$0.63 Earnings Per Share Expected for Aircastle Limited (AYR) This Quarter

Wall Street brokerages expect Aircastle Limited (NYSE:AYR) to report earnings of $0.63 per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Aircastle’s earnings, with the lowest EPS estimate coming in at $0.57 and the highest estimate coming in at $0.67. Aircastle posted earnings of $0.72 per share in the same quarter last year, which indicates a negative year over year growth rate of 12.5%. The company is scheduled to announce its next quarterly earnings report on Tuesday, February 12th.

According to Zacks, analysts expect that Aircastle will report full year earnings of $2.51 per share for the current financial year, with EPS estimates ranging from $2.41 to $2.55. For the next financial year, analysts forecast that the firm will report earnings of $2.58 per share, with EPS estimates ranging from $2.47 to $2.70. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Aircastle.

Aircastle (NYSE:AYR) last announced its earnings results on Thursday, November 1st. The transportation company reported $0.49 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.06. The business had revenue of $190.80 million during the quarter, compared to the consensus estimate of $192.78 million. Aircastle had a net margin of 25.70% and a return on equity of 10.26%. The firm’s revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.82 earnings per share.

AYR has been the subject of a number of recent research reports. Cowen upgraded shares of Aircastle from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $24.00 to $26.00 in a report on Thursday, September 27th. ValuEngine upgraded shares of Aircastle from a “strong sell” rating to a “sell” rating in a report on Friday, August 17th. Finally, Zacks Investment Research downgraded shares of Aircastle from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Six investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $24.33.

In other Aircastle news, Director Ronald Merriman sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $21.26, for a total value of $159,450.00. Following the sale, the director now owns 21,024 shares in the company, valued at approximately $446,970.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.80% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in AYR. Millennium Management LLC boosted its position in Aircastle by 62.8% in the 1st quarter. Millennium Management LLC now owns 119,079 shares of the transportation company’s stock worth $2,365,000 after purchasing an additional 45,913 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Aircastle by 12.4% during the 1st quarter. Royal Bank of Canada now owns 151,831 shares of the transportation company’s stock valued at $3,016,000 after buying an additional 16,760 shares in the last quarter. Xact Kapitalforvaltning AB purchased a new position in shares of Aircastle during the 1st quarter valued at approximately $357,000. FormulaFolio Investments LLC purchased a new position in shares of Aircastle during the 2nd quarter valued at approximately $468,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of Aircastle during the 2nd quarter valued at approximately $573,000. Institutional investors and hedge funds own 57.75% of the company’s stock.

Aircastle stock traded up $0.15 during trading hours on Friday, reaching $20.10. The stock had a trading volume of 11,213 shares, compared to its average volume of 414,354. The company has a market capitalization of $1.55 billion, a PE ratio of 10.69, a P/E/G ratio of 0.85 and a beta of 1.75. Aircastle has a 52 week low of $17.86 and a 52 week high of $25.30.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 5.97%. The ex-dividend date is Thursday, November 29th. This is an increase from Aircastle’s previous quarterly dividend of $0.28. Aircastle’s dividend payout ratio is 59.89%.

Aircastle Company Profile

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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