Fly Leasing Ltd. (FLY) Given Consensus Recommendation of “Hold” by Brokerages
Fly Leasing Ltd. (NYSE:FLY) has been given an average rating of “Hold” by the seven research firms that are covering the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $16.00.
Several research analysts recently weighed in on the company. Zacks Investment Research raised Fly Leasing from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th. Cowen and Company increased their target price on Fly Leasing from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Friday, July 29th. Deutsche Bank AG increased their target price on Fly Leasing from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Citigroup Inc. cut their target price on Fly Leasing from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, August 19th. Finally, TheStreet raised Fly Leasing from a “sell” rating to a “hold” rating in a research report on Monday, August 22nd.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hawkeye Capital Management LLC bought a new position in Fly Leasing during the second quarter valued at approximately $17,402,000. Donald Smith & CO. Inc. raised its position in Fly Leasing by 56.7% in the second quarter. Donald Smith & CO. Inc. now owns 2,459,903 shares of the company’s stock valued at $24,427,000 after buying an additional 890,368 shares during the period. Mizuho Trust & Banking Co. Ltd. raised its position in Fly Leasing by 588.4% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 250,605 shares of the company’s stock valued at $2,489,000 after buying an additional 214,200 shares during the period. Bank of Montreal Can bought a new position in Fly Leasing during the second quarter valued at approximately $1,362,000. Finally, Numeric Investors LLC raised its position in Fly Leasing by 71.7% in the second quarter. Numeric Investors LLC now owns 290,323 shares of the company’s stock valued at $2,883,000 after buying an additional 121,200 shares during the period. 52.91% of the stock is currently owned by institutional investors.
Fly Leasing (NYSE:FLY) traded down 0.59% on Monday, hitting $11.87. The stock had a trading volume of 84,802 shares. Fly Leasing has a one year low of $9.54 and a one year high of $14.03. The company’s 50-day moving average is $11.85 and its 200-day moving average is $11.58. The stock has a market cap of $395.83 million, a P/E ratio of 7.71 and a beta of 1.03.
Fly Leasing (NYSE:FLY) last issued its earnings results on Thursday, July 28th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.12. The business had revenue of $76.34 million for the quarter, compared to analyst estimates of $80.88 million. Fly Leasing had a return on equity of 19.23% and a net margin of 14.69%. The business’s quarterly revenue was down 25.0% on a year-over-year basis. During the same period last year, the company posted $0.23 EPS. On average, analysts anticipate that Fly Leasing will post $1.26 earnings per share for the current fiscal year.
About Fly Leasing
Fly Leasing Limited (Fly) is engaged in purchasing commercial aircraft which it leases under multi-year contracts to a range of airlines throughout the world. As of December 31, 2014, the Company’s aircraft portfolio consisted of 127 commercial jet aircraft, consisting of 116 narrow-body passenger aircraft, including two freighters, and 11 wide-body passenger aircraft.
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