Fly Leasing Ltd. (FLY) Trading Up 1.4%
Fly Leasing Ltd. (NYSE:FLY)’s share price was up 1.4% on Wednesday . The company traded as high as $11.96 and last traded at $11.93, with a volume of 67,471 shares changing hands. The stock had previously closed at $11.76.
A number of equities analysts have weighed in on FLY shares. Zacks Investment Research cut shares of Fly Leasing from a “hold” rating to a “sell” rating in a research report on Monday, June 20th. Deutsche Bank AG upped their price objective on shares of Fly Leasing from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Cowen and Company upped their price objective on shares of Fly Leasing from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Friday, July 29th. Finally, Wells Fargo & Co. reissued a “buy” rating on shares of Fly Leasing in a research report on Thursday, May 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $16.58.
The stock has a 50-day moving average price of $11.18 and a 200 day moving average price of $11.71. The firm has a market cap of $401.16 million and a PE ratio of 7.82.
Fly Leasing (NYSE:FLY) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.12. The business had revenue of $76.34 million for the quarter, compared to the consensus estimate of $80.88 million. The firm’s revenue for the quarter was down 25.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.23 EPS. Equities analysts expect that Fly Leasing Ltd. will post $1.26 EPS for the current fiscal year.
A hedge fund recently raised its stake in Fly Leasing stock. Bank of Montreal Can raised its position in shares of Fly Leasing Ltd. (NYSE:FLY) by 74.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 129,005 shares of the company’s stock after buying an additional 55,194 shares during the period. Bank of Montreal Can owned 0.31% of Fly Leasing worth $1,761,000 at the end of the most recent quarter.
Fly Leasing Limited (Fly) is engaged in purchasing commercial aircraft which it leases under multi-year contracts to a range of airlines throughout the world. As of December 31, 2014, the Company’s aircraft portfolio consisted of 127 commercial jet aircraft, consisting of 116 narrow-body passenger aircraft, including two freighters, and 11 wide-body passenger aircraft.
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