Equities analysts predict that Fly Leasing Ltd (NYSE:FLY) will report sales of $115.37 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Fly Leasing’s earnings. The lowest sales estimate is $114.20 million and the highest is $116.53 million. Fly Leasing posted sales of $107.93 million in the same quarter last year, which suggests a positive year-over-year growth rate of 6.9%. The business is expected to announce its next earnings report on Thursday, March 14th.
On average, analysts expect that Fly Leasing will report full year sales of $406.50 million for the current fiscal year, with estimates ranging from $396.78 million to $412.53 million. For the next fiscal year, analysts expect that the business will post sales of $445.15 million, with estimates ranging from $418.83 million to $473.60 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Fly Leasing.
Fly Leasing (NYSE:FLY) last posted its earnings results on Thursday, November 8th. The transportation company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.28. Fly Leasing had a net margin of 15.32% and a return on equity of 11.41%. The business had revenue of $104.60 million for the quarter, compared to the consensus estimate of $100.68 million. During the same quarter last year, the firm posted ($0.34) EPS. The company’s revenue for the quarter was up 21.3% on a year-over-year basis.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Fly Leasing from a “buy” rating to a “hold” rating in a research report on Tuesday, October 23rd. TheStreet raised shares of Fly Leasing from a “d+” rating to a “c-” rating in a research report on Wednesday, September 19th. Finally, ValuEngine downgraded shares of Fly Leasing from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. Three analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $18.63.
A number of hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley boosted its stake in Fly Leasing by 9.2% in the 3rd quarter. Morgan Stanley now owns 1,727,389 shares of the transportation company’s stock worth $24,357,000 after purchasing an additional 145,342 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Fly Leasing during the 3rd quarter valued at approximately $218,000. Panagora Asset Management Inc. acquired a new stake in Fly Leasing during the 3rd quarter valued at approximately $114,000. ClariVest Asset Management LLC acquired a new stake in Fly Leasing during the 3rd quarter valued at approximately $251,000. Finally, JPMorgan Chase & Co. lifted its stake in Fly Leasing by 109.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 64,187 shares of the transportation company’s stock valued at $905,000 after acquiring an additional 33,536 shares during the period. Institutional investors own 50.26% of the company’s stock.
Shares of Fly Leasing stock traded up $0.26 on Wednesday, reaching $11.61. The stock had a trading volume of 92,067 shares, compared to its average volume of 154,738. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 4.44. Fly Leasing has a 1 year low of $10.42 and a 1 year high of $15.32. The company has a market cap of $316.54 million, a P/E ratio of 129.00, a PEG ratio of 0.40 and a beta of 1.02.
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.
See Also: Capital gains and your 401(k) or IRA
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Fly Leasing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fly Leasing and related companies with MarketBeat.com's FREE daily email newsletter.