Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. upgraded Fly Leasing from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $23.00 to $27.50 in a research report on Monday, October 21st. Zacks Investment Research lowered Fly Leasing from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 29th. Finally, Compass Point set a $23.00 price objective on Fly Leasing and gave the company a “buy” rating in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $23.13.
Shares of NYSE FLY opened at $19.17 on Friday. Fly Leasing has a twelve month low of $10.42 and a twelve month high of $23.21. The company has a current ratio of 1.51, a quick ratio of 1.17 and a debt-to-equity ratio of 3.17. The company has a market capitalization of $600.62 million, a price-to-earnings ratio of 6.26 and a beta of 0.83. The business has a 50 day simple moving average of $20.17 and a 200-day simple moving average of $18.19.
Fly Leasing (NYSE:FLY) last issued its quarterly earnings results on Friday, November 8th. The transportation company reported $1.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.91 by $0.02. Fly Leasing had a return on equity of 26.68% and a net margin of 33.46%. The business had revenue of $139.00 million during the quarter, compared to the consensus estimate of $148.20 million. During the same period in the previous year, the business earned $0.75 EPS. The business’s quarterly revenue was up 32.9% on a year-over-year basis. As a group, equities analysts predict that Fly Leasing will post 6.36 earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in FLY. Parallel Advisors LLC boosted its position in Fly Leasing by 211.0% during the 2nd quarter. Parallel Advisors LLC now owns 1,813 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 1,230 shares during the period. BB&T Securities LLC acquired a new position in Fly Leasing during the 3rd quarter valued at approximately $223,000. State of New Jersey Common Pension Fund D acquired a new position in Fly Leasing during the 3rd quarter valued at approximately $238,000. Vestmark Advisory Solutions Inc. acquired a new position in Fly Leasing during the 3rd quarter valued at approximately $271,000. Finally, Bogle Investment Management L P DE acquired a new position in Fly Leasing during the 2nd quarter valued at approximately $357,000. Institutional investors and hedge funds own 40.47% of the company’s stock.
Fly Leasing Company Profile
Fly Leasing Limited, through its subsidiaries, purchases and leases commercial aircraft under multi-year contracts to various airlines worldwide. As of December 31, 2018, it had a portfolio of 101 aircraft, including 90 narrow-body passenger aircraft and 11 wide-body passenger aircraft, as well as 7 engines.
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