Wall Street analysts expect that Aircastle Limited (NYSE:AYR) will report earnings of $0.52 per share for the current quarter, according to Zacks. Two analysts have provided estimates for Aircastle’s earnings. The lowest EPS estimate is $0.42 and the highest is $0.60. Aircastle reported earnings of $0.67 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 22.4%. The business is scheduled to announce its next quarterly earnings report on Tuesday, August 6th.
On average, analysts expect that Aircastle will report full-year earnings of $2.19 per share for the current financial year, with EPS estimates ranging from $1.67 to $2.42. For the next financial year, analysts expect that the firm will post earnings of $2.57 per share, with EPS estimates ranging from $1.70 to $3.00. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that follow Aircastle.
Aircastle (NYSE:AYR) last released its earnings results on Thursday, May 2nd. The transportation company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. The firm had revenue of $213.93 million for the quarter, compared to analyst estimates of $202.84 million. Aircastle had a return on equity of 11.31% and a net margin of 24.90%. Aircastle’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 earnings per share.
A number of research analysts recently issued reports on AYR shares. Zacks Investment Research raised Aircastle from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Wednesday, March 20th. ValuEngine raised Aircastle from a “sell” rating to a “hold” rating in a report on Tuesday, March 12th. Finally, Goldman Sachs Group started coverage on Aircastle in a report on Monday, April 8th. They set a “sell” rating and a $18.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $21.50.
NYSE:AYR traded up $0.43 during mid-day trading on Wednesday, reaching $20.86. 11,200 shares of the stock were exchanged, compared to its average volume of 315,441. The business’s fifty day moving average price is $20.06. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 6.58 and a beta of 1.59. Aircastle has a 1-year low of $15.75 and a 1-year high of $22.27.
The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were given a $0.30 dividend. The ex-dividend date was Thursday, May 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.75%. Aircastle’s dividend payout ratio (DPR) is 37.85%.
Aircastle announced that its Board of Directors has initiated a stock repurchase program on Tuesday, May 21st that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the transportation company to purchase up to 6.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
In related news, Director Ronald Merriman sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $20.06, for a total transaction of $200,600.00. Following the completion of the transaction, the director now directly 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 accessible through the SEC website. 2.10% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of AYR. Advisors Asset Management Inc. boosted its stake in Aircastle by 17.6% during the 4th quarter. Advisors Asset Management Inc. now owns 872,416 shares of the transportation company’s stock valued at $15,040,000 after purchasing an additional 130,649 shares during the last quarter. Rhumbline Advisers boosted its stake in Aircastle by 36.1% during the 4th quarter. Rhumbline Advisers now owns 93,177 shares of the transportation company’s stock valued at $1,606,000 after purchasing an additional 24,718 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Aircastle by 9.1% during the 4th quarter. Victory Capital Management Inc. now owns 64,321 shares of the transportation company’s stock valued at $1,109,000 after purchasing an additional 5,370 shares during the last quarter. LPL Financial LLC boosted its stake in Aircastle by 38.8% during the 4th quarter. LPL Financial LLC now owns 19,434 shares of the transportation company’s stock valued at $335,000 after purchasing an additional 5,430 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its stake in Aircastle by 20.9% during the 4th quarter. New York State Common Retirement Fund now owns 65,600 shares of the transportation company’s stock valued at $1,131,000 after purchasing an additional 11,330 shares during the last quarter. 57.03% of the stock is owned by hedge funds and other institutional investors.
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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