Aircastle Limited (NYSE:AYR) has been assigned a consensus recommendation of “Hold” from the twelve research firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $25.00.
A number of research analysts recently weighed in on the company. Royal Bank of Canada reiterated a “hold” rating on shares of Aircastle in a report on Wednesday, February 14th. Stephens upgraded Aircastle from an “underweight” rating to an “equal” rating and set a $24.00 target price on the stock in a report on Wednesday, February 14th. They noted that the move was a valuation call. Cowen reiterated a “market perform” rating and issued a $24.00 target price (down previously from $26.00) on shares of Aircastle in a report on Tuesday, February 13th. Zacks Investment Research cut Aircastle from a “hold” rating to a “strong sell” rating in a report on Friday, February 16th. Finally, Citigroup assumed coverage on Aircastle in a report on Friday, December 8th. They issued a “neutral” rating and a $25.00 target price on the stock.
Several institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its stake in shares of Aircastle by 3.6% during the third quarter. Dimensional Fund Advisors LP now owns 5,224,849 shares of the transportation company’s stock worth $116,461,000 after purchasing an additional 181,292 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Aircastle by 1.4% in the fourth quarter. BlackRock Inc. now owns 3,242,963 shares of the transportation company’s stock worth $75,854,000 after acquiring an additional 44,394 shares in the last quarter. State Street Corp lifted its stake in shares of Aircastle by 6.7% in the second quarter. State Street Corp now owns 1,152,919 shares of the transportation company’s stock worth $25,075,000 after acquiring an additional 72,112 shares in the last quarter. Foundry Partners LLC lifted its stake in shares of Aircastle by 3.3% in the fourth quarter. Foundry Partners LLC now owns 744,790 shares of the transportation company’s stock worth $17,421,000 after acquiring an additional 23,743 shares in the last quarter. Finally, Goodnow Investment Group LLC lifted its stake in shares of Aircastle by 2.1% in the third quarter. Goodnow Investment Group LLC now owns 723,218 shares of the transportation company’s stock worth $16,121,000 after acquiring an additional 14,653 shares in the last quarter. Institutional investors own 61.55% of the company’s stock.
Aircastle (NYSE:AYR) last issued its earnings results on Tuesday, February 13th. The transportation company reported $0.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.14. Aircastle had a return on equity of 8.41% and a net margin of 18.56%. The firm had revenue of $177.40 million for the quarter, compared to analysts’ expectations of $184.09 million. During the same quarter last year, the firm earned $0.90 earnings per share. The firm’s revenue for the quarter was down 13.3% compared to the same quarter last year. equities research analysts anticipate that Aircastle will post 2.05 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.49%. The ex-dividend date of this dividend is Tuesday, February 27th. Aircastle’s dividend payout ratio is presently 59.57%.
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Aircastle Limited is a holding company. The Company, through its subsidiaries, acquires, leases and sells commercial jet aircrafts to airlines. The Company is engaged in financing and managing commercial flight equipment. The Company manages its aircrafts in the United States, Ireland and Singapore. As of December 31, 2016, the Company owned and managed on behalf of its joint ventures 206 aircrafts leased to 71 lessees located in 36 countries.
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