AeroCentury Corp. (NYSEMKT:ACY) Releases Quarterly Earnings Results, Hits Expectations
AeroCentury Corp. (NYSEMKT:ACY) posted its quarterly earnings results on Thursday. The financial services provider reported $0.25 EPS for the quarter, meeting the consensus estimate of $0.25, MarketWatch Earnings reports. AeroCentury Corp. had a net margin of 8.39% and a return on equity of 6.19%. The business had revenue of $7.11 million during the quarter, compared to analyst estimates of $7.84 million.
AeroCentury Corp. (NYSEMKT ACY) traded down 3.97% during midday trading on Friday, hitting $11.50. 4,559 shares of the stock traded hands. The firm has a market cap of $16.28 million, a P/E ratio of 12.67 and a beta of 0.15. AeroCentury Corp. has a 12-month low of $8.50 and a 12-month high of $16.10. The company’s 50-day moving average is $12.70 and its 200 day moving average is $10.90.
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ACY has been the subject of several recent research reports. Zacks Investment Research upgraded shares of AeroCentury Corp. from a “sell” rating to a “hold” rating and set a $12.00 price target for the company in a report on Thursday, May 18th. TheStreet lowered shares of AeroCentury Corp. from a “c” rating to a “d” rating in a report on Wednesday, May 17th. Finally, ValuEngine lowered shares of AeroCentury Corp. from a “buy” rating to a “hold” rating in a report on Friday, June 2nd.
AeroCentury Corp. Company Profile
AeroCentury Corp. acquires used regional aircraft and aircraft engines for lease to regional carriers all over the world. The Company’s segment is leasing of regional aircraft to foreign and domestic regional airlines. The business of the Company is managed by JetFleet Management Corp. (JMC), an integrated aircraft management, marketing and financing business.
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