AerCap (AER) Downgraded by Zacks Investment Research to “Sell”
Zacks Investment Research lowered shares of AerCap (NYSE:AER) from a hold rating to a sell rating in a research report sent to investors on Monday morning.
According to Zacks, “AERCAP HOLDINGS is an integrated global aviation company with a leading market position in aircraft and engine leasing, trading and parts sales.They also provides aircraft management services and performs aircraft and engine maintenance, repair and overhaul services and aircraft disassemblies through its certified repair stations. “
A number of other brokerages have also weighed in on AER. Cowen reaffirmed a buy rating and set a $55.00 target price on shares of AerCap in a research note on Thursday, October 12th. UBS Group lifted their price target on shares of AerCap from $44.00 to $54.00 and gave the company a neutral rating in a research report on Thursday, November 9th. Citigroup initiated coverage on shares of AerCap in a research report on Friday, December 8th. They set a neutral rating and a $57.00 price target for the company. Royal Bank of Canada lowered their price target on shares of AerCap from $77.00 to $74.00 and set an outperform rating for the company in a research report on Tuesday, November 14th. Finally, Wells Fargo & Co set a $62.00 price target on shares of AerCap and gave the company a buy rating in a research report on Friday, December 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. AerCap has an average rating of Buy and an average price target of $57.30.
AerCap (NYSE:AER) last announced its earnings results on Thursday, November 2nd. The financial services provider reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.15. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.23 billion. AerCap had a net margin of 22.84% and a return on equity of 13.84%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.22 EPS. sell-side analysts forecast that AerCap will post 6.17 earnings per share for the current fiscal year.
AerCap declared that its Board of Directors has initiated a share repurchase plan on Thursday, November 2nd that allows the company to buyback $200.00 million in shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cambiar Investors LLC lifted its position in AerCap by 0.8% during the 4th quarter. Cambiar Investors LLC now owns 6,613,719 shares of the financial services provider’s stock valued at $347,948,000 after acquiring an additional 54,888 shares during the period. Neuberger Berman Group LLC lifted its position in AerCap by 7.5% during the 3rd quarter. Neuberger Berman Group LLC now owns 3,320,387 shares of the financial services provider’s stock valued at $169,705,000 after acquiring an additional 230,716 shares during the period. Wedge Capital Management L L P NC raised its holdings in AerCap by 9.8% in the fourth quarter. Wedge Capital Management L L P NC now owns 2,237,852 shares of the financial services provider’s stock worth $117,733,000 after buying an additional 199,480 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in AerCap by 1.9% in the third quarter. Allianz Asset Management GmbH now owns 1,232,543 shares of the financial services provider’s stock worth $62,995,000 after buying an additional 22,693 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd raised its holdings in AerCap by 0.3% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,200,000 shares of the financial services provider’s stock worth $61,332,000 after buying an additional 3,600 shares during the last quarter. 85.43% of the stock is owned by institutional investors.
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AerCap Company Profile
AerCap Holdings N.V. is an independent aircraft leasing company. The Company focuses on acquiring in-demand aircraft, funding them, hedging interest rate risk and using its platform to deploy these assets. It operates its business on a global basis, leasing aircraft to customers in various geographical regions.
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