AerCap (AER) Shares Gap Up After Strong Earnings
Shares of AerCap Holdings (NYSE:AER) gapped up before the market opened on Wednesday following a better than expected earnings announcement. The stock had previously closed at $50.32, but opened at $51.66. AerCap shares last traded at $52.67, with a volume of 2096145 shares traded.
The financial services provider reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.29. The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.23 billion. AerCap had a return on equity of 13.84% and a net margin of 22.84%. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same period last year, the firm posted $2.01 earnings per share.
AerCap declared that its Board of Directors has initiated a stock repurchase program on Thursday, November 2nd that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of AerCap by 2.9% during the 4th quarter. BlackRock Inc. now owns 7,015,219 shares of the financial services provider’s stock valued at $369,070,000 after buying an additional 197,040 shares in the last quarter. Cambiar Investors LLC lifted its position in shares of AerCap by 0.8% during the 4th quarter. Cambiar Investors LLC now owns 6,613,719 shares of the financial services provider’s stock valued at $347,948,000 after buying an additional 54,888 shares in the last quarter. Lyrical Asset Management LP lifted its position in shares of AerCap by 2.4% during the 4th quarter. Lyrical Asset Management LP now owns 5,161,531 shares of the financial services provider’s stock valued at $271,548,000 after buying an additional 119,096 shares in the last quarter. Neuberger Berman Group LLC lifted its position in shares of AerCap by 7.5% during the 3rd quarter. Neuberger Berman Group LLC now owns 3,320,387 shares of the financial services provider’s stock valued at $169,705,000 after buying an additional 230,716 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of AerCap by 135.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,242,647 shares of the financial services provider’s stock valued at $117,986,000 after buying an additional 1,288,455 shares in the last quarter. 85.34% of the stock is currently owned by hedge funds and other institutional investors.
The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 3.17. The firm has a market capitalization of $8,320.00, a PE ratio of 7.79, a price-to-earnings-growth ratio of 0.69 and a beta of 1.79.
AerCap Holdings N.V. is an independent aircraft leasing company. The Company focuses on acquiring in-demand aircraft, funding them, hedging interest rate risk and using its platform to deploy these assets. It operates its business on a global basis, leasing aircraft to customers in various geographical regions.
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