$216.18 Million in Sales Expected for Aircastle Limited (AYR) This Quarter

Equities research analysts predict that Aircastle Limited (NYSE:AYR) will post sales of $216.18 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Aircastle’s earnings, with estimates ranging from $215.23 million to $216.80 million. Aircastle posted sales of $177.40 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 21.9%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, February 12th.

On average, analysts expect that Aircastle will report full year sales of $813.96 million for the current year, with estimates ranging from $813.01 million to $814.58 million. For the next year, analysts anticipate that the business will post sales of $892.26 million, with estimates ranging from $883.50 million to $906.23 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Aircastle.

Aircastle (NYSE:AYR) last issued its quarterly earnings results on Thursday, November 1st. The transportation company reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.06. Aircastle had a return on equity of 10.26% and a net margin of 25.70%. The firm had revenue of $190.80 million during the quarter, compared to analyst estimates of $192.78 million. During the same period last year, the company earned $0.82 EPS. Aircastle’s quarterly revenue was down 10.5% compared to the same quarter last year.

A number of equities research analysts recently issued reports on the company. ValuEngine raised Aircastle from a “sell” rating to a “hold” rating in a research note on Thursday, September 27th. Zacks Investment Research raised Aircastle from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Tuesday, October 9th. Finally, Cowen raised Aircastle from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $24.00 to $26.00 in a research report on Thursday, September 27th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $24.33.

Shares of AYR stock traded up $0.08 on Tuesday, reaching $18.65. 431,916 shares of the company’s stock were exchanged, compared to its average volume of 325,374. Aircastle has a 52 week low of $17.86 and a 52 week high of $25.30. The firm has a market capitalization of $1.42 billion, a P/E ratio of 9.97, a P/E/G ratio of 0.75 and a beta of 1.75.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, November 29th. This is a positive change from Aircastle’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a yield of 6.43%. Aircastle’s payout ratio is 64.17%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Thrivent Financial for Lutherans bought a new stake in Aircastle during the 3rd quarter valued at $203,000. Raymond James Trust N.A. bought a new position in shares of Aircastle in the 3rd quarter worth $206,000. Violich Capital Management Inc. bought a new position in shares of Aircastle in the 2nd quarter worth $200,000. Point72 Hong Kong Ltd bought a new position in shares of Aircastle in the 2nd quarter worth $201,000. Finally, Yorktown Management & Research Co Inc bought a new position in shares of Aircastle in the 2nd quarter worth $205,000. 59.40% of the stock is owned by institutional investors and hedge funds.

Aircastle Company Profile

Aircastle Limited, through its subsidiaries, leases, finances, sells, and manages commercial flight equipment to airlines worldwide. The company also invests in other aviation assets. As of December 31, 2017, its aircraft portfolio comprised 236 aircraft leased to 81 lessees located in 43 countries. Aircastle Limited was founded in 2004 and is based in Stamford, Connecticut.

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