Equities analysts expect Fly Leasing Ltd (NYSE:FLY) to announce $1.91 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Fly Leasing’s earnings, with the lowest EPS estimate coming in at $1.85 and the highest estimate coming in at $2.01. Fly Leasing posted earnings per share of $0.75 in the same quarter last year, which would suggest a positive year over year growth rate of 154.7%. The business is scheduled to announce its next earnings results on Thursday, November 14th.

On average, analysts expect that Fly Leasing will report full-year earnings of $5.78 per share for the current financial year, with EPS estimates ranging from $5.75 to $5.80. For the next year, analysts anticipate that the company will report earnings of $3.63 per share, with EPS estimates ranging from $3.30 to $4.00. Zacks’ EPS calculations are a mean average based on a survey of research analysts that that provide coverage for Fly Leasing.

Fly Leasing (NYSE:FLY) last issued its quarterly earnings results on Thursday, August 22nd. The transportation company reported $1.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.47. Fly Leasing had a return on equity of 22.62% and a net margin of 29.64%. The business had revenue of $147.00 million during the quarter, compared to analyst estimates of $140.40 million. During the same quarter in the prior year, the business posted $0.90 EPS. Fly Leasing’s revenue for the quarter was up 43.1% compared to the same quarter last year.

A number of brokerages have issued reports on FLY. Zacks Investment Research upgraded Fly Leasing from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research note on Thursday, August 29th. ValuEngine upgraded Fly Leasing from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. Finally, Compass Point set a $23.00 price target on Fly Leasing and gave the stock a “buy” rating in a research note on Friday, August 23rd.

Hedge funds have recently modified their holdings of the business. Aperio Group LLC increased its stake in Fly Leasing by 24.0% in the 2nd quarter. Aperio Group LLC now owns 75,343 shares of the transportation company’s stock worth $1,312,000 after buying an additional 14,588 shares in the last quarter. Acadian Asset Management LLC increased its stake in Fly Leasing by 65.1% in the 2nd quarter. Acadian Asset Management LLC now owns 469,605 shares of the transportation company’s stock worth $8,175,000 after buying an additional 185,181 shares in the last quarter. Donald Smith & CO. Inc. boosted its holdings in shares of Fly Leasing by 0.6% during the 1st quarter. Donald Smith & CO. Inc. now owns 2,687,801 shares of the transportation company’s stock valued at $37,199,000 after purchasing an additional 17,229 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Fly Leasing by 74.4% during the 2nd quarter. Wells Fargo & Company MN now owns 254,750 shares of the transportation company’s stock valued at $4,435,000 after purchasing an additional 108,664 shares during the last quarter. Finally, Monarch Partners Asset Management LLC boosted its holdings in shares of Fly Leasing by 95.4% during the 1st quarter. Monarch Partners Asset Management LLC now owns 166,985 shares of the transportation company’s stock valued at $2,311,000 after purchasing an additional 81,545 shares during the last quarter. Institutional investors and hedge funds own 43.55% of the company’s stock.

FLY stock traded down $0.35 during trading on Monday, reaching $20.80. The company’s stock had a trading volume of 150,221 shares, compared to its average volume of 372,788. Fly Leasing has a 1 year low of $10.42 and a 1 year high of $22.11. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 3.56. The company has a market capitalization of $646.25 million, a P/E ratio of 6.80 and a beta of 0.87. The company’s fifty day moving average is $19.23 and its 200-day moving average is $16.43.

About Fly Leasing

Fly Leasing Limited, through its subsidiaries, purchases and leases commercial aircraft under multi-year contracts to various airlines worldwide. As of December 31, 2018, it had a portfolio of 101 aircraft, including 90 narrow-body passenger aircraft and 11 wide-body passenger aircraft, as well as 7 engines.

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