Zacks: Analysts Expect Fly Leasing Ltd (NYSE:FLY) Will Post Earnings of $1.45 Per Share

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Equities research analysts predict that Fly Leasing Ltd (NYSE:FLY) will post $1.45 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Fly Leasing’s earnings, with the highest EPS estimate coming in at $1.50 and the lowest estimate coming in at $1.43. Fly Leasing reported earnings per share of $0.90 in the same quarter last year, which indicates a positive year over year growth rate of 61.1%. The company is expected to issue its next earnings report before the market opens on Thursday, August 22nd.

On average, analysts expect that Fly Leasing will report full-year earnings of $3.93 per share for the current financial year, with EPS estimates ranging from $3.75 to $4.10. For the next financial year, analysts anticipate that the firm will post earnings of $3.33 per share, with EPS estimates ranging from $3.15 to $3.45. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Fly Leasing.

Fly Leasing (NYSE:FLY) last released its earnings results on Thursday, May 9th. The transportation company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.26. The company had revenue of $134.70 million for the quarter, compared to analyst estimates of $133.37 million. Fly Leasing had a return on equity of 18.59% and a net margin of 26.08%. Fly Leasing’s quarterly revenue was up 51.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 EPS.

FLY has been the topic of several analyst reports. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Zacks Investment Research lowered HEXO from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. Finally, Goldman Sachs Group reissued a “neutral” rating and set a $393.00 target price on shares of Boeing in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $17.17.

Hedge funds have recently made changes to their positions in the stock. PEAK6 Investments LLC bought a new stake in shares of Fly Leasing during the 4th quarter worth $111,000. Advisors Preferred LLC bought a new stake in shares of Fly Leasing during the 1st quarter worth $117,000. Sontag Advisory LLC bought a new stake in shares of Fly Leasing during the 4th quarter worth $466,000. Renaissance Group LLC lifted its position in shares of Fly Leasing by 2.5% during the 1st quarter. Renaissance Group LLC now owns 58,100 shares of the transportation company’s stock worth $804,000 after buying an additional 1,420 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of Fly Leasing during the 2nd quarter worth $818,000. Institutional investors and hedge funds own 44.87% of the company’s stock.

Shares of FLY traded down $0.34 during trading hours on Wednesday, hitting $17.17. 167,298 shares of the company were exchanged, compared to its average volume of 157,300. The stock has a market capitalization of $493.32 million, a P/E ratio of 5.61 and a beta of 0.90. Fly Leasing has a fifty-two week low of $10.42 and a fifty-two week high of $17.73. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 3.86. The business’s fifty day simple moving average is $16.90.

About Fly Leasing

Fly Leasing Limited, through its subsidiaries, purchases and leases commercial aircraft under multi-year contracts to various airlines worldwide. As of December 31, 2018, it had a portfolio of 101 aircraft, including 90 narrow-body passenger aircraft and 11 wide-body passenger aircraft, as well as 7 engines.

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