Aircastle Limited (AYR) Given Hold Rating at Cowen and Company
Cowen and Company restated their hold rating on shares of Aircastle Limited (NYSE:AYR) in a research note issued to investors on Tuesday morning. Cowen and Company currently has a $26.00 price objective on the transportation company’s stock.
A number of other brokerages also recently weighed in on AYR. BidaskClub downgraded Aircastle Limited from a sell rating to a strong sell rating in a report on Monday, August 14th. Barclays PLC initiated coverage on Aircastle Limited in a report on Monday, July 10th. They issued an equal weight rating and a $24.00 target price on the stock. Zacks Investment Research downgraded Aircastle Limited from a hold rating to a sell rating in a report on Monday, August 14th. Finally, Wells Fargo & Company reiterated a market perform rating and issued a $24.00 target price (down previously from $26.00) on shares of Aircastle Limited in a report on Thursday, May 25th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $24.30.
Shares of Aircastle Limited (NYSE:AYR) opened at 21.56 on Tuesday. Aircastle Limited has a 52-week low of $18.26 and a 52-week high of $25.98. The company has a 50 day moving average of $22.32 and a 200 day moving average of $22.65. The firm has a market capitalization of $1.70 billion, a PE ratio of 13.00 and a beta of 1.83.
Aircastle Limited (NYSE:AYR) last issued its earnings results on Tuesday, August 8th. The transportation company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.58). The business had revenue of $223.53 million during the quarter, compared to analyst estimates of $206.10 million. Aircastle Limited had a net margin of 15.75% and a return on equity of 7.41%. Aircastle Limited’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 EPS. On average, analysts anticipate that Aircastle Limited will post $1.92 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were paid a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $1.04 annualized dividend and a dividend yield of 4.82%. Aircastle Limited’s payout ratio is 62.65%.
Several hedge funds and other institutional investors have recently made changes to their positions in AYR. Northern Trust Corp grew its stake in shares of Aircastle Limited by 36.0% in the 2nd quarter. Northern Trust Corp now owns 2,021,880 shares of the transportation company’s stock valued at $43,976,000 after buying an additional 535,106 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Aircastle Limited by 8.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,043,557 shares of the transportation company’s stock valued at $109,698,000 after buying an additional 413,818 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Aircastle Limited by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 5,629,041 shares of the transportation company’s stock valued at $135,829,000 after buying an additional 176,874 shares in the last quarter. Dean Capital Management bought a new stake in shares of Aircastle Limited in the 2nd quarter valued at approximately $3,578,000. Finally, James Investment Research Inc. grew its stake in shares of Aircastle Limited by 75.5% in the 2nd quarter. James Investment Research Inc. now owns 178,234 shares of the transportation company’s stock valued at $3,876,000 after buying an additional 76,666 shares in the last quarter. 62.04% of the stock is owned by institutional investors and hedge funds.
Aircastle Limited Company Profile
Aircastle Limited is a holding company. The Company, through its subsidiaries, acquires, leases and sells commercial jet aircrafts to airlines. The Company is engaged in financing and managing commercial flight equipment. The Company manages its aircrafts in the United States, Ireland and Singapore. As of December 31, 2016, the Company owned and managed on behalf of its joint ventures 206 aircrafts leased to 71 lessees located in 36 countries.
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