Brokerages Anticipate Fly Leasing Limited (FLY) Will Post Quarterly Sales of $89.03 Million
Wall Street brokerages forecast that Fly Leasing Limited (NYSE:FLY) will announce $89.03 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Fly Leasing Limited’s earnings. The highest sales estimate is $91.14 million and the lowest is $85.60 million. Fly Leasing Limited reported sales of $80.68 million in the same quarter last year, which would suggest a positive year over year growth rate of 10.3%. The firm is scheduled to report its next earnings report on Thursday, November 16th.
On average, analysts expect that Fly Leasing Limited will report full year sales of $89.03 million for the current financial year, with estimates ranging from $335.97 million to $350.88 million. For the next fiscal year, analysts anticipate that the business will report sales of $399.31 million per share, with estimates ranging from $375.63 million to $426.11 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Fly Leasing Limited.
Fly Leasing Limited (NYSE:FLY) last issued its quarterly earnings data on Thursday, August 10th. The transportation company reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.02. The company had revenue of $79.21 million for the quarter, compared to analyst estimates of $83.17 million. Fly Leasing Limited had a negative net margin of 9.68% and a positive return on equity of 11.37%. Fly Leasing Limited’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $0.45 earnings per share.
A number of equities research analysts have issued reports on FLY shares. Zacks Investment Research lowered shares of Fly Leasing Limited from a “hold” rating to a “sell” rating in a report on Wednesday, May 10th. ValuEngine lowered shares of Fly Leasing Limited from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. BidaskClub raised shares of Fly Leasing Limited from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Finally, Royal Bank Of Canada reissued a “buy” rating on shares of Fly Leasing Limited in a research report on Friday, April 21st. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Fly Leasing Limited presently has an average rating of “Buy” and an average price target of $16.90.
Several large investors have recently made changes to their positions in FLY. Ameriprise Financial Inc. increased its stake 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 worth $170,000 after buying an additional 817 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in Fly Leasing Limited by 31.5% in the first quarter. Parametric Portfolio Associates LLC now owns 17,394 shares of the transportation company’s stock worth $228,000 after buying an additional 4,163 shares during the period. Trexquant Investment LP bought a new position in Fly Leasing Limited during the first quarter worth approximately $234,000. Raymond James Financial Services Advisors Inc. increased its position in Fly Leasing Limited by 4.9% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 20,654 shares of the transportation company’s stock worth $271,000 after buying an additional 966 shares during the period. Finally, Atlantic Trust Group LLC increased its position in Fly Leasing Limited by 13.9% in the first quarter. Atlantic Trust Group LLC now owns 23,350 shares of the transportation company’s stock worth $306,000 after buying an additional 2,850 shares during the period. 50.48% of the stock is currently owned by institutional investors.
Shares of Fly Leasing Limited (FLY) traded down 0.68% during trading on Wednesday, reaching $13.13. 73,885 shares of the company traded hands. The firm’s 50 day moving average price is $13.72 and its 200-day moving average price is $13.36. Fly Leasing Limited has a 52 week low of $11.41 and a 52 week high of $14.45. The company’s market capitalization is $396.18 million.
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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