Brokerages expect that Fly Leasing Limited (NYSE:FLY) will announce $0.38 earnings per share (EPS) for the current quarter, Zacks reports. Three analysts have made estimates for Fly Leasing Limited’s earnings, with the lowest EPS estimate coming in at $0.28 and the highest estimate coming in at $0.45. Fly Leasing Limited posted earnings per share of $0.53 in the same quarter last year, which indicates a negative year over year growth rate of 28.3%. The firm is expected to report its next earnings results before the market opens on Thursday, November 9th.
On average, analysts expect that Fly Leasing Limited will report full year earnings of $1.02 per share for the current year, with EPS estimates ranging from $0.80 to $1.24. For the next fiscal year, analysts forecast that the firm will report earnings of $2.08 per share, with EPS estimates ranging from $1.90 to $2.40. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Fly Leasing Limited.
Fly Leasing Limited (NYSE:FLY) last posted its quarterly earnings data on Thursday, August 10th. The transportation company reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.02. The firm had revenue of $79.21 million during the quarter, compared to analysts’ expectations of $83.17 million. Fly Leasing Limited had a positive return on equity of 11.37% and a negative net margin of 9.68%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.45 EPS.
Several equities analysts have issued reports on FLY shares. Zacks Investment Research raised Fly Leasing Limited from a “sell” rating to a “hold” rating in a report on Monday, July 17th. ValuEngine lowered Fly Leasing Limited from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Cowen and Company reaffirmed a “buy” rating and set a $16.00 price objective on shares of Fly Leasing Limited in a report on Tuesday, September 19th. BidaskClub raised Fly Leasing Limited from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Finally, Compass Point reaffirmed a “buy” rating and set a $19.00 price objective (up previously from $17.00) on shares of Fly Leasing Limited in a report on Tuesday, October 3rd. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $17.60.
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A number of hedge funds have recently added to or reduced their stakes in the business. State Street Corp grew its stake in Fly Leasing Limited by 1.2% in the 2nd quarter. State Street Corp now owns 35,405 shares of the transportation company’s stock worth $476,000 after acquiring an additional 425 shares during the period. Ameriprise Financial Inc. grew its stake in Fly Leasing Limited by 6.7% in the 1st quarter. Ameriprise Financial Inc. now owns 12,994 shares of the transportation company’s stock worth $170,000 after acquiring an additional 817 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in Fly Leasing Limited by 4.9% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 20,654 shares of the transportation company’s stock worth $271,000 after acquiring an additional 966 shares during the period. Parametric Portfolio Associates LLC grew its stake in Fly Leasing Limited by 8.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 18,818 shares of the transportation company’s stock worth $253,000 after acquiring an additional 1,424 shares during the period. Finally, Renaissance Group LLC grew its stake in Fly Leasing Limited by 10.5% in the 2nd quarter. Renaissance Group LLC now owns 30,222 shares of the transportation company’s stock worth $406,000 after acquiring an additional 2,874 shares during the period. 46.90% of the stock is owned by hedge funds and other institutional investors.
Fly Leasing Limited Company Profile
Fly Leasing Limited is engaged in purchasing commercial aircraft, which it leases under multi-year contracts to a range of airlines throughout the world. The Company primarily acquires aircraft by entering into purchase and leaseback transactions with airlines for new aircraft; purchasing portfolios, which consists of aircraft of various types and ages, and acquiring individual aircraft.
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