Zacks Investment Research downgraded shares of AerCap (NYSE:AER) from a hold rating to a strong sell rating in a research note issued to investors on Tuesday.
According to Zacks, “AERCAP HOLDINGS is an integrated global aviation company with a leading market position in aircraft and engine leasing, trading and parts sales.They also provides aircraft management services and performs aircraft and engine maintenance, repair and overhaul services and aircraft disassemblies through its certified repair stations. “
Several other analysts have also weighed in on AER. Cowen reissued a buy rating and issued a $55.00 target price on shares of AerCap in a report on Thursday, October 12th. UBS Group upped their target price on AerCap from $44.00 to $54.00 and gave the company a neutral rating in a report on Thursday, November 9th. Royal Bank of Canada lowered their target price on AerCap from $77.00 to $74.00 and set an outperform rating on the stock in a report on Tuesday, November 14th. Citigroup began coverage on AerCap in a report on Friday, December 8th. They issued a neutral rating and a $57.00 target price on the stock. Finally, Wells Fargo & Co set a $62.00 price objective on AerCap and gave the company a buy rating in a research note on Friday, December 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. AerCap presently has an average rating of Buy and a consensus price target of $57.30.
AerCap (NYSE:AER) last posted its earnings results on Thursday, November 2nd. The financial services provider reported $1.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.15. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.23 billion. AerCap had a return on equity of 13.84% and a net margin of 22.84%. AerCap’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.22 earnings per share. equities research analysts forecast that AerCap will post 6.14 EPS for the current fiscal year.
AerCap announced that its board has approved a share repurchase plan on Thursday, November 2nd that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
Several institutional investors and hedge funds have recently bought and sold shares of AER. Prudential Financial Inc. boosted its stake in shares of AerCap by 20.4% during the second quarter. Prudential Financial Inc. now owns 20,067 shares of the financial services provider’s stock valued at $932,000 after acquiring an additional 3,406 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of AerCap by 46.7% during the second quarter. Principal Financial Group Inc. now owns 22,895 shares of the financial services provider’s stock valued at $1,063,000 after acquiring an additional 7,289 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of AerCap by 70.5% during the second quarter. JPMorgan Chase & Co. now owns 555,990 shares of the financial services provider’s stock valued at $25,815,000 after acquiring an additional 229,823 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its position in AerCap by 12.3% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 919,601 shares of the financial services provider’s stock worth $42,697,000 after buying an additional 100,497 shares during the period. Finally, Commonwealth Bank of Australia lifted its position in AerCap by 10.7% during the second quarter. Commonwealth Bank of Australia now owns 29,000 shares of the financial services provider’s stock worth $1,346,000 after buying an additional 2,800 shares during the period. 85.72% of the stock is currently owned by institutional investors and hedge funds.
AerCap Company Profile
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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