Fly Leasing Limited (NYSE:FLY) announced its quarterly earnings results on Thursday. The transportation company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02, Morningstar.com reports. Fly Leasing Limited had a negative net margin of 9.21% and a positive return on equity of 11.96%. The firm had revenue of $79.21 million during the quarter, compared to analyst estimates of $83.17 million. During the same period in the previous year, the business posted $0.45 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis.

Shares of Fly Leasing Limited (NYSE:FLY) traded down 3.81% during mid-day trading on Thursday, reaching $13.13. 282,273 shares of the company traded hands. The firm has a 50-day moving average price of $13.75 and a 200 day moving average price of $13.39. Fly Leasing Limited has a 52 week low of $11.41 and a 52 week high of $14.45. The firm’s market capitalization is $422.21 million.

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Several brokerages recently issued reports on FLY. Zacks Investment Research upgraded shares of Fly Leasing Limited from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. ValuEngine lowered shares of Fly Leasing Limited from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub upgraded shares of Fly Leasing Limited from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Finally, Royal Bank Of Canada restated a “buy” rating on shares of Fly Leasing Limited in a research report on Friday, April 21st. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Fly Leasing Limited presently has an average rating of “Buy” and a consensus target price of $17.10.

Several hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can boosted its stake in shares of Fly Leasing Limited by 42.2% in the first quarter. Bank of Montreal Can now owns 202,980 shares of the transportation company’s stock worth $2,663,000 after buying an additional 60,255 shares during the last quarter. Dalton Greiner Hartman Maher & Co. boosted its stake in shares of Fly Leasing Limited by 0.4% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 144,780 shares of the transportation company’s stock worth $1,900,000 after buying an additional 566 shares during the last quarter. Renaissance Group LLC boosted its stake in shares of Fly Leasing Limited by 3.5% in the first quarter. Renaissance Group LLC now owns 27,348 shares of the transportation company’s stock worth $359,000 after buying an additional 930 shares during the last quarter. Karp Capital Management Corp acquired a new stake in shares of Fly Leasing Limited during the first quarter worth approximately $1,628,000. Finally, Ameriprise Financial Inc. boosted its stake in shares of Fly Leasing Limited by 6.7% in the first quarter. Ameriprise Financial Inc. now owns 12,994 shares of the transportation company’s stock worth $170,000 after buying an additional 817 shares during the last quarter. Institutional investors own 51.31% of the company’s stock.

About Fly Leasing Limited

Fly Leasing Limited is engaged in purchasing commercial aircraft, which it leases under multi-year contracts to a range of airlines throughout the world. The Company primarily acquires aircraft by entering into purchase and leaseback transactions with airlines for new aircraft; purchasing portfolios, which consists of aircraft of various types and ages, and acquiring individual aircraft.

Earnings History for Fly Leasing Limited (NYSE:FLY)

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