Fly Leasing Ltd. (FLY) Given Average Rating of “Buy” by Brokerages
Fly Leasing Ltd. (NYSE:FLY) has been given an average recommendation of “Buy” by the seven brokerages that are covering the company. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $16.50.
FLY has been the topic of a number of recent research reports. Zacks Investment Research raised Fly Leasing from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. Deutsche Bank AG boosted their price objective on Fly Leasing from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Citigroup Inc. lowered their price objective on Fly Leasing from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, August 19th. Bank of America Corp. set a $16.00 price objective on Fly Leasing and gave the stock a “hold” rating in a research note on Saturday. Finally, Cowen and Company boosted their price objective on Fly Leasing from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, July 29th.
Shares of Fly Leasing (NYSE:FLY) traded up 2.00% during trading on Monday, hitting $13.76. The stock had a trading volume of 138,123 shares. The company’s 50 day moving average price is $12.23 and its 200 day moving average price is $11.66. Fly Leasing has a 12 month low of $9.54 and a 12 month high of $14.03. The stock has a market cap of $446.55 million, a price-to-earnings ratio of 9.20 and a beta of 0.88.
Fly Leasing (NYSE:FLY) last released its quarterly earnings data on Thursday, November 17th. The company reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.16. The company had revenue of $85.30 million for the quarter, compared to analyst estimates of $84.40 million. Fly Leasing had a return on equity of 17.29% and a net margin of 16.48%. The firm’s revenue for the quarter was down 24.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 earnings per share. Equities research analysts expect that Fly Leasing will post $1.25 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in FLY. Telemus Capital LLC acquired a new position in shares of Fly Leasing during the third quarter valued at approximately $116,000. Ameriprise Financial Inc. purchased a new stake in Fly Leasing during the third quarter valued at about $132,000. Cubist Systematic Strategies LLC increased its stake in Fly Leasing by 1.5% in the second quarter. Cubist Systematic Strategies LLC now owns 13,859 shares of the company’s stock valued at $138,000 after buying an additional 201 shares in the last quarter. Westport Resources Management Inc. increased its stake in Fly Leasing by 25.2% in the second quarter. Westport Resources Management Inc. now owns 15,900 shares of the company’s stock valued at $158,000 after buying an additional 3,200 shares in the last quarter. Finally, Commonwealth Equity Services Inc increased its stake in Fly Leasing by 0.6% in the second quarter. Commonwealth Equity Services Inc now owns 17,700 shares of the company’s stock valued at $176,000 after buying an additional 113 shares in the last quarter. 55.16% of the stock is currently owned by institutional investors and hedge funds.
Fly Leasing Company Profile
Fly Leasing Limited is engaged in purchasing commercial aircraft, which it leases under multi-year contracts to a range of airlines. The Company operates through aircraft leasing segment. 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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