Fly Leasing Ltd (FLY) Receives Average Recommendation of “Buy” from Analysts
Shares of Fly Leasing Ltd (NYSE:FLY) have been given an average recommendation of “Buy” by the eight brokerages that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $16.17.
FLY has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Fly Leasing from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. ValuEngine cut shares of Fly Leasing from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub raised shares of Fly Leasing from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Finally, Cowen and Company reissued a “buy” rating and issued a $16.00 target price on shares of Fly Leasing in a research report on Tuesday.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp raised its stake in Fly Leasing by 1.2% during the second quarter. State Street Corp now owns 35,405 shares of the transportation company’s stock worth $476,000 after acquiring an additional 425 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Fly Leasing by 630.0% during the second quarter. Goldman Sachs Group Inc. now owns 194,005 shares of the transportation company’s stock worth $2,609,000 after acquiring an additional 167,430 shares in the last quarter. Citadel Advisors LLC raised its stake in Fly Leasing by 191.1% during the second quarter. Citadel Advisors LLC now owns 29,401 shares of the transportation company’s stock worth $395,000 after acquiring an additional 19,301 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in Fly Leasing by 8.2% during the second quarter. Parametric Portfolio Associates LLC now owns 18,818 shares of the transportation company’s stock worth $253,000 after acquiring an additional 1,424 shares in the last quarter. Finally, Uniplan Investment Counsel Inc. raised its stake in Fly Leasing by 27.7% during the second quarter. Uniplan Investment Counsel Inc. now owns 512,759 shares of the transportation company’s stock worth $6,896,000 after acquiring an additional 111,372 shares in the last quarter. 46.90% of the stock is owned by hedge funds and other institutional investors.
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Fly Leasing (NYSE:FLY) traded down 0.49% during trading on Friday, hitting $14.28. 103,676 shares of the stock were exchanged. The firm has a 50-day moving average of $13.64 and a 200-day moving average of $13.32. Fly Leasing has a 52 week low of $11.41 and a 52 week high of $14.45. The stock’s market capitalization is $430.88 million.
Fly Leasing (NYSE:FLY) last announced its earnings results on Thursday, August 10th. The transportation company reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.02. The company had revenue of $79.21 million during the quarter, compared to analysts’ expectations of $83.17 million. Fly Leasing had a net margin of 3.61% and a return on equity of 1.97%. Fly Leasing’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.45 earnings per share. Equities research analysts anticipate that Fly Leasing will post $1.12 earnings per share for the current fiscal year.
Fly Leasing Company Profile
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.
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