Wall Street brokerages expect that Fly Leasing Ltd (NYSE:FLY) will report earnings of $0.58 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Fly Leasing’s earnings. The highest EPS estimate is $0.60 and the lowest is $0.56. Fly Leasing posted earnings per share of $0.25 during the same quarter last year, which would suggest a positive year over year growth rate of 132%. The company is expected to issue its next quarterly earnings report on Thursday, March 14th.

According to Zacks, analysts expect that Fly Leasing will report full-year earnings of $2.50 per share for the current fiscal year, with EPS estimates ranging from $2.45 to $2.55. For the next year, analysts expect that the firm will post earnings of $2.75 per share, with EPS estimates ranging from $2.55 to $3.00. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Fly Leasing.

Fly Leasing (NYSE:FLY) last issued its quarterly earnings results on Thursday, November 8th. The transportation company reported $0.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.28. Fly Leasing had a return on equity of 11.41% and a net margin of 15.32%. The business had revenue of $104.60 million during the quarter, compared to the consensus estimate of $100.68 million. During the same period in the previous year, the business earned ($0.34) EPS. The business’s quarterly revenue was up 21.3% on a year-over-year basis.

FLY has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Fly Leasing from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Wednesday, October 24th. ValuEngine downgraded Fly Leasing from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. Finally, TheStreet upgraded Fly Leasing from a “d+” rating to a “c-” rating in a report on Wednesday, September 19th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. Fly Leasing currently has a consensus rating of “Hold” and a consensus price target of $18.63.

Shares of NYSE FLY traded up $0.26 during trading on Monday, reaching $11.61. The stock had a trading volume of 92,067 shares, compared to its average volume of 154,738. Fly Leasing has a one year low of $10.42 and a one year high of $15.32. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 4.44. The company has a market capitalization of $316.54 million, a price-to-earnings ratio of 129.00, a price-to-earnings-growth ratio of 0.40 and a beta of 1.02.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Morgan Stanley grew its stake in Fly Leasing by 9.2% during the 3rd quarter. Morgan Stanley now owns 1,727,389 shares of the transportation company’s stock worth $24,357,000 after buying an additional 145,342 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Fly Leasing during the 3rd quarter worth $218,000. Panagora Asset Management Inc. bought a new position in Fly Leasing during the 3rd quarter worth $114,000. ClariVest Asset Management LLC bought a new position in Fly Leasing during the 3rd quarter worth $251,000. Finally, JPMorgan Chase & Co. grew its stake in Fly Leasing by 109.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 64,187 shares of the transportation company’s stock worth $905,000 after buying an additional 33,536 shares during the last quarter. Hedge funds and other institutional investors own 50.26% of the company’s stock.

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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