Analysts Anticipate Fly Leasing Limited (FLY) to Announce $0.38 EPS

Brokerages forecast that Fly Leasing Limited (NYSE:FLY) will announce earnings per share of $0.38 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Fly Leasing Limited’s earnings. The highest EPS estimate is $0.45 and the lowest is $0.28. Fly Leasing Limited reported earnings per share of $0.53 in the same quarter last year, which would indicate a negative year-over-year growth rate of 28.3%. The company is scheduled to report its next earnings report before the market opens on Thursday, November 9th.

On average, analysts expect that Fly Leasing Limited will report full-year earnings of $1.02 per share for the current fiscal year, with EPS estimates ranging from $0.80 to $1.24. For the next fiscal year, analysts forecast that the company will report earnings of $2.08 per share, with EPS estimates ranging from $1.90 to $2.40. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Fly Leasing Limited.

Fly Leasing Limited (NYSE:FLY) last posted its quarterly earnings data on Thursday, August 10th. The transportation company reported $0.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.02. Fly Leasing Limited had a positive return on equity of 11.37% and a negative net margin of 9.68%. The firm had revenue of $79.21 million during the quarter, compared to the consensus estimate of $83.17 million. During the same period in the prior year, the company earned $0.45 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year.

A number of research firms have commented on FLY. Cowen and Company reiterated a “buy” rating and set a $16.00 target price on shares of Fly Leasing Limited in a research report on Tuesday, September 19th. ValuEngine upgraded Fly Leasing Limited from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Compass Point reiterated a “buy” rating and set a $19.00 target price (up from $17.00) on shares of Fly Leasing Limited in a research report on Tuesday, October 3rd. BidaskClub downgraded Fly Leasing Limited from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Finally, Zacks Investment Research downgraded Fly Leasing Limited from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $17.60.

Large investors have recently modified their holdings of the company. Ameriprise Financial Inc. lifted its position in shares of Fly Leasing Limited by 6.7% in the first quarter. Ameriprise Financial Inc. now owns 12,994 shares of the transportation company’s stock valued at $170,000 after acquiring an additional 817 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Fly Leasing Limited by 44.1% in the second quarter. Russell Investments Group Ltd. now owns 247,957 shares of the transportation company’s stock valued at $3,335,000 after acquiring an additional 75,926 shares in the last quarter. Morgan Stanley lifted its position in shares of Fly Leasing Limited by 9.0% in the first quarter. Morgan Stanley now owns 1,167,042 shares of the transportation company’s stock valued at $15,312,000 after acquiring an additional 96,040 shares in the last quarter. Dalton Greiner Hartman Maher & Co. lifted its position in shares of Fly Leasing Limited by 9.9% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 159,183 shares of the transportation company’s stock valued at $2,141,000 after acquiring an additional 14,403 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of Fly Leasing Limited by 12.1% in the first quarter. California Public Employees Retirement System now owns 102,700 shares of the transportation company’s stock valued at $1,347,000 after acquiring an additional 11,100 shares in the last quarter. Institutional investors and hedge funds own 46.90% of the company’s stock.

Fly Leasing Limited (NYSE:FLY) traded up 0.174% on Friday, reaching $14.405. The company had a trading volume of 30,041 shares. Fly Leasing Limited has a 52-week low of $11.85 and a 52-week high of $14.65. The company’s market capitalization is $434.67 million. The company’s 50-day moving average is $13.91 and its 200-day moving average is $13.41.

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About Fly Leasing Limited

Fly Leasing Limited is engaged in purchasing commercial aircraft, which it leases under multi-year contracts to a range of airlines throughout the world. The Company primarily acquires aircraft by entering into purchase and leaseback transactions with airlines for new aircraft; purchasing portfolios, which consists of aircraft of various types and ages, and acquiring individual aircraft.

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