Equities research analysts forecast that Fly Leasing Ltd (NYSE:FLY) will post $148.15 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Fly Leasing’s earnings, with estimates ranging from $148.14 million to $148.15 million. Fly Leasing reported sales of $104.57 million during the same quarter last year, which indicates a positive year-over-year growth rate of 41.7%. The firm is expected to report its next quarterly earnings report on Thursday, November 14th.
According to Zacks, analysts expect that Fly Leasing will report full-year sales of $529.74 million for the current financial year, with estimates ranging from $529.02 million to $530.45 million. For the next financial year, analysts expect that the company will report sales of $452.03 million, with estimates ranging from $440.53 million to $463.53 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Fly Leasing.
Fly Leasing (NYSE:FLY) last posted its quarterly earnings results on Thursday, August 22nd. The transportation company reported $1.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.47. Fly Leasing had a return on equity of 22.62% and a net margin of 29.64%. The company 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 earned $0.90 EPS. The business’s quarterly revenue was up 43.1% on a year-over-year basis.
Hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC raised its stake in shares of Fly Leasing by 211.0% in the 2nd quarter. Parallel Advisors LLC now owns 1,813 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 1,230 shares in the last quarter. Bogle Investment Management L P DE bought a new position in shares of Fly Leasing in the 2nd quarter valued at approximately $357,000. Cubist Systematic Strategies LLC raised its stake in shares of 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 acquiring an additional 33,864 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Fly Leasing in the 2nd quarter valued at approximately $818,000. Finally, Aperio Group LLC raised its stake in shares of Fly Leasing by 24.0% in the 2nd quarter. Aperio Group LLC now owns 75,343 shares of the transportation company’s stock valued at $1,312,000 after acquiring an additional 14,588 shares in the last quarter. 43.55% of the stock is currently owned by institutional investors and hedge funds.
Shares of FLY traded down $0.35 during midday trading on Wednesday, reaching $20.80. 150,221 shares of the stock were exchanged, compared to its average volume of 372,788. Fly Leasing has a 12-month low of $10.42 and a 12-month high of $22.11. The firm has a 50 day simple moving average of $19.23 and a 200-day simple moving average of $16.43. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 3.56. The company has a market cap of $646.25 million, a price-to-earnings ratio of 6.80 and a beta of 0.87.
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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