Zacks Investment Research lowered shares of Aircastle Limited (NYSE:AYR) from a buy rating to a hold rating in a research note released on Wednesday morning.
According to Zacks, “AIRCASTLE LTD are a global company that acquires and leases high utility commercial jet aircraft to passenger and cargo airlines throughout the world. High utility aircraft are generally modern, operationally efficient jets with a large operator base and long useful lives. They also make investments in other aviation assets, including debt securities secured by commercial jet aircraft. “
Other analysts have also recently issued reports about the company. Wells Fargo & Company restated a market perform rating and issued a $24.00 price objective (down from $26.00) on shares of Aircastle Limited in a research report on Thursday, May 25th. Royal Bank of Canada reaffirmed a hold rating and issued a $25.00 price target on shares of Aircastle Limited in a research note on Friday, April 21st. Finally, FBR & Co lowered their price target on Aircastle Limited from $27.50 to $26.00 and set a market perform rating on the stock in a research note on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $24.20.
Shares of Aircastle Limited (NYSE:AYR) opened at 21.61 on Wednesday. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 10.81 and a beta of 1.80. The stock’s 50 day moving average is $21.95 and its 200 day moving average is $22.67. Aircastle Limited has a 52-week low of $18.26 and a 52-week high of $25.98.
Aircastle Limited (NYSE:AYR) last announced its quarterly earnings data on Thursday, May 4th. The transportation company reported $0.58 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.58. Aircastle Limited had a return on equity of 8.88% and a net margin of 19.81%. The firm had revenue of $204.30 million during the quarter, compared to analysts’ expectations of $204.22 million. During the same period last year, the business posted $0.56 earnings per share. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, equities analysts predict that Aircastle Limited will post $2.42 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st were given a dividend of $0.26 per share. The ex-dividend date was Friday, May 26th. This represents a $1.04 dividend on an annualized basis and a yield of 4.81%. Aircastle Limited’s payout ratio is 52.00%.
Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Aircastle Limited by 3.2% in the first quarter. Vanguard Group Inc. now owns 5,629,041 shares of the transportation company’s stock worth $135,829,000 after buying an additional 176,874 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Aircastle Limited by 6.9% in the first quarter. Dimensional Fund Advisors LP now owns 4,629,739 shares of the transportation company’s stock worth $111,716,000 after buying an additional 297,984 shares during the period. LSV Asset Management increased its position in shares of Aircastle Limited by 1.1% in the first quarter. LSV Asset Management now owns 3,909,745 shares of the transportation company’s stock worth $94,342,000 after buying an additional 43,254 shares during the period. Advisors Asset Management Inc. increased its position in shares of Aircastle Limited by 7.4% in the first quarter. Advisors Asset Management Inc. now owns 1,271,262 shares of the transportation company’s stock worth $30,676,000 after buying an additional 87,699 shares during the period. Finally, State Street Corp increased its position in shares of Aircastle Limited by 4.8% in the first quarter. State Street Corp now owns 1,080,807 shares of the transportation company’s stock worth $26,079,000 after buying an additional 49,617 shares during the period. 63.44% of the stock is owned by institutional investors.
About Aircastle Limited
Aircastle Limited is a holding company. The Company, through its subsidiaries, acquires, leases and sells commercial jet aircrafts to airlines. The Company is engaged in financing and managing commercial flight equipment. The Company manages its aircrafts in the United States, Ireland and Singapore. As of December 31, 2016, the Company owned and managed on behalf of its joint ventures 206 aircrafts leased to 71 lessees located in 36 countries.
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