Fly Leasing (NYSE:FLY) Announces Quarterly Earnings Results, Beats Estimates By $0.47 EPS

Fly Leasing (NYSE:FLY) released its quarterly earnings data on Thursday. The transportation company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.47, Morningstar.com reports. Fly Leasing had a return on equity of 18.59% and a net margin of 26.08%. The firm had revenue of $147.00 million during the quarter, compared to the consensus estimate of $140.40 million. During the same period last year, the business posted $0.90 EPS. Fly Leasing’s quarterly revenue was up 43.1% on a year-over-year basis.

NYSE FLY opened at $20.00 on Friday. Fly Leasing has a 1-year low of $10.42 and a 1-year high of $21.24. The company has a market capitalization of $574.00 million, a P/E ratio of 6.54 and a beta of 0.92. The business has a 50 day moving average price of $17.23 and a 200 day moving average price of $15.14. The company has a debt-to-equity ratio of 3.86, a current ratio of 1.10 and a quick ratio of 1.10.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC increased its stake in Fly Leasing by 300.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 45,133 shares of the transportation company’s stock valued at $786,000 after purchasing an additional 33,864 shares in the last quarter. Morgan Stanley grew its holdings in Fly Leasing by 17.5% during the 2nd quarter. Morgan Stanley now owns 2,085,584 shares of the transportation company’s stock valued at $36,310,000 after buying an additional 309,922 shares during the last quarter. Bogle Investment Management L P DE acquired a new stake in Fly Leasing during the 2nd quarter valued at $357,000. Renaissance Technologies LLC grew its holdings in Fly Leasing by 139.9% during the 2nd quarter. Renaissance Technologies LLC now owns 286,200 shares of the transportation company’s stock valued at $4,983,000 after buying an additional 166,900 shares during the last quarter. Finally, Monarch Partners Asset Management LLC grew its holdings in Fly Leasing by 2.9% during the 2nd quarter. Monarch Partners Asset Management LLC now owns 171,795 shares of the transportation company’s stock valued at $2,991,000 after buying an additional 4,810 shares during the last quarter. 42.06% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently weighed in on FLY shares. Zacks Investment Research downgraded Fly Leasing from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. ValuEngine raised Fly Leasing from a “sell” rating to a “hold” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $17.17.

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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Earnings History for Fly Leasing (NYSE:FLY)

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