Aircastle (AYR) Issues Quarterly Earnings Results

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Aircastle (NYSE:AYR) issued its quarterly earnings data on Tuesday. The transportation company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.42 by $0.01, MarketWatch Earnings reports. Aircastle had a return on equity of 10.26% and a net margin of 25.70%. The company had revenue of $292.60 million for the quarter, compared to analyst estimates of $282.86 million. During the same period last year, the company earned $0.72 earnings per share. Aircastle’s quarterly revenue was up 48.8% compared to the same quarter last year.

Shares of AYR stock opened at $20.87 on Wednesday. Aircastle has a 52-week low of $15.75 and a 52-week high of $23.14. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 11.16 and a beta of 1.74.

A number of hedge funds have recently made changes to their positions in the business. IFP Advisors Inc raised its holdings in Aircastle by 96.3% in the fourth quarter. IFP Advisors Inc now owns 2,038 shares of the transportation company’s stock worth $35,000 after purchasing an additional 1,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Aircastle by 29.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,560 shares of the transportation company’s stock worth $79,000 after purchasing an additional 1,048 shares during the period. Advisor Group Inc. raised its holdings in Aircastle by 82.1% in the fourth quarter. Advisor Group Inc. now owns 7,848 shares of the transportation company’s stock worth $134,000 after purchasing an additional 3,538 shares during the period. Thrivent Financial for Lutherans acquired a new stake in Aircastle in the third quarter worth $203,000. Finally, Raymond James Trust N.A. acquired a new stake in Aircastle in the third quarter worth $206,000. 58.36% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have weighed in on AYR shares. Zacks Investment Research downgraded Aircastle from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 30th. Cowen reaffirmed an “outperform” rating and set a $25.00 price objective (down from $26.00) on shares of Aircastle in a research report on Tuesday, December 11th. Credit Suisse Group lowered their price objective on Aircastle from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, December 11th. Barclays set a $22.00 price objective on Aircastle and gave the stock a “hold” rating in a research report on Friday, December 14th. Finally, TheStreet cut Aircastle from a “b-” rating to a “c+” rating in a research report on Friday, December 28th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $23.29.

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Aircastle Company Profile

Aircastle Limited, through its subsidiaries, leases, finances, sells, and manages commercial flight equipment to airlines worldwide. The company also invests in other aviation assets. As of December 31, 2017, its aircraft portfolio comprised 236 aircraft leased to 81 lessees located in 43 countries. Aircastle Limited was founded in 2004 and is based in Stamford, Connecticut.

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Earnings History for Aircastle (NYSE:AYR)

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