Brokerages Expect Fly Leasing Ltd (NYSE:FLY) to Post $1.45 EPS

Equities research analysts expect that Fly Leasing Ltd (NYSE:FLY) will report $1.45 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have issued estimates for Fly Leasing’s earnings. The highest EPS estimate is $1.50 and the lowest is $1.43. Fly Leasing reported earnings of $0.90 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 61.1%. The firm is expected to issue its next earnings results before the market opens on Thursday, August 22nd.

According to Zacks, 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 forecast that the business will post earnings of $3.33 per share, with EPS estimates ranging from $3.15 to $3.45. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that follow Fly Leasing.

Fly Leasing (NYSE:FLY) last announced its earnings results on Thursday, May 9th. The transportation company reported $1.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.26. Fly Leasing had a return on equity of 18.59% and a net margin of 26.08%. The business had revenue of $134.70 million during the quarter, compared to analyst estimates of $133.37 million. During the same quarter in the previous year, the business earned $0.44 earnings per share. The company’s revenue for the quarter was up 51.8% compared to the same quarter last year.

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

Several large investors have recently made changes to their positions in the business. Renaissance Group LLC raised its stake in shares of Fly Leasing by 2.5% during the first quarter. Renaissance Group LLC now owns 58,100 shares of the transportation company’s stock valued at $804,000 after acquiring an additional 1,420 shares in the last quarter. SFE Investment Counsel raised its stake in shares of Fly Leasing by 2.0% during the first quarter. SFE Investment Counsel now owns 106,435 shares of the transportation company’s stock valued at $1,473,000 after acquiring an additional 2,050 shares in the last quarter. Advisors Preferred LLC bought a new stake in shares of Fly Leasing during the first quarter valued at approximately $117,000. PEAK6 Investments LLC bought a new stake in shares of Fly Leasing during the fourth quarter valued at approximately $111,000. Finally, Donald Smith & CO. Inc. raised its stake in shares of Fly Leasing by 0.6% during the first quarter. Donald Smith & CO. Inc. now owns 2,687,801 shares of the transportation company’s stock valued at $37,199,000 after acquiring an additional 17,229 shares in the last quarter. Institutional investors and hedge funds own 44.87% of the company’s stock.

Shares of NYSE:FLY traded down $0.34 during trading hours on Wednesday, hitting $17.17. 167,298 shares of the company’s stock traded hands, compared to its average volume of 157,300. Fly Leasing has a 1 year low of $10.42 and a 1 year high of $17.73. The firm has a fifty day simple moving average of $16.90. The firm has a market cap of $493.32 million, a price-to-earnings ratio of 5.61 and a beta of 0.90. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 3.86.

Fly Leasing Company Profile

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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