Wall Street brokerages predict that Aircastle Limited (NYSE:AYR) will post $285.39 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Aircastle’s earnings, with estimates ranging from $285.34 million to $285.44 million. Aircastle reported sales of $177.40 million in the same quarter last year, which would suggest a positive year over year growth rate of 60.9%. The company is expected to report its next earnings report before the market opens on Tuesday, February 12th.
On average, analysts expect that Aircastle will report full-year sales of $883.18 million for the current financial year, with estimates ranging from $883.12 million to $883.23 million. For the next financial year, analysts anticipate that the business will post sales of $896.40 million, with estimates ranging from $887.06 million to $905.74 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Aircastle.
A number of research analysts have issued reports on AYR shares. Cowen reaffirmed an “outperform” rating and issued a $25.00 price target (down previously from $26.00) on shares of Aircastle in a report on Tuesday, December 11th. Credit Suisse Group reduced their target price on shares of Aircastle from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, December 11th. TheStreet cut shares of Aircastle from a “b-” rating to a “c+” rating in a report on Friday, December 28th. Zacks Investment Research cut shares of Aircastle from a “buy” rating to a “hold” rating in a report on Tuesday, November 20th. Finally, Barclays set a $22.00 target price on shares of Aircastle and gave the stock a “hold” rating in a report on Friday, December 14th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Aircastle currently has a consensus rating of “Hold” and an average target price of $23.29.
Shares of NYSE AYR traded up $0.54 during midday trading on Monday, reaching $20.60. The company had a trading volume of 391,274 shares, compared to its average volume of 337,942. The stock has a market cap of $1.54 billion, a P/E ratio of 11.02 and a beta of 1.74. Aircastle has a 1 year low of $15.75 and a 1 year high of $23.14.
Several institutional investors have recently modified their holdings of AYR. Advisor Group Inc. grew its position in Aircastle by 82.1% during the fourth quarter. Advisor Group Inc. now owns 7,848 shares of the transportation company’s stock valued at $134,000 after buying an additional 3,538 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Aircastle during the fourth quarter valued at $256,000. Diamond Hill Capital Management Inc. grew its position in Aircastle by 25.5% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,997,774 shares of the transportation company’s stock valued at $51,682,000 after buying an additional 609,540 shares during the period. Bank of New York Mellon Corp grew its position in Aircastle by 2.5% during the fourth quarter. Bank of New York Mellon Corp now owns 242,484 shares of the transportation company’s stock valued at $4,180,000 after buying an additional 6,010 shares during the period. Finally, Stephens Inc. AR acquired a new stake in Aircastle during the fourth quarter valued at $331,000. 58.36% 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. The company also invests in other aviation assets. As of December 31, 2017, its aircraft portfolio comprised 236 aircraft leased to 81 lessees located in 43 countries. Aircastle Limited was founded in 2004 and is based in Stamford, Connecticut.
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