Zacks Investment Research lowered shares of Aircastle Limited (NYSE:AYR) from a hold rating to a sell rating in a research note released on Monday.
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. “
A number of other equities research analysts have also recently weighed in on the company. Barclays PLC started coverage on Aircastle Limited in a report on Monday, July 10th. They set an equal weight rating and a $24.00 price target on the stock. Wells Fargo & Company reaffirmed a market perform rating and set a $24.00 price target (down previously from $26.00) on shares of Aircastle Limited in a report on Thursday, May 25th. FBR & Co cut their price target on Aircastle Limited from $27.50 to $26.00 and set a market perform rating on the stock in a report on Thursday, May 4th. Royal Bank Of Canada reaffirmed a hold rating and set a $25.00 price target on shares of Aircastle Limited in a report on Friday, April 21st. Finally, Cowen and Company reaffirmed a market perform rating and set a $26.00 price target (up previously from $25.00) on shares of Aircastle Limited in a report on Thursday, August 10th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $24.30.
Shares of Aircastle Limited (NYSE AYR) traded down 0.04% during trading on Monday, reaching $22.58. The company had a trading volume of 21,399 shares. The stock has a 50 day moving average of $22.55 and a 200 day moving average of $22.91. Aircastle Limited has a 52-week low of $18.26 and a 52-week high of $25.98. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 13.62 and a beta of 1.81.
Aircastle Limited (NYSE:AYR) last issued its earnings results on Tuesday, August 8th. The transportation company reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.61 by $0.58. Aircastle Limited had a return on equity of 7.41% and a net margin of 15.75%. The business had revenue of $223.53 million during the quarter, compared to the consensus estimate of $206.10 million. During the same period in the prior year, the business earned $0.31 EPS. The business’s revenue was up 17.7% on a year-over-year basis. Equities research analysts forecast that Aircastle Limited will post $2.03 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.60%. Aircastle Limited’s dividend payout ratio is presently 62.65%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new position in Aircastle Limited during the second quarter worth approximately $121,000. Russell Investments Group Ltd. bought a new position in Aircastle Limited during the fourth quarter worth approximately $172,000. 361 Capital LLC bought a new position in Aircastle Limited during the first quarter worth approximately $200,000. Principal Financial Group Inc. bought a new position in Aircastle Limited during the first quarter worth approximately $203,000. Finally, Violich Capital Management Inc. bought a new position in Aircastle Limited during the first quarter worth approximately $209,000. Institutional investors and hedge funds own 62.76% of the company’s stock.
Aircastle Limited Company Profile
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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