According to Zacks, “Fly Leasing Limited, formerly known as Babcock & Brown Air Limited, is engaged in acquiring and leasing modern, high-demand and fuel-efficient commercial jet aircraft under long-term contracts to a diverse group of airlines throughout the world. The Company’s strategy is to effectively manage its fleet and grow its portfolio through accretive acquisitions of aircraft. FLY Leasing is managed and serviced by BBAM L.P., an aircraft leasing company. BBAM acts as manager of FLY Leasing and servicer of the aircraft portfolio under multi-year management and servicing agreements. In addition to arranging for the leasing of the fleet, BBAM assists in the acquiring and disposing of aircraft, marketeering aircraft for lease and release, collecting rents and other payments from the lessees of aircraft, monitoring maintenance, insurance and other obligations under leases, and enforcing FLY Leasing’s rights against lessees. BBAM is an independent company. FLY Leasing Limited is headquartered in Dublin, Ireland. “
Other equities analysts have also issued reports about the stock. TheStreet upgraded shares of Fly Leasing from a sell rating to a hold rating in a report on Monday, August 22nd. Cowen and Company upped their price objective on shares of Fly Leasing from $14.00 to $16.00 and gave the stock an outperform rating in a report on Friday, July 29th. Citigroup Inc. decreased their price objective on shares of Fly Leasing from $17.00 to $15.00 and set a buy rating on the stock in a report on Friday, August 19th. Finally, Deutsche Bank AG upped their price objective on shares of Fly Leasing from $18.00 to $19.00 and gave the stock a buy rating in a report on Friday, July 29th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $15.60.
Fly Leasing (NYSE:FLY) opened at 12.18 on Tuesday. Fly Leasing has a one year low of $9.54 and a one year high of $14.03. The company has a market cap of $406.17 million, a P/E ratio of 7.91 and a beta of 1.03. The company has a 50 day moving average of $11.85 and a 200-day moving average of $11.55.
Fly Leasing (NYSE:FLY) last posted its earnings results on Thursday, July 28th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.12. The company had revenue of $76.34 million for the quarter, compared to analyst estimates of $80.88 million. Fly Leasing had a net margin of 14.69% and a return on equity of 19.23%. Fly Leasing’s revenue was down 25.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.23 EPS. On average, equities analysts expect that Fly Leasing will post $1.26 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in FLY. Telemus Capital LLC acquired a new stake in Fly Leasing during the third quarter worth about $116,000. Cubist Systematic Strategies LLC increased its stake in shares of Fly Leasing by 1.5% in the second quarter. Cubist Systematic Strategies LLC now owns 13,859 shares of the company’s stock worth $138,000 after buying an additional 201 shares in the last quarter. Westport Resources Management Inc. increased its stake in shares of Fly Leasing by 25.2% in the second quarter. Westport Resources Management Inc. now owns 15,900 shares of the company’s stock worth $158,000 after buying an additional 3,200 shares in the last quarter. Commonwealth Equity Services Inc increased its stake in shares of Fly Leasing by 0.6% in the second quarter. Commonwealth Equity Services Inc now owns 17,700 shares of the company’s stock worth $176,000 after buying an additional 113 shares in the last quarter. Finally, Nuveen Fund Advisors LLC purchased a new stake in shares of Fly Leasing during the second quarter worth approximately $220,000. Institutional investors own 52.91% of the company’s stock.
Fly Leasing Company Profile
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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