Analysts forecast that Fly Leasing Ltd (NYSE:FLY) will announce $100.53 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Fly Leasing’s earnings, with estimates ranging from $100.16 million to $100.90 million. Fly Leasing posted sales of $86.22 million in the same quarter last year, which suggests a positive year over year growth rate of 16.6%. The business is expected to announce its next earnings report before the market opens on Thursday, November 8th.

On average, analysts expect that Fly Leasing will report full year sales of $403.13 million for the current financial year, with estimates ranging from $399.81 million to $406.10 million. For the next year, analysts forecast that the firm will report sales of $453.50 million, with estimates ranging from $435.37 million to $475.60 million. Zacks’ sales averages are a mean average based on a survey of research firms that cover Fly Leasing.

Fly Leasing (NYSE:FLY) last announced its quarterly earnings data on Thursday, August 23rd. The transportation company reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.18. The firm had revenue of $99.30 million during the quarter, compared to the consensus estimate of $98.62 million. Fly Leasing had a net margin of 7.43% and a return on equity of 5.79%. The firm’s revenue was up 25.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.31 earnings per share.

A number of brokerages recently commented on FLY. TheStreet upgraded shares of Fly Leasing from a “d+” rating to a “c-” rating in a research report on Wednesday, September 19th. Zacks Investment Research downgraded shares of Fly Leasing from a “buy” rating to a “hold” rating in a research report on Monday, August 27th. Finally, Citigroup raised their price objective on shares of Fly Leasing from $14.00 to $14.50 and gave the company a “sell” rating in a research report on Friday, August 24th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $19.13.

A number of large investors have recently made changes to their positions in FLY. Acadian Asset Management LLC acquired a new stake in Fly Leasing in the second quarter valued at about $2,749,000. Cambridge Investment Research Advisors Inc. purchased a new position in Fly Leasing in the second quarter valued at about $2,659,000. Point72 Asset Management L.P. increased its holdings in Fly Leasing by 110.0% in the second quarter. Point72 Asset Management L.P. now owns 287,453 shares of the transportation company’s stock valued at $4,050,000 after buying an additional 150,603 shares in the last quarter. Dalton Greiner Hartman Maher & Co. increased its holdings in Fly Leasing by 42.9% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 408,329 shares of the transportation company’s stock valued at $5,753,000 after buying an additional 122,631 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Fly Leasing by 35.5% in the first quarter. Russell Investments Group Ltd. now owns 375,692 shares of the transportation company’s stock valued at $5,001,000 after buying an additional 98,431 shares in the last quarter. Hedge funds and other institutional investors own 49.15% of the company’s stock.

NYSE:FLY traded up $0.27 during mid-day trading on Monday, reaching $13.60. The stock had a trading volume of 70,049 shares, compared to its average volume of 111,217. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 4.29. The company has a market cap of $404.64 million, a P/E ratio of 151.11, a PEG ratio of 0.61 and a beta of 1.03. Fly Leasing has a twelve month low of $11.54 and a twelve month high of $15.32.

About Fly Leasing

Fly Leasing Limited, through its subsidiaries, purchases and leases commercial aircrafts under multi-year contracts to various airlines worldwide. As of December 31, 2017, the company had a portfolio of 85 aircrafts, including 73 narrow-body passenger aircrafts and 12 wide-body passenger aircrafts. Fly Leasing Limited was founded in 2007 and is headquartered in DĂșn Laoghaire, Ireland.

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