Fly Leasing (NYSE:FLY) was upgraded by equities researchers at TheStreet from a “d+” rating to a “c-” rating in a note issued to investors on Wednesday, September 19th.
Several other equities research analysts have also recently commented on FLY. Zacks Investment Research raised Fly Leasing from a “sell” rating to a “hold” rating in a research note on Monday, May 28th. ValuEngine raised Fly Leasing from a “hold” rating to a “buy” rating in a research note on Tuesday, May 29th. Finally, Citigroup raised their target price on Fly Leasing from $14.00 to $14.50 and gave the stock a “sell” rating in a research note on Friday, August 24th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $19.13.
Shares of FLY stock traded up $0.27 on Wednesday, hitting $13.60. The company had a trading volume of 70,049 shares, compared to its average volume of 111,217. The stock has a market cap of $404.64 million, a price-to-earnings ratio of 151.11, a PEG ratio of 0.61 and a beta of 1.03. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 4.29. Fly Leasing has a twelve month low of $11.54 and a twelve month high of $15.32.
Fly Leasing (NYSE:FLY) last issued its quarterly earnings results on Thursday, August 23rd. The transportation company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.18. Fly Leasing had a return on equity of 5.79% and a net margin of 7.43%. The company had revenue of $99.30 million during the quarter, compared to analysts’ expectations of $98.62 million. During the same quarter in the prior year, the firm posted $0.31 earnings per share. The business’s quarterly revenue was up 25.4% on a year-over-year basis. Sell-side analysts forecast that Fly Leasing will post 2.3 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC acquired a new stake in Fly Leasing during the first quarter worth approximately $269,000. Trexquant Investment LP acquired a new stake in Fly Leasing during the first quarter worth approximately $286,000. Cozad Asset Management Inc. acquired a new stake in Fly Leasing during the second quarter worth approximately $316,000. Campbell & CO Investment Adviser LLC grew its stake in Fly Leasing by 67.2% during the second quarter. Campbell & CO Investment Adviser LLC now owns 22,467 shares of the transportation company’s stock worth $317,000 after purchasing an additional 9,028 shares during the period. Finally, Mount Yale Investment Advisors LLC acquired a new stake in Fly Leasing during the second quarter worth approximately $344,000. 49.15% of the stock is owned by institutional investors and hedge funds.
Fly Leasing Company Profile
Fly Leasing Limited, through its subsidiaries, purchases and leases commercial aircrafts under multi-year contracts to various airlines worldwide. As of December 31, 2017, the company had a portfolio of 85 aircrafts, including 73 narrow-body passenger aircrafts and 12 wide-body passenger aircrafts. Fly Leasing Limited was founded in 2007 and is headquartered in Dún Laoghaire, Ireland.
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