$100.53 Million in Sales Expected for Fly Leasing Ltd (FLY) This Quarter

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Analysts expect Fly Leasing Ltd (NYSE:FLY) to post sales of $100.53 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Fly Leasing’s earnings, with estimates ranging from $100.16 million to $100.90 million. Fly Leasing reported sales of $86.22 million in the same quarter last year, which indicates a positive year-over-year growth rate of 16.6%. The company is scheduled to report its next quarterly earnings report before the market opens on Thursday, November 8th.

According to Zacks, analysts expect that Fly Leasing will report full-year sales of $403.13 million for the current year, with estimates ranging from $399.81 million to $406.10 million. For the next year, analysts expect that the business will post sales of $453.50 million, with estimates ranging from $435.37 million to $475.60 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Fly Leasing.

Fly Leasing (NYSE:FLY) last released its quarterly earnings data on Thursday, August 23rd. The transportation company reported $0.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.18. Fly Leasing had a return on equity of 5.79% and a net margin of 7.43%. The company had revenue of $99.30 million during the quarter, compared to the consensus estimate of $98.62 million. During the same quarter in the prior year, the firm posted $0.31 earnings per share. The firm’s revenue was up 25.4% compared to the same quarter last year.

Several research firms have recently issued reports on FLY. TheStreet raised Fly Leasing from a “d+” rating to a “c-” rating in a research note on Wednesday, September 19th. Zacks Investment Research cut Fly Leasing from a “buy” rating to a “hold” rating in a report on Monday, August 27th. Finally, Citigroup upped their target price on Fly Leasing from $14.00 to $14.50 and gave the company a “sell” rating in a report on Friday, August 24th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $19.13.

Shares of Fly Leasing stock traded up $0.27 on Monday, hitting $13.60. The stock had a trading volume of 70,049 shares, compared to its average volume of 111,217. Fly Leasing has a twelve month low of $11.54 and a twelve month high of $15.32. The company has a debt-to-equity ratio of 4.29, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market capitalization of $404.64 million, a P/E ratio of 151.11, a P/E/G ratio of 0.61 and a beta of 1.03.

A number of hedge funds have recently made changes to their positions in FLY. Point72 Asset Management L.P. boosted its holdings in shares of Fly Leasing by 110.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 287,453 shares of the transportation company’s stock worth $4,050,000 after buying an additional 150,603 shares in the last quarter. Dalton Greiner Hartman Maher & Co. boosted its holdings in shares of Fly Leasing by 20.9% during the 1st quarter. Dalton Greiner Hartman Maher & Co. now owns 285,698 shares of the transportation company’s stock worth $3,803,000 after buying an additional 49,363 shares in the last quarter. Cozad Asset Management Inc. bought a new position in shares of Fly Leasing during the 2nd quarter worth approximately $316,000. Wells Fargo & Company MN boosted its holdings in shares of Fly Leasing by 74.6% during the 1st quarter. Wells Fargo & Company MN now owns 215,137 shares of the transportation company’s stock worth $2,863,000 after buying an additional 91,953 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new position in shares of Fly Leasing during the 2nd quarter worth approximately $2,659,000. Institutional investors and hedge funds own 49.15% of the company’s stock.

About Fly Leasing

Fly Leasing Limited, through its subsidiaries, purchases and leases commercial aircrafts under multi-year contracts to various airlines worldwide. As of December 31, 2017, the company had a portfolio of 85 aircrafts, including 73 narrow-body passenger aircrafts and 12 wide-body passenger aircrafts. Fly Leasing Limited was founded in 2007 and is headquartered in DĂșn Laoghaire, Ireland.

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