AerCap (NYSE:AER) Sets New 1-Year High on Earnings Beat

AerCap Holdings (NYSE:AER) hit a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The company traded as high as $89.93 and last traded at $89.23, with a volume of 632127 shares traded. The stock had previously closed at $87.44.

The financial services provider reported $3.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.98. AerCap had a net margin of 42.78% and a return on equity of 15.29%. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the prior year, the business posted $2.34 earnings per share. AerCap’s revenue for the quarter was up 8.1% compared to the same quarter last year.

AerCap Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Wednesday, May 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Tuesday, May 21st. AerCap’s dividend payout ratio is currently 6.51%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AER. Deutsche Bank Aktiengesellschaft lifted their price objective on AerCap from $95.00 to $110.00 and gave the company a “buy” rating in a report on Thursday. TD Cowen boosted their target price on shares of AerCap from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays increased their target price on shares of AerCap from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. BMO Capital Markets cut their price objective on shares of AerCap from $103.00 to $101.00 and set an “outperform” rating for the company in a research report on Monday, February 26th. Finally, Susquehanna lifted their price target on shares of AerCap from $90.00 to $100.00 and gave the stock a “positive” rating in a research note on Thursday, May 2nd. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of $94.38.

Institutional Trading of AerCap

Hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James & Associates grew its holdings in AerCap by 68.2% in the 3rd quarter. Raymond James & Associates now owns 29,961 shares of the financial services provider’s stock worth $1,878,000 after buying an additional 12,144 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in AerCap by 6.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 92,845 shares of the financial services provider’s stock worth $5,819,000 after buying an additional 5,341 shares during the period. Park Avenue Securities LLC purchased a new position in shares of AerCap during the third quarter valued at $711,000. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in AerCap by 2.6% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 381,510 shares of the financial services provider’s stock worth $23,909,000 after buying an additional 9,829 shares during the last quarter. Finally, CIBC Asset Management Inc grew its holdings in AerCap by 14.3% during the third quarter. CIBC Asset Management Inc now owns 15,383 shares of the financial services provider’s stock valued at $964,000 after purchasing an additional 1,921 shares during the last quarter. 96.42% of the stock is owned by hedge funds and other institutional investors.

AerCap Stock Performance

The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 2.70. The company has a market cap of $18.18 billion, a P/E ratio of 5.97, a P/E/G ratio of 2.99 and a beta of 1.84. The firm’s fifty day moving average price is $84.96 and its 200-day moving average price is $76.39.

AerCap Company Profile

AerCap Holdings N.V. engages in the lease, financing, sale, and management of commercial flight equipment in China, Hong Kong, Macau, the United States, Ireland, and internationally. The company offers aircraft asset management services, such as remarketing aircraft and engines; collecting rental and maintenance rent payments, monitoring aircraft maintenance, monitoring and enforcing contract compliance, and accepting delivery and redelivery of aircraft and engines; and conducting ongoing lessee financial performance reviews.