Equities research analysts forecast that Fly Leasing Ltd (NYSE:FLY) will announce sales of $100.53 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Fly Leasing’s earnings, with the highest sales estimate coming in at $100.90 million and the lowest estimate coming in at $100.16 million. Fly Leasing posted sales of $86.22 million in the same quarter last year, which would suggest a positive year over year growth rate of 16.6%. The company is expected to announce its next earnings report on Thursday, November 8th.

On average, analysts expect that Fly Leasing will report full-year sales of $403.13 million for the current fiscal year, with estimates ranging from $399.81 million to $406.10 million. For the next year, analysts expect that the business will report sales of $453.50 million per share, with estimates ranging from $435.37 million to $475.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Fly Leasing.

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

Several analysts recently weighed in on the company. TheStreet upgraded Fly Leasing from a “d+” rating to a “c-” rating in a research note on Wednesday, September 19th. ValuEngine downgraded Fly Leasing from a “buy” rating to a “hold” rating in a research note on Monday, June 4th. Citigroup upped their price objective on Fly Leasing from $14.00 to $14.50 and gave the company a “sell” rating in a research report on Friday, August 24th. Finally, Zacks Investment Research raised Fly Leasing from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research report on Friday, August 24th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $19.10.

Shares of Fly Leasing stock traded down $0.08 during midday trading on Friday, hitting $14.25. The company had a trading volume of 241 shares, compared to its average volume of 93,300. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 4.29. The company has a market capitalization of $411.24 million, a P/E ratio of 158.44, a PEG ratio of 0.62 and a beta of 1.05. Fly Leasing has a 52-week low of $11.54 and a 52-week high of $15.32.

Hedge funds have recently added to or reduced their stakes in the stock. Dalton Greiner Hartman Maher & Co. lifted its position in Fly Leasing by 20.9% in the 1st quarter. Dalton Greiner Hartman Maher & Co. now owns 285,698 shares of the transportation company’s stock valued at $3,803,000 after acquiring an additional 49,363 shares in the last quarter. Uniplan Investment Counsel Inc. lifted its position in Fly Leasing by 1.5% in the 1st quarter. Uniplan Investment Counsel Inc. now owns 543,957 shares of the transportation company’s stock valued at $7,240,000 after acquiring an additional 7,815 shares in the last quarter. Trexquant Investment LP bought a new position in Fly Leasing in the 1st quarter valued at approximately $286,000. Wells Fargo & Company MN lifted its position in Fly Leasing by 74.6% in the 1st quarter. Wells Fargo & Company MN now owns 215,137 shares of the transportation company’s stock valued at $2,863,000 after acquiring an additional 91,953 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new position in Fly Leasing in the 2nd quarter valued at approximately $2,659,000. 49.15% of the stock is currently owned by institutional investors and hedge funds.

Fly Leasing Company Profile

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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