76 vs $0.47 a year ago, above our $0.64E on greater than expected end-of-lease net revenues. Still, ex-out-of-period gains/losses (sales gains, impairments, net end-of-lease), AER posted base EPS of $0.61 vs $0.52 and our $0.57E. We are raising our 2013E to $2.60 ($2.20-$2.25 ‘base’ EPS) from $2.45, but maintain our 2014E of $2.45 ($2.30 “base” EPS).”
A number of other analysts have also recently weighed in on AER. Analysts at RBC Capital raised their price target on shares of Aercap Holdings N.V. from $28.00 to $30.00 in a research note to investors on Tuesday. They now have an “outperform” rating on the stock. Separately, analysts at Credit Suisse raised their price target on shares of Aercap Holdings N.V. from $22.00 to $25.00 in a research note to investors on Tuesday. They now have an “outperform” rating on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Aercap Holdings N.V. from $21.00 to $27.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $24.11.
Shares of Aercap Holdings N.V. (NYSE:AER) traded down 1.25% during mid-day trading on Wednesday, hitting $21.28. The stock had a trading volume of 113,601 shares. Aercap Holdings N.V. has a one year low of $12.31 and a one year high of $21.77. The stock has a 50-day moving average of $19.92 and a 200-day moving average of $17.96. The company has a market cap of $2.413 billion and a price-to-earnings ratio of 12.09.
Aercap Holdings N.V. (NYSE:AER) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.79 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.62 by $0.17. The company had revenue of $279.30 million for the quarter, compared to the consensus estimate of $257.49 million. During the same quarter last year, the company posted $0.48 earnings per share. Aercap Holdings N.V.’s revenue was up 3.6% compared to the same quarter last year. On average, analysts predict that Aercap Holdings N.V. will post $2.41 earnings per share for the current fiscal year.
AerCap Holdings N.V. is an integrated global aviation company. The Company is engaged in the business of acquiring aviation assets and leasing the assets to suitable lessees, and manage the funding and other lease related costs.
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