Fly Leasing (FLY) Releases Quarterly Earnings Results, Beats Expectations By $1.30 EPS
Fly Leasing (NYSE: FLY) released its earnings data on Thursday. The company reported $2.04 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.74 by $1.30. The company had revenue of $130.87 million for the quarter, compared to the consensus estimate of $105.36 million. During the same quarter in the prior year, the company posted $0.80 earnings per share. The company’s quarterly revenue was up 38.5% on a year-over-year basis.
A number of analysts have recently weighed in on FLY shares. Analysts at Zacks downgraded shares of Fly Leasing from a “neutral” rating to an “underperform” rating in a research note to investors on Friday, March 1st. They now have a $13.00 price target on the stock. On a related note, analysts at Deutsche Bank initiated coverage on shares of Fly Leasing in a research note to investors on Thursday, February 7th. They set a “buy” rating and a $17.00 price target on the stock.
Four analysts have rated the stock with a buy rating, and one has issued a hold rating to the company’s stock. The stock currently has an average rating of “buy” and a consensus price target of $15.57.
Shares of Fly Leasing (FLY) opened at 14.53 on Thursday. Fly Leasing (FLY) has a 52 week low of $11.06 and a 52 week high of $14.69. The stock’s 50-day moving average is currently $13.32. The company has a market cap of $374.4 million and a P/E ratio of 54.62.
Fly Leasing Limited, formerly Babcock & Brown Air Limited (B&B Air), is a global lessor of modern, fuel-efficient commercial jet aircraft.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.